Norwegian seamen organize general strike, 1921
Following a rapid price increase and in turn wage increases (thanks to Union pressures), after the first half of 1920 prices in Norway began to rapidly fall. From 1919-1920, the cost of living rose by 16 percent, and in the subsequent period dropped 8 percent. Following the war, imports rose quickly and amounted to a surplus, marking the beginning of a turbulent global economy throughout the 1920s. Bankruptcies began to increase among businesses, feeling pressured by wage agreements and high interest rates.