What was the impact of the First World War on the world economy and general life?
The First World War was the first modern industrial war. The fighting involved the world’s
leading industrial nations viz Britain, France and Germany, but its impact was felt around the
world. This war saw the use of machine guns, tanks, aircraft and chemical weapons on a massive scale for the first time. Economically, this war proved to be very costly .This war proved to be very destructive. It is estimated that during the period of 4 years, about 9 million people were killed, 6 million were disabled and about 20 million were wounded. Most of the killed and wounded were men of working age, leading to reduction in the able bodied workforce in Europe.