Socio-Economic and Political Changes in the Post-World War England Research Paper

Socio-Economic and Political Changes in the Post-World War England - Research Paper Example The Great War was an arena for women to enhance their ability to fight for equality as well as social status from which they had been barred as subordinate and inferior to aristocrats. This move resulted in the depletion of social dominance of the upper class and men. This change brought in the emergence of a new Labour party. The economic effect of the war was very much theatrical in England and other prominent countries that resulted in the expansion of governmental powers and responsibilities. Until then England was the greatest creditor nation in the world with the widest fleet of commercial vessels. They were the monopoly for shipping and other numerous financial services to the rest of the world. England’s strive for domination of the world ended up in paying a huge price in the war. As an inevitable result, England had to leave itself heavily indebting to America. Subsequently, America emerged to be the new financial hub and political power of the world. In order to regulate the economic power of the society, they created government ministries and portfolios. With a motto to suddenly recover from economic crises, it had to force taxes and enactment of new laws. The war also weakened the financial status of provincial rulers and bureaucratized governments in England. Â  With the collapse of the British economy, all European nations increased their share of GDP. Britain had to surrender its extensive investment in the railroad to America for payment of purchases. In late 1916, America stopped loans to England and even asked them to repay the debt. England finally had to take the help of Germany in meeting the funds required for repayment of debts. The war developed macro-and microeconomic consequences in England. During the war, most families had lost their wage earner as a result women entered the job market with a stubborn sense of voting rights. The Royal British government had to force rationing system for sugar, meat, and fat. The rationing system was accepted by people with an amusingly increased number of people joining trade unions. With the rise in the workforce, strikes and lockouts became frequent in England during 1916 – 1918.