Economic Causes of World War I

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Table of Contents

Introduction
American Civil War
The Revolutionary War
Conclusion

Introduction

The murder of Archduke Ferdinand and his spouse in Sarajevo on 28 June 1914 sparked the July crisis that led to the British declaring war on Germany on 4 August. The killing of Archduke Ferdinand was a short-term causative factor. Five weeks of decision-making resulted in the start of a European war that quickly grew into a global conflict of unprecedented scope. Militarism, economic rivalry, nationalism, regional tensions, and the formation of the alliance system were other long-term and thematic causal factors of World War I. There was the competition between the United Kingdom, Germany, and France to exploit Africa economically. The American Civil War and the Revolutionary War provide unmistakable evidence that economic factors were the primary contributors to wars. Common economic factors that contributed to conflicts were competition for precious resources, imperialism, and fears of the effects of fiscal interdependence.

American Civil War

When the British colonized the South, they brought slavery with them, and by the 1850s, slave labor was essential in the agricultural industry. Slave labor was crucial to the plantation system’s vast growth of cotton and tobacco. Thus its replacement with wage workers would have been disastrous for the planters. As of 1860, the American South was generating 75% of the world’s cotton due to the institution of slavery on the part of its wealthy farmers. Public backing for slavery in the South was solid, and abolition would wipe out the enormous profits made by plantation owners. Nevertheless, beginning in the 1830s, with the second revival religious movement, staunch endorsement for slavery met growing criticism. An increasing number of Americans, particularly in the North, started to talk out against slavery on religious grounds.

Defenders of slavery upped their argument, saying that slaves needed to be owned for the economy to function and for the enslaved people’s good. Slavery’s apologists frequently appealed to racial stereotypes to make their case, claiming that slaves could not be trusted to take care of themselves and would be better off under the supervision of their masters. Hostilities broke out in April due to the South’s decision to break away from the Union and form the Confederate States of America in early 1861. The American South’s economy was in tatters by the time the Civil War ended. The Union army outlawed slavery in the South after their success in the Civil War. Many believe that industrialization, modern taxation, banking, and the usage of paper currency all began with the American Civil War.

The Revolutionary War

For the first half of the eighteenth century, Britain was preoccupied with its battles with other European countries, failing to safeguard the American colonies. Due to the need for the colonies to develop their own political and economic institutions, Britain adopted a ‘salubrious neglect’ policy, which resulted in lax enforcement of British mercantilist laws. Parliament’s focus shifted to the colonies when Britain claimed victory from the Seven Years’ War, despite incurring substantial war debts. Parliament’s new, more authoritarian stance toward the colonies marked the end of the age of ‘beneficial neglect’ in 1763. Britain’s new policies aimed to increase its authority over the territories by, among other things, taxing the colonists to raise money for the imperial guard that ensured the safety of the colonies. A series of new laws were created to regulate American economic operations in a way that benefited British mercantilists, and existing rules were enforced more strictly than ever before.

The Navigation Acts and the Writs of Assistance were among the preexisting laws that were given fresh enforcement. The Navigation Acts were a set of trade restrictions that mandated the use of British and colonial shipping for the transportation of commodities and imposed tariffs on products from anywhere other than Britain and her colonies. It was hoped that British business owners, producers, and shipbuilders, as well as their colonial counterparts, would benefit from these regulations. Court orders called Writs of Assistance were rarely used before 1763 and allowed British officers to scrutinize colonial homes, businesses, and ships for contraband goods. Unlike the earlier American search warrant, which only permitted officials to check in a specific spot for a particular object, European consent allowed investigators to scrutinize everywhere and seize contraband goods. Prime Minister George Grenville increased the number of royal tax collectors, supervisors, and naval patrols sent out in 1763 to enforce the Navigation Acts, while British officials enhanced the Writs of Assistance.

The new laws had an economic focus, encompassing the Stamp Act of 1765 and the Sugar Act of 1764. The Sugar Act lowered duty rates on non-British sugar imports into the colonies, although the law required strict adherence. Compared to other laws, the Stamp Act was more effective in sparking widespread outrage among the colonies. As opposed to the small commercial population that previously bore British taxes and tariffs, it was the first levy to involve a considerable part of colonists. Constitutional disputes were a significant cause of the American Revolutionary War against Great Britain. The struggle began in April 1775 with skirmishes between British forces and colonial fighters in Lexington and Concord and escalated into a full-scale war for independence the following summer.

Conclusion

Long-term and thematic causes of World War I included militarism, economic rivalry, nationalism, regional conflicts, and an established alliance system. Conflicts often broke out because of competition for limited resources, imperialism, and anxiety about the potential consequences of growing economic interdependence. The abolitionist effort to eradicate slavery throughout the US received a boost from the second great revolution. The Stamp Act caused more widespread outrage in the colonies than any other law. Battles at Lexington and Concord in April 1775 marked the beginning of what would become a full-scale battle for self-rule the following summer.

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Economic Causes of World War I

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