Economic changes before the 1920's

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  • Created by: lyd_kate
  • Created on: 12-02-18 14:31
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  • Economic changes before the 1920's
    • WW1
    • Post War Boom
      • Ex-servicemen put a lot of money into economy
      • Restricted British goods demanded briefly
      • Soldiers back in economy, at expense of women
      • Exports at £1585m 1920, only £637m 1913
      • Benefited  Germany = hyper-inflation
      • Inflation, domestic d high. Easy credit gains. Also housing reforms
    • Long term impact of war
      • By 1921, demand fell
      • Primary good prices fell output had risen 30%,
        • World production too high to be profitable, less money for ROW to buy
          • Less demand for ship building, little concern for productivity.   Mines not cost effective
            • Only 3% of exports protected by Safeguarding of Industries Act
        • Loss of world trade meant no financial sector boom
          • Centre now USA
    • World trade decline = time lag.
      • Over production

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