THE ECONOMIC CAUSES AND CONSEQUENCES OF THE FIRST WORLD WAR

Event date
September 19-20, 2014
Venue
Faculty of Economics, University of Belgrade, Belgrade
Country
Serbia
Short description

The Conference aims to highlight the economic causes and consequences of World War I up to the onset of the Great Depression and the role and impact of economic ideas and ideologies of the time. The Conference especially encourages papers dealing with the state of the economy preceeding WWI and the consequences of the war and its aftermath. These, like other papers can be written from the theoretical, political economy and international political economy or other economic perspectives. Papers dealing with the economic history of Southeast Europe are especially encouraged. Papers written from other regional perspectives are also more than welcome.

Description

 

The Conference aims to highlight the economic causes and consequences of World War I up to the onset of the Great Depression and the role and impact of economic ideas and ideologies of the time. The Conference especially encourages papers dealing with the state of the economy preceeding WWI and the consequences of the war and its aftermath. These, like other papers can be written from the theoretical, political economy and international political economy or other economic perspectives. Papers dealing with the economic history of Southeast Europe are especially encouraged. Papers written from other regional perspectives are also more than welcome.

 

 

Abstract and Paper submission

Authors are invited to submit abstracts of an original research paper until March 31, 2014, in electronic form ( to e-mail address: cis@ekof.bg.ac.rs). The abstracts are to be written in the English language.

An abstract should include:

  • the title of the work
  • the full name and the address (including e-mail) of the author, the affiliation
  • between 300-500 words, typed in Font 12, Times New Roman style
  • Key words
  • JEL classification

 

Typically, the final paper should have 10-20 pages in total (including tables, graphs, appendices and references), according to the given template.

 

The submitted papers will be reviewed by an international board of referees and authors will be notified of acceptance.

Official language of the Conference: English

More information at http://internationalconferencewwi.ekof.bg.ac.rs/

Background

The First World War came at a time when it looked like the major world economies were prospering. It also, came as a surprise to many business and political leaders with a suddenness that was shocking. Even more shocking was the Great War itself, as well as its consequences, political and economic alike.

The period before World War I was characterized by one of the greatest expansions in the history of the major world economies of the time, with the exception of the United Kingdom that was still the dominant world financial center in 1914. In fact, the whole period has been labeled as the first modern globalization. This seems justified looking at the, up to that point in history, unprecedented levels of foreign trade, foreign direct investment and immigration. What were the consequences of the abrupt end of this globalization and do they have any lessons for us today? Were the seeds of globalization so firmly planted then, that the current globalization seems to be a belated direct offspring of the one that occurred before World War I? Does the opposite view – that the first modern globalization lead to conflict and its own demise, stem directly from the analysis of the causes of World War I? Can the current wave of globalization produce similar conflicts or breakdowns?

At the time that preceded World War I and in spite of the rise of economic liberalism and globalization, the protectionist infant industry arguments held their sway among some of the major economies of the time (US, Germany). Simultaneously, along with economic expansion came imperialism, the expansion of colonialism and the ever deeper divide between the center and periphery of the world economy. Marxist and underconsumptionist analysis gave rise to theories of finance capital and imperialism with pessimistic predictions for world peace. To what extent was the economic expansion really tied to the struggle for raw materials and markets? Was the competition for the acquisition of colonies economically justified? In other words, did the political ideologies of the time override the economic rationality embedded in some of the views of the time that economic interests were two intertwined rendering large scale conflict among nations impossible (Norman Angell).

World War I itself gave rise to the role of the state due to the need for the financing of war operations and the running of the war economy. Growing government debt (the introduction of the debt ceiling in the US was a consequence of the growth in Federal debt during World War I) and growing international debt were the most direct results. Furthermore, one of the consequences of World War I was the abandonment of the gold standard and the rise of inflation and inflationary pressures.

The consequences of the war were devastating in terms of both human losses and wealth and GDP destruction. The Versailles Treaty that was so aptly criticized in Keynes’ Economic Consequences of the Peace, brought heavy reparations on Germany and did not relieve the European Allies of debt. The financial center of the world moved to New York, the golden standard was reestablished with detrimental consequences for employment in the United Kingdom. Furthermore, it encouraged and gave impetus to depression tendencies with rising unemployment as a structural feature of European economies. Paris was hoping to compete with London with the ambition of becoming the financial center of Europe. Inflation in Germany led to bitterness and resentment that fueled the drive to power of national socialists. A new system of a planned economy under a communist ideology was formed in the USSR, challenging the capitalist system itself. The boom in America lifted by the application of new technological breakthroughs ended in the Great Depression. Europe lagged behind.

All this led to new ideas and  paths  in economics including Keynes’s blueprint  for the reconstruction of Europe, the von Mises’  critique of socialism, the rise of central planning,  the rise of the Austrian school, just to mention a few. In addition, other anti – free market ideologies found their way giving rise to corporatism.

The Conference invites papers dealing with all of the mentioned issues. Papers on economic history, history of economic thought and economic theory as well as those written from a comparative economics, political economy and international political economy perspective, are welcome. Papers dealing with individual or regional economic histories are encouraged as well.

 

Important Dates

 

  • May 01, 2014 - abstract submission deadline
  • May 10, 2014 - abstract acceptance notification
  • July 31, 2014 - full paper submission
  • August 20, 2014 - paper acceptance notification
  • September 19-20, 2014- conference

 

 

Conference Fee

 

The participation fee is 80 EUR (for postgraduate students the fee is 40 EUR).

Students must submit the confirmation of their status.

 

The participation fee covers the Conference materials, a ceremonial dinner, break refreshments, working lunch and other events.

 

 

Contact information

 

Faculty of Economics,

University of Belgrade

Kamenicka 6

11 000 Belgrade

SERBIA

Phone: + 381 11 3021 068

Fax: + 381 11 2639 560

E-mail: cis@ekof.bg.ac.rs

Web: http://internationalconferencewwi.ekof.bg.ac.rs/

 

Geographical focus
  • Europe
  • International; Other
  • SEE
  • WBC
Scientifc field / Thematic focus
  • Social Sciences
Event type
  • Conference Danube region
  • Conference WBC

Entry created by Jelena Cvetanovic on March 7, 2014
Modified on April 2, 2014