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Mathematics & Economics
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20th Century Europe Progressed Economically (Essay Sample)


Please separately states European economic events on pre1919, 1920-1945,1946-1973, and 1973-present. And analyze the promotion of the economic situation at that time
1. Focus on economic responses
2. Briefly describe the effects of war, inflation, trade, technologies and demands for an increasingly knowledge-based workforce that have created new shifts and trends in economic activity
3. An assessment of the prevalence of dirigism (i.e., efforts of governments to control their economies) across the continent
4. An exploration of the economic transition of Eastern Europe and the evolution of the European Union experiment both internally and in the context of a more globalized economy
There are two mandatory references:
1. Aldcroft, D.H., Morewood, Stephen, The European Economy Since 1914, 5th Ed., London and NYC, Rutledge, 2001.
2. Eichengreen, The European Economy Since 1945, Princeton, NJ, Princeton University Press, 2


20th Century European Economy
In the few years prior to WWI, Europe progressed economically, but the in the northwest, especially, Britain, France, Germany, Belgium, and the Netherlands experienced high growth and development compared to other regions (Aldcroft & Morewood, 2001). Pre-war capitalist development improved when there transfer of resources between nations, but he war affected Europe’s economy and growth prospects with many men entering the military service.
In 1920-1945 Europe was weakened considerably after WWI and this affected the international economy growth prospects besides physical destruction there was contraction in output and the countries affected by the war suffered economic distress. The US provided loans and assistance to the Europeans after WWI. Reconstruction schemes were organized after World War 2. The post-war boom and collapse in the 1920s occurred at a time when governments abandoned the control over economic activities and resulted in high price rises and inflation.
The rise in industrial costs and restrictive fiscal and monetary policies after WWI reduced the flow of credit and reduced exports. As such, currency depreciation, inflation, and tariff protection became viable policy options to expand industrial growth and development in the countries, especially those whose boudoirs were redrawn and those most affected by the war (Aldcroft & Morewood, 2001). In the 30s the countries suffered economic decline and then recovery, but those that resulted to extreme protection and deflation courses suffered worse economic problems. Nazi German had both elements of capitalism and high central planning, while increasi

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