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6 - The interwar years

Published online by Cambridge University Press:  05 June 2014

David S. Landes
Affiliation:
Harvard University, Massachusetts
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Summary

THE ECONOMIC CONSEQUENCES OF THE PHONEY PEACE

It is not easy to write the economic history of the twentieth century. For one thing, it is too close to us; for another, it is messy by comparison with the halcyon nineteenth. For a hundred years Europe had not known a major war, and her economies had been free to develop with little distraction from political and military quarters. To be sure, all of them in some degree had started with the handicap of a pre-industxial social and legal structure, some of it not only not favourable to capitalism but developed in antagonism to it. But the history of economic policy in the nineteenth century is largely one of liberation from this legacy, and to the degree that this liberation was effective and the natural and human resources for growth were available, the economies of Europe transformed themselves and waxed mighty. The story of each, mutatis mutandis, fits closely to a kind of ideal model of modernization; the leitmotif is the process of industrial revolution.

The twentieth century by contrast is a confusion of emergencies, disasters, improvisations, and artificial expedients. One passes in a few weeks of 1914 from a quiet stream, as it were, to white water.

Yet economic history, more even than other branches of history, abhors chronological boundaries.

Type
Chapter
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The Unbound Prometheus
Technological Change and Industrial Development in Western Europe from 1750 to the Present
, pp. 359 - 485
Publisher: Cambridge University Press
Print publication year: 2003

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  • The interwar years
  • David S. Landes, Harvard University, Massachusetts
  • Book: The Unbound Prometheus
  • Online publication: 05 June 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9780511819957.008
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  • The interwar years
  • David S. Landes, Harvard University, Massachusetts
  • Book: The Unbound Prometheus
  • Online publication: 05 June 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9780511819957.008
Available formats
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To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • The interwar years
  • David S. Landes, Harvard University, Massachusetts
  • Book: The Unbound Prometheus
  • Online publication: 05 June 2014
  • Chapter DOI: https://doi.org/10.1017/CBO9780511819957.008
Available formats
×