Essays on The Interwar Trade Regime Versus the Trade Regime after World War II Report

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The paper "The Interwar Trade Regime Versus the Trade Regime after World War II" is a wonderful example of a report on macro and microeconomics. The international political economy remains to be an issue of global concern in relation to the impact of the trade regime that followed the Second World War and the regime that operated throughout the interwar period. Walther (2014) ascertains that the world has ever experienced two deadly global world wars that had a synergistic impact on global trade and economy since time immemorial. According to Nelson (2011), the First World War referred to as WWI was a global war centered in Europe starting from 28th July 1914 to 11th November 1918. The First World War occurred as a result of the assassination of Archduke Franz Ferdinand, the heir to the throne of Austria-Hungary by a Gavril Principe in Sarajevo.

According to Whalen (2011), two decades later, the Second World War known as WWII cropped in and lasted for six years of economic degradation from 1939 to 1945 with related conflicts beginning earlier. Adolf Hitler, one of the prominent German Politicians invaded Poland in 1939 and marked the beginning of the deadly war.

Though noxious and destructive, the end of the Second World War in 1945 marked the beginning of the post-war economic boom also referred to as the Golden Age of Capitalism. The global economic expansion lasted for a period of 26 years. For instance, the economic boom ended with the demise of the Bretton Wood Systems in 1971, the oil crunch of 1973, and the stock market crash of 1974 referred to as the 1970 recession. It is, therefore, imperative to discuss how the trade regime that came after the Second World War differed from the system that operated throughout the interwar period.

In addition, this paper will discuss the ideas, interests, and institutions that propelled the post-war economic boom. Overview of the trade regime that operated throughout the interwar period Nelson (2011) termed the interwar period as the time that separated the two deadly world wars starting from 1919 to 1938. During World War I, extensive government controls replaced the international trade relations in regard to private commercial transactions as different countries dedicated their output to support national war efforts.

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