Final answer:
The most important cost of WW1 was the heavy loss of life and subsequent societal upheaval, including the psychological aftereffects on survivors. The war also had significant economic impacts and set the stage for future conflicts, contributing to a legacy of unresolved tensions and the rise of extremist ideologies.
Step-by-step explanation:
The most important "cost" of WWI is often considered to be the tremendous loss of life and the massive political and social upheavals it caused. The total military deaths for the Allied powers amounted to over 5.7 million, with an additional four million from the Central Powers. This colossal human toll carried profound consequences for the postwar period, leading to significant geopolitical changes and undermining the stability of several nations.
Apart from the loss of life, the economic strain was also astronomical. The United States alone spent over $32 billion on the war, with additional costs for interest expenses and veterans' benefits pushing this figure to over $100 billion. The economic repercussions extended worldwide, causing trade disruptions and heavy debts which put a strain on global economies.
The social impact of WWI was no less significant. It led to a "lost generation" profoundly affected by the horrors of war, resulting in a shift from traditional values and practices. The aftermath of the war saw the rise of nationalism and saw many nations reeling from the psychological scars left by the conflict.
Legacy of World War I
The legacy of World War I included the Treaty of Versailles, which imposed harsh penalties on Germany, the emergence of the "Stab in the Back" myth in Germany, and the foundation for the eventual rise of fascism. It failed to establish lasting peace and instead set the stage for further international tension and conflict.