Evaluate the Response of the Lloyd George Government to the post-war Essay

Evaluate the Response of the Lloyd George Government to the post-war economic crisis in Britain - Essay Example Its economy observed grave recession for the future years to come. The great Depression of 1929-1933 was also the outcome of the World War I and international economic crisis. David Lloyd George of Liberal Party was the Prime Minister of England during and after the WW-I. Personally, George possessed the instinct of a statesman. First nominated in December, 1916, he was re-elected in December 1918 elections with an overwhelming majority, and it was the hour of trial for the post war government to build the confidence of the masses at the eve where everything was to reconstruct from the zero hour with great patience, endurance and foresight. The beginning of twentieth century witnessed the fastest economic growth in world history. Trade and commerce were at their climax, and England, Germany, France, Belgium and the USA were among the pioneers in respect of rapid economic developments. The escalating British Industry had been depending on its trade and export, which significantly suffered during war due to German blockade everywhere in the Mediterranean. Forty percent of British merchant fleets had been destroyed by German submarines in the war, making it difficult to export goods. Other countries imposed high tariffs on imports to protect their own industries, but this hurt Britains economy. Britains old and outdated factories, machines, and mines also hurt its industries. (Shammons: quoted in http://www.angelfire.com/ca2/shammons/aftermath.html). British economy began to decline right from 1914 partly due to the allocation of resources and concentration at war, and the decline of trade activities as well. The year 1919 brought the happy news of financial reconciliation in England, but it was mere bubble of water, and the recession continued till the world observed the worst form of economic depression in 1921. The Britain foreign investment got a net loss of 300 million