All the world can feel the war everywhere, from increasing prices to the lack of labourers.
What do we get from the war?
The deep question that I was thinking of so many times, couldn’t reach the right answer despite all the situations and Government justifications whenever we have wars.
Death, injury, sexual violence, malnutrition, illness, and disability are some of the most threatening physical consequences of war, while post-traumatic stress disorder (PTSD), depression, and anxiety are some of the emotional effects.
What was the impact of war on society and the economy?
Putting aside the very real human cost, war has also serious economic costs – loss of buildings, infrastructure, a decline in the working population, uncertainty, rise in debt and disruption to normal economic activity.
There are no real victors in wars as all parties involved have to suffer the consequences with often high numbers of casualties on both sides. Rather than dealing with the consequences resulting from war and its end, this text will look into its direct effects on people, politics, the economy and the environment.
What are the effects of war on society?
War destroys communities and families and often disrupts the development of the social and economic fabric of nations. The effects of war include long-term physical and psychological harm to children and adults, as well as a reduction in material and human capital.
Recent Ukraine crisis!
The effect of war on food prices
As hostilities step up in Ukraine, the drumbeat of the wider economic war is getting louder. Energy and other commodity prices have been rising steeply, and the prospect of an embargo on Russian oil has accelerated that food prices were already rising before war broke out, due to the Covid pandemic, supply chain disruption and energy prices increasing major exporters of grain and vegetable oil, conflict around the Black Sea is already disrupting shipping. As global commodities, food price inflation is gathering pace.
The prospect of an oil embargo on Russia, at least for its US and European customers, has sent the price soaring once more.
Four months ago, the price of Brent crude was below $70 per barrel. Last week, it rose 21%. As the new week’s trading began in Australia, the price of benchmark Brent crude surged 10%, hitting $130 per barrel. Traders are reported saying it could surge through the $147.50 record price set in the turmoil of 2008.
A lot of that can be explained by comments on Sunday made by Antony Blinken, the US Secretary of State, saying in an NBC interview: “We are now in very active discussions with our European partners about banning the import of Russian oil to our countries, while of course, at the same time, maintaining a steady global supply of oil”.
The discomfort of imposing sanctions while continuing to spend $1bn per day to Russia to pay for its oil and gas (Russia supplies 8% of US oil demand) is turning the tide towards sanctions that could bite very hard at fuel prices for Europe, the US and beyond.
The concern in Europe is about losing the supply of Russia’s natural gas. Its price ended last week on a spectacular surge, beating the record set in December, and getting very close to £5 per therm. Its trend level before it began to rise in the middle of last year was around 40p.
And much more that we could have in the future which we don’t feel safe about.
Are the benefits really worth it?