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The financial burden of the Treaty of Versailles was labelled "reparations", which distinguished them from punitive settlements usually known as indemnities. The reparations were intended for reconstruction and as compensation for families who had been bereaved by the war. [ 20 ]
Nazi Germany maintained a supply of slave labor, composed of prisoners and concentration camp inmates, which was greatly expanded after the beginning of World War II. In Poland alone, some five million people were used as slave labor throughout the war. [16]
Virtually all the taxes that would be collected by the government were spent on the military operations which turned out to be about also 80% of the entire budget in c. 150. Due to the huge financial burden that the maintenance of the military operations would have on the economy, techniques were thought up to help solve the burden.
Mount Washington Hotel. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel, in Bretton Woods, New Hampshire, United States, to regulate what would be the international monetary and financial order after the conclusion of World War II.
After World War II ended, the main four Allied powers – Great Britain, The United States, France, and the Soviet Union – jointly occupied Germany, with the Allied occupation officially ending in the 1950s. During this time, Germany was held accountable for the Allied occupation's expenses, amounting to over several billion dollars. [21]
A temporary war economy can also be seen as a means to avoid the need for more permanent militarization. During World War II, U.S. President Franklin D. Roosevelt stated that if the Axis powers won, then "we would have to convert ourselves permanently into a militaristic power on the basis of war economy." [3]
The whaler on HMS Sheffield being manned with an armed boarding party to check a neutral vessel stopped at sea, 20 Oct 1941. The Blockade of Germany (1939–1945), also known as the Economic War, involved operations carried out during World War II by the British Empire and by France in order to restrict the supplies of minerals, fuel, metals, food and textiles needed by Nazi Germany – and ...
Military production during World War II was the production or mobilization of arms, ammunition, personnel and financing by the belligerents of the war, from the occupation of Austria in early 1938 to the surrender and occupation of Japan in late 1945.