Economic Systems


WWI Soldiers  

WWI U.S. Soldiers

[audio] Economic competition

  • Asia, Africa, and the Middle East had natural resources, and could serve as markets for European nation's manufactured goods.

A total war effort
  • Total war effort: Government organized all people in the country to help fight the war.
  • Rationing means putting a limit on resources or food that people can obtain.


American trade favors the Allies

  • U.S. actions favored the Allies because U.S. sold them weapons, ammunition, food, supplies.


The Cost of the War

  • WWI helped U.S. economy be more productive because U.S. was the world's banker.


The War's Effect on the U.S. Economy

  • War Industries Board organized railroads into one system and ordered more ships built to increase industrial production.
  • Standardize is to make all products with the same dimensions.
  • Business owners increased the prices of their products, gave small increases to workers. Thus, owner's profits increased.


[audio] Labor

  • Workers' wages and conditions improved very little because labor struck while the U.S. was neutral.
  • Mission of the National War Labor Board was responsible for working out agreements to prevent strikes.


Farmers

  • Farmers bought more machinery and farmed more land during WWI.


Financing the war

  • Income tax on people and taxes on business profits were raised for the U.S. to pay for the war.


Increased demand

  • Because of the rebuilding of Europe, and the needs of the American public, after the war there was a great demand for U.S. items.


Racism

  • African Americans moved to northern cities in 1915-1920 to escape discrimination and to find jobs.


Women

  • Women worked in blue-collar jobs meant the role of women changed during the war.