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The Habsburg Empire in World War I: Essays on the Intellectual, Military, Political and Economic Aspects of the Habsburg War Effort (1977) Schulze, M.-S. "Austria-Hungary's Economy in World War I", in Stephen Broadberry, and Mark Harrison, eds. The Economics of World War I (2005) ch 3 pp 77–111; Wargelin, Clifford F.
The Consumer Price Index was initiated during World War I, when rapid increases in prices, particularly in shipbuilding centers, made an index essential for calculating cost-of-living adjustments in wages. To provide appropriate weighting patterns for the index, it reflected the relative importance of goods and services purchased in 92 ...
The value of the German currency continued to fall in the immediate aftermath of the First World war. By late 1919, by which time the German government had signed the Treaty of Versailles, which included an agreement to pay substantial reparations to the Allied powers both in hard cash and in in-kind shipments of goods such as coal and timber, 48 paper marks were required to buy a US dollar. [4]
The European liquidation of American securities in 1914 (also called the financial crisis of 1914) was the selloff of about $3 billion (equivalent to $91.26 billion in 2023) of foreign portfolio investments at the start of World War I, taking place at the same time as the broader July Crisis of 1914.
Before World War II, the events of 1914–1918 were generally known as the Great War or simply the World War. [1] In August 1914, the magazine The Independent wrote "This is the Great War. It names itself". [2] In October 1914, the Canadian magazine Maclean's similarly wrote, "Some wars name themselves. This is the Great War."
The rationing and price controls enforced in many countries during World War II encouraged widespread black market activity. [25] One source of black-market meat under wartime rationing was by farmers declaring fewer domestic animal births to the Ministry of Food than actually happened. Another in Britain was supplies from the US, intended only ...
The Allies had much more potential wealth they could spend on the war. One estimate (using 1913 US dollars) is that the Allies spent $58 billion on the war and the Central Powers only $25 billion. Among the Allies, the UK spent $21 billion and the US$17 billion; among the Central Powers Germany spent $20 billion.
Since World War II, the original index has mostly fluctuated between 100 and 120, with peaks (followed by precipitous falls) in 1Q 1979 (which peaked at 122), 3Q 1989 (at 126), and 1Q 2006 (at 198). After the 2000s housing bubble, the low point of the index was in 1Q 2012, at 114.