1914 is a turning point in world history. The political and social processes that began in 1789 culminated in the First World War, so historians call this period 'the long nineteenth century'. Three major empires lay shattered by its end: Germany, Austria–Hungary and the Ottomans. Its biggest outcome was the Russian Revolution, and for the first time countries tried to bring about world peace through the League of Nations.
1. Scramble for Colonies
- In the nineteenth century Europe emerged as the dominant power while Asia and Africa were colonised; within Europe, England was the world leader of capitalism.
- Monopoly capitalism: after 1870 the alliance of industry and finance became evident and the old ideas of free trade collapsed. There were trusts in the USA and cartels in Germany.
- A trust is an industrial organisation engaged in the production or distribution of a commodity, with adequate control over its supply and price.
- According to Lenin, "imperialism is the highest stage of capitalism".