In 1918 Britain had won the war on the Western Front by a huge feat of military modernization. In the 1920s… — Niall Ferguson

In 1918 Britain had won the war on the Western Front by a huge feat of military modernization. In the 1920s nearly everything that had been learned was forgotten in the name of economy. The stark reality was that, despite the victory and the territory it had brought, the First World War had left the Empire more vulnerable than ever before. War had acted as a forcing house for a host of new military technologies – the tank, the submarine, the armed aeroplane. To secure its post-war future, the Empire needed to invest in all of these. It did nothing of the kind.

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