The war had farreaching economic consequences from "summary" of The Pity Of War by Niall Ferguson
The First World War, with its unprecedented scale and intensity, had profound economic implications that extended far beyond the battlefields. The massive mobilization of resources and manpower required to sustain the war effort led to significant disruptions in the global economy. Industries were repurposed for war production, diverting resources away from civilian markets and creating shortages of essential goods. This shift in production also led to inflation as demand outstripped supply, causing prices to soar and eroding the purchasing power of ordinary citizens. The cost of the war was staggering, with governments accumulating massive debts to finance their military operations. As the conflict dragged on, these mounting debts put a strain on national economies and led to increased taxation and borrowing. The burden of war reparations imposed on defeated nations further exacerbated economic instability, fueling resentmen...
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