Editing 1910s (section)

== Economics ==
* In the years 1910 and 1911, there was a minor economic depression known as the [[Panic of 1910–1911]], which was followed by the enforcement of the [[Sherman Anti-Trust Act]].
* The outbreak of [[World War I]] caused the [[Financial crisis of 1914|Financial Crisis of 1914]], leading to the closure of the [[New York Stock Exchange]] for four months. U.S. Treasury Secretary William McAdoo implemented measures to stabilize the economy, marking the United States' transition from a debtor to a creditor nation.<ref>{{cite book |last=Silber |first=William L. |title=When Washington Shut Down Wall Street: The Great Financial Crisis of 1914 and the Origins of America's Monetary Supremacy |publisher=Princeton University Press |year=2007 |isbn=978-0-691-13876-3}}</ref>
* Following the [[Bolshevik Revolution]] in 1917, Russia experienced severe hyperinflation due to economic disarray and war. By 1924, three currency redenominations occurred, culminating in the introduction of the "gold ruble," stabilizing the economy.<ref>{{Cite journal |last=Efremov |first=Steven |date=2012-08-15 |title=The Role of Inflation in Soviet History: Prices, Living Standards, and Political Change |url=https://dc.etsu.edu/etd/1474/ |journal=Electronic Theses and Dissertations}}</ref>
* The United States emerged as a global economic power during World War I, benefiting from industrial expansion and increased consumerism. Wartime loans to Allied nations further strengthened its financial position.<ref>{{cite book |last=Brinkley |first=Douglas |title=Wheels for the World: Henry Ford, His Company, and a Century of Progress, 1903–2003 |publisher=Penguin Books |year=2004}}</ref>
* The British government implemented extensive controls during World War I under the [[Defence of the Realm Act 1914|Defense of the Realm Act]], nationalizing key industries and introducing food rationing. Postwar economic challenges included high debt and unemployment.<ref>{{cite book |last=Marwick |first=Arthur |title=The Deluge: British Society and the First World War |publisher=Bodley Head |year=1965}}</ref>
* Germany's wartime mobilization strained its economy, leading to shortages and inflation. The [[Treaty of Versailles]] in 1919 imposed reparations that further destabilized its postwar economy.<ref>{{cite book |last=Keynes |first=John Maynard |title=The Economic Consequences of the Peace |publisher=Macmillan & Co. |year=1919}}</ref>
* Italy faced significant economic challenges during World War I, including a 40% devaluation of its currency relative to the British pound. Allied intervention stabilized its currency in 1918.<ref>{{cite journal |last=Sarti |first=Roland |year=2004 |title=Italy: A Reference Guide from the Renaissance to the Present |journal=Facts on File Library of World History}}</ref>
* Japan experienced rapid industrialization during World War I, driven by increased demand for exports such as textiles and machinery. This period saw significant growth in heavy industries like steel and shipbuilding, concentrated in urban centers along the [[Taiheiyō Belt|Tōkaidō industrial belt]].<ref>{{cite web |title=Japanese Industrialization and Economic Growth |url=https://eh.net/encyclopedia/japanese-industrialization-and-economic-growth/ |access-date=2025-03-14 |website=eH.net}}</ref>