Question

In: Economics

Describe a cause of WW1, and examine one economic consequence. Causes: Imperialism, military alliances, Ferdinand assassination....

Describe a cause of WW1, and examine one economic consequence. Causes: Imperialism, military alliances, Ferdinand assassination. Economic consequence: Peace treaty, sanctions on countries 300 + words, cite source

Solutions

Expert Solution

The causes of WW1 were as below:

1. Militarism- A race of weapons had started as the world entered the 20th century. Germany's army buildup had the largest rise by 1914. In this era, both Great Britain and Germany significantly improved their navies.
Moreover, the military establishment started to have a higher impact on public policy in Germany and Russia in particular. This rise in militarism helped to push the participating nations into conflict.

2. Imperialism- Imperialism is when a nation improves its authority and wealth by bringing under its control extra regions. Before World War I, between European nations, Africa and sections of Asia were points of contention. This was particularly true because these regions could provide raw materials. The growing competition and desire for higher empires resulted to a rise in conflict that helped push the world into the First World War.

3. Assassination of Archduke Franz Ferdinand-  The instant cause of the First World War that brought into play the above-mentioned objects (alliances, imperialism, militarism, nationalism) was the assassination of Austria-Hungary's Archduke Franz Ferdinand. A terrorist group called the Black Hand in June 1914 sent groups to assassinate the Archduke. When a driver prevented a grenade thrown at their vehicle, their first attempt failed. However, a Serbian nationalist named Gavrilo Princip later that day murdered him and his wife while they were in Sarajevo, Bosnia that belonged to Austria Hungary. This was in protest of this region being controlled by Austria-Hungary. Serbia wanted Bosnia and Herzegovina to take over.

This assassination led to Austria-Hungary declaring war on Serbia. When Russia began to mobilize due to its alliance with Serbia, Germany declared war on Russia. Thus began the expansion of the war to include all those involved in the mutual defense alliances.

Economic consequence are as below:

The Treaty of Versailles, signed in the Hall of Mirrors in Versailles Palace in Paris on 28 June 1919, was the peace settlement between Germany and the Allied Powers that officially ended the First World War. However, the terms of the Treaty were so punitive for Germany that many believe that the Treaty of Versailles laid the foundations for the eventual rise of Nazis in Germany and the eruption of World war 2

Economic sanctions have preceded or followed war throughout most of modern history, often in the form of a naval blockade designed to weaken the enemy. Economic sanctions were seriously regarded only when the horrors of World War I led President Woodrow Wilson to call for an alternative to armed conflict. In each of the two collective security systems established in this century — the League of Nations between the two world wars and the United Nations after World War II— sanctions were subsequently incorporated as an enforcement tool.

After the Soviet Union's fall and the end of the cold war, the U.N. The Security Council commonly sanctioned civil wars and national conflicts, particularly in Africa and Yugoslavia. The U.N. highest profile, though. Penalties were imposed on Iraq (1990–2003) before and after the Gulf War (1991). In addition to U.N. sanctions, major powers (foremost the United States) continue to deploy unilateral economic sanctions. Since 1990, “targeted sanctions”—aimed at political leaders, drug lords, and terrorists—frequently have been used in an attempt to avoid the humanitarian fallout resulting from broad-brush sanctions.


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