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To conclude, The effect of War have been impacted negatively on the Economy, because wars are many times over the roof expensive in money and other resources, they can be destructive of capital and human capital, and troublesome of trade, resource availability, and labor management.
Food rationing occurred in an attempt to regulate supply and demand. Because of the war, there was a high demand for goods such as food but there were no available resources.
Can cause inflation which causes the rise in prices and makes it harder for the business to obtain its resources.
Referring to the production possibilities curve, hypothetical speaking, if the government wanted to spend ten million dollars on the military, they would have to give up on the fifteen million dollars that could of spent for the economy.
The zones of "intense destruction" (Goldstein) that are most affected during war are farms and factories. The constant violence also harms the natural resources of a specific area.
The broken window fallacy is similar to war spending. The effect of the country being involved in a war diverts alot of the country's money to military spending. Although some people can argue that military spending is beneficial to the economy, the truth is that they are usually short-term and usually lead to long-term economic problems.
Treaty of Versailles
Europe's economy destroyed because of the great damage cause by WWI. While Germany owed a greater significant amount of debts from starting WWI of $33 billion. In order for Britain and France to rebuild their cities from war damages, the U.S. Offered loans, but when the U.S. bank began to fail, the U.S. demand their money back which create pressure for Britain and France leading to the start of the Great Depression. Mean while, Germany printed paper money which ultimately led to a severe inflation.
World Economy Turn Down
Stock Market Crashed