The twenties in Britain and the United States
The Great War redrew international equilibrium: Europe lost its role as the world economic center to the United States. The war had cost to European countries about 30% of their wealth. Who benefited most of the Great War was the United States because the US territories were not touched by the war and also because they invested in the war by sending weapons, the US economy also came out stronger: in fact the United States had intervened because they had lent large sums Britain and France, and then, taking part, wanted to make sure that these debts were settled.
In this economic hegemony, he did not respond, however, political hegemony: the United States, in fact, had no interest in taking a leadership role in the world.
This is because, after the death of Wilson, the Republican Party was to assume the post of presidency. His policy was to isolationism (not interested in European issues and the interest was only to American territory).
Also after the war the situation inside English and French was formed by years of social struggles. The workers' struggles ended with the overthrow of the government because the democratic tradition was more solid. In fact, in countries that had a less solid democratic tradition, the post-war crisis led to the overthrow of the republican governments and the establishment of dictatorships.
Also during the Great War he made its appearance the phenomenon of dirigisme, with a massive state intervention in the organization of production. Governments, in fact, were not allowed to leave the economy in the hands of the only private, but had to submit to strict control, to produce the weapons necessary. In Germany and in Austria-Hungary, governments also intervened to support agricultural production. Because of these actions, the war economy was very different from that of peace.
Also the fact that Britain had lost economic primacy became evident in 1919 when Britain abandoned the convertibility of the pound in gold. Until then it had been adopted a monetary system based on gold standard (the states were printing paper money based on the amount of gold present in the state coffers). But during the war and immediately after, to cope with the economic crisis the European countries had printed too much paper money. Then it was decided to adopt the Gold Exchange Standard, where the value of money depended not only gold but could act as guarantor the strongest currency (dollar, pound). Through the continuous development, in the twenties the United States became the leading country of the world economy and a kind of model for capitalist societies. Industrial growth was very significant in the automotive industry, but also agriculture was mechanized and therefore experienced an increase in productivity.
Also he won at the world what is called American way of life (sign of growth in living standards of all people in Europe still could not aspire to have the standard of living).
The Twenties in America were called Roaring Twenties (years of great economic development but also of great change at the social level) and 1920 to 1929 the United States was driven by three Republican Presidents Harding, Coolidge and Hoover. In domestic policy the republican governments, in the economic, chose and carried out a policy of unbridled liberalism, a policy in favor of employers and big industrialists.