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BIG ENCYCLOPEDIA FOR CHILDREN AND ADULTS
How did the post-war recovery of the world economy take place? Detailed answer
Directory / Big encyclopedia. Questions for quiz and self-education Did you know? How did the post-war recovery of the world economy take place? Before all the states participating in the war, the tasks of demobilizing multimillion-strong armies, finding employment for the demobilized, transferring industry to peacetime production, and restoring military destruction were acutely faced. The economies of the defeated countries, especially Germany and Japan, suffered the most. In most European countries, the card distribution system was maintained, and there was an acute shortage of food, housing, and industrial goods. Only in 1949 did the industrial and agricultural production of capitalist Europe restore its pre-war level. The economies of the United States and Canada, as well as some countries of Latin America that were not affected by the war, developed at a much faster pace. The United States was far ahead of all other capitalist countries in terms of the rate of development and volume of industrial output. In 1948, the volume of American industrial production was 78% higher than the pre-war level. The United States then produced more than 55% of the industrial output of the entire capitalist world and concentrated almost 75% of the world's gold reserves in its hands. The products of American industry penetrated the markets where the goods of Germany, Japan or the US allies - England and France - previously dominated. Second place in the capitalist world was occupied by Great Britain, followed by France and other countries. The superiority of the United States was secured by a new system of international monetary and financial relations. In 1944, at the UN conference on monetary and financial issues in Bretton Woods (USA), it was decided to create the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), which became intergovernmental institutions that regulate monetary and credit relations between their constituent capitalist states. The participants of the conference agreed to establish a fixed gold content of the dollar, on which the rates of other currencies were guided. The US-dominated International Bank for Reconstruction and Development provided IMF members with loans and credits to develop the economy and maintain balance of payments equilibrium. An important measure to stabilize the economic life of post-war Europe was the “Marshall Plan” (named after the US Secretary of State) - US assistance to Western countries for economic recovery. For 1948-1952 this aid amounted to $13 billion. By the beginning of the 1950s. the countries of Western Europe and Japan largely overcame the consequences of the war. Their economic development accelerated. A rapid economic recovery began. They restored their economy and began to overtake rivals Germany and Japan. The rapid pace of their development began to be called an economic miracle. In some European countries, partial nationalization of industry and banks was carried out. This was insisted upon by the broad masses of the people, who thus sought to open the way for social progress. Some circles of the bourgeoisie also advocated nationalization, believing that state regulation of the economy would be able to strengthen the positions of the bourgeoisie and save their countries from economic crises and social upheavals. In the first post-war years in most European countries and the United States, state regulation of social relations intensified. Social legislation was updated and expanded, state regulation of relations between labor and capital was strengthened, paid holidays were restored, various social benefits were increased, including unemployment benefits, disability benefits, etc. Thus, an extensive social infrastructure was created. The state began to play a decisive role in the development of science, education and health care, in the construction of schools, hospitals, etc. As a result, capitalism acquired certain new features, and the material situation of the working people improved. Serious changes have taken place in the ideology of the ruling classes of the capitalist countries. The leading role now began to be played by supporters of state regulation of the economy, who were inspired by the ideas of John Keynes and sought to adapt them to new conditions. Author: Irina Tkachenko
What is an icon? This is an image of the Savior, the Mother of God, saints in the Orthodox Church, which were created starting from the XNUMXth century in Greece, Russia, Romania and Cyprus by icon painters. At first, icons were painted with melted wax paints (encaustic) on wooden boards, later with tempera, oil paints, and created using the mosaic technique. Since believers often kissed the icon, its image was protected with silver plates (oklad).
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