The Significance of Economic Change and Conflict

Industrial and Technological Changes

First wave industrialisation of the 18th and 19th centuries, focusing on sectors like textiles and iron, was giving way to second wave industrialisation in the early 1900s. This new wave saw the rise of industries such as chemicals, electricity and automobiles.
Innovations in technology, like the Bessemer Process and the establishment of automobile production with groups like Rolls-Royce and Morris Motors, altered production methods and improved efficiency.
While this led to major economic benefits and increased global trade, it also caused displacement within traditional industries, particularly those not able to adapt or compete with the new technologies.

Economic Disparities and Conflicts

Rapid industrialisation brought about an unprecedented scale of wealth creation, leading to the emergence of a class of entrepreneurs and capitalists with significant wealth and influence.
However, this wealth was not distributed evenly. The working-class were largely left behind, facing low wages, poor working conditions and job insecurities.
This inequality led to increased class conflict, as seen in numerous strikes and the rise of the Labour Party, which provided formal political representation for workers’ interests.

Economic Policies

The Liberal government (1906-1914) embarked on a series of social reforms partially aimed at addressing these disparities, including the introduction of a progressive tax system and the National Insurance Act.
These policies, along with increasing calls for protective tariffs, marked a significant shift towards a more interventionist state.

Impact of World War I

Economic conflict and hardship was exacerbated by the outbreak of World War I. The war strained the British economy with the need to finance the war effort and sustain the home front.
The war, however, also led to significant changes in the economic landscape, with women entering the workforce in large numbers and national resources being devoted to the war effort.
Post-war, there was a call for a “homes fit for heroes”, leading to an increase in public spending, further expanding the role of the state.

By keeping these points in mind, you can enhance your understanding of the significance of economic change and conflict during the period 1900-1918. It’s key to think about the correlation between these elements and wider societal shifts to truly grasp the complexity of this historical period.