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Date Posted: 10:15:59 04/14/03 Mon
Author: John D Clare
Subject: Economic effects of WWII - suggestions
In reply to: 's message, "Economic Effects of WWII" on 09:52:53 04/14/03 Mon

The economic effects of the war were:
1. men go to fight – women do their work
2. huge growth in munitions/ aircraft industries – other industries (eg house building) put on hold
3. huge emphasis on food production – Dig for Victory
4. rationing – notably of petrol
5. Shortages of workers – schedule of Protected Occupations prevents the call-up of key workers to the services, and the Essential Works Order (1941) allowed the government to conscript people to certain work. Of course, after the war, all the men came home and this created further employment disruption.
6. Government has to take control of the economy – who works where, trade, railways, shipping, banking etc.
7. MASSIVE government debts, particularly to America (remember Lend-lease)
8. Many men (including Cos) sent to work in the mines
9. Huge losses of merchant shipping to submarines
10. Destruction of factories/machines – in 1945 Britain LOST 12% of her productive capacity
11. destruction by bombing creates need for massive house building after the war.
12. Recruitment and training of workers disrupted.
13. Many scientific advances, which would have a GREAT effect in the years to come (eg the computer, mass-produced antibiotics, DDT, jet engines)
14. Growth in Trade Unions and strikes
15. Setting up of the Beveridge Committee which brought in the Welfare State after the war. The government also adopted a new way of running the economy (called Keynesian economics) which promised full employment (compare life during the Depression before the war).
16. The Bretton Woods Conference (1944) set up the International Monetary Fund to try to prevent another world economic depression.

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