Economic Governance During the Inter-War Era
Economic Governance During the Inter-War Era
First World war was an eye-opener to the world about the destruction of life and property. It swiped millions of people, left more wounded. Most of these people were middle-aged who were needed for the growth of the country. Infant mortality increased and living conditions deteriorated across Europe. Although allies won the war, the debt was enormous. The need for restructuring post-war Europe needed economic governance more than ever.
Conditions were different on two sides of the Atlantic. While Europe was struggling to pay war debts, America was in a state of an economic boost. Britain borrowed a huge sum of loans from the U.S which was expected to be paid in gold and dollar. Conditions were stabilized during 1925 because of the population growth and increased global trade. The position of the U.S became more strong as this new prosperity was driven by the U.S creditors which were getting the wealth from Europe.
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