Both sides in World War I paid a tremendous price in terms of human life. About 8.5 million soldiers died as a result of the war. Another 21 million were wounded. In addition, the war led to the death of countless civilians by way of starvation, disease, and slaughter. Taken together, these figures spelled tragedy. An entire generation of Europeans wiped out.cost of the war at $338 billion, a staggering amount for that time. The war also destroyed acres of farmland as well as homes, villages, and towns.