Hey all,
One reason France had trouble rearming in the 30s was that it stuck to the Gold Standard far longer than most of Europe. This kept its economy deflated, prevented them from running a deficit, etc. etc. And of course hindered rearmament.
Britain, meanwhile, went off the Gold Standard in 1931 and devalued its currency, and had a relatively mild Depression.
Suppose Britain had stayed on the gold standard til the bitter end? A worse depression, even more delayed rearmament, etc. Or suppose France goes off it earlier; say 1933. By 1939, their military is considerably better than OTL...
Thoughts?
One reason France had trouble rearming in the 30s was that it stuck to the Gold Standard far longer than most of Europe. This kept its economy deflated, prevented them from running a deficit, etc. etc. And of course hindered rearmament.
Britain, meanwhile, went off the Gold Standard in 1931 and devalued its currency, and had a relatively mild Depression.
Suppose Britain had stayed on the gold standard til the bitter end? A worse depression, even more delayed rearmament, etc. Or suppose France goes off it earlier; say 1933. By 1939, their military is considerably better than OTL...
Thoughts?