economics (WW1)

• How did Britain finance it?

  • Saved from bankruptcy by USA lent £1000 million
  • central hub for international banking
  • loans to allies
  • income tax
  • empire
  • DORA- controlled all aspects of economy including rationing, food prices to goods produced and sold by various industries
• How important were economic factors in determining the outcome of WW1?

  Britain's blockade of German ports by 1916 they'd extended their contraband products to food, oil and other basic supplies- 750,000 dead. German navy's attempt to block Britain's economy had undesirable effect of causing USA to join- decisive. Allies were produced 65% of goods compared to 19% for Germany. These economic factors made the war protracted and more total- economic factors became very important
• What did Britains naval expenditure raise from?

  £10.8 million in 1884 to £48.8 million by 1914