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This book provides a fresh assessment of the impact of the First World War on the international economy. Leading academics offer new perspectives on the effects of the War on the long-term growth rates of the belligerent countries and examine its impact on individual sectors within these economies. Major issues considered include: a discussion of trade barriers as a scapegoat for the sluggish state of world trade in the 1920s a reassessment of the links between the First World War, German banking instability and the catastrophe in July 1931 the impact of the War on American manufacturing industry which continued to expand rapidly, boosting big business and redistributing some manufacturing to the south of the country the social and economic consequences of the war for the British and Indian cotton industries the impact of the war on the Japanese economy and society the effects of the war on organized labour and the female labour force.