17.3.2

Economic Effects of WW1

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Economic Effects of the First World War

Russia was not the only country that struggled with the effects of 'total war' on its economy and society.

Illustrative background for Economic effectsIllustrative background for Economic effects ?? "content

Economic effects

  • The government printed too much money, which caused the Russian currency (ruble) to fall in value.
    • This worsened the cost-of-living crisis.
  • Taxes were increased on the poor to fund government spending on the war.
  • Government spending increased by a multiple of eight between 1913 and 1916.
Illustrative background for InflationIllustrative background for Inflation ?? "content

Inflation

  • Inflation (rising prices and fall in value of currency) meant that workers’ wages could no longer afford everyday items.
  • During the war years, wages increased by 200%, but food and fuel increased 400% in price.
    • This cut living standards by 50%.

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1Empires East & West: 1000 AD

1.1The Rise & Fall of Ancient China’s Empire

1.2The Medieval Greatness of the Byzantine Empire

1.3The Golden Age of the Islamic Empire

1.4The Politics & Power of the Holy Roman Empire

1.5Medieval Religion

1.6The Influence of the Church in Medieval Times

1.7How Religion Tested the Power of Kings

1.8Dynastic Challenges to Medieval Monarchs

1.9Challenges to Medieval Monarchs

1.10Revolts, Rebellions & Rights

1.11Medieval England & Her Neighbours

1.12European Renaissance

1.13Norman Conquest & Control

1.14Historical Skills

2The Medieval World: 450-1450 AD

2.1Anglo-Saxon England

2.2The Contest for the English Throne

2.3Conquering the Holy Land, 10-96-1396 AD

2.4King John

2.5The Magna Carta & Parliament

2.6The Black Death

3Worldviews

4The Empire of Mali: 1076-1670 AD

5The Renaissance & Reformations: 1500-1598 AD

6The British Empire: 1583-1960 AD

7The Peasants' Revolt: 1381 AD

8Religion in the Middle Ages

9Slavery: 1619-1833 AD

10The English Civil War: 1642-1660 AD

11The Industrial Revolution: 1750-1840 AD

12US Independence: 1775-1783 AD

13The French Revolution: 1789-1815 AD

14The British Empire: 1857–1930 AD

15Suffrage: 1840-1928 AD

16World War 1: 1914-1918 AD

17The Russian Revolution: 1917 AD

18The Inter-War Years: 1919-1939 AD

19World War 2: 1939-1945 AD

20The Cold War: 1947-1962 AD

21Civil Rights in the USA: 1954-1975 AD

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