Responses to the Great Depression (The United States US Flag pic (…
Responses to the Great Depression
The United States
The Crash of 1929 is considered one of the worst economic disasters in modern history. The US economy was growing during a time period called the Roaring 20's. The problem at this time was that bankers and other rich people had caused inflation in the value of the stock by buying tons of shares to show confidence when really there was nothing to back this confidence in market analytics. The people then continued to buy shares at an egregious rate until word came out that the economy wasn't as stable as originally thought. This led to around 14-16 million people selling their shares in a single day leading to the Crash, which would cause unemployment, poverty, and fear.
Keynesian Economics: Keynesian Economics was an attempt to understand the Great Depression. The economic theory suggested that the government interfere to stimulate job growth and lower taxes to create a demand economy that focuses on the short term effect.
Smoot Hawley Tariff Act of 1930: The Smoot Hawley Tarrif act was a piece of legislation that targeted external goods by taxing all imports to the United States. The act is debated among economists as to the effect it really had on the Great Depression. Some argue that it played a major role in the Depression by increasing the prices of goods for consumers, while others argue that the raised prices didn't really effect it that much.
The New Deal: The New Deal was a series of initiatives by FDR that created job employment through new governmental agencies. Governmental agencies would develop projects such as the creation of new infrastructure to spur job employment and hopefully lead to a bettered economy.
Americans at this time were most likely unemployed. Jobs were hard to come by and only a select few of the jobs available could even pay for a warm meal. Americans were losing their homes, starving, and losing hope
American Economic Contraction: An economic contraction is when a country fails to grow its GDP for two quarters, unemployment rises, and housing prices go up. Another word for this is recession. The American Economic Contraction was during the 1930's in the Great Depression. The US experienced increased unemployment and greater poverty.
The type of government at this time was Totalitarianism. This government under Hitler was completely centralized around and dictated by Hitler. He was allegedly supposed to serve the state, so for this portion of the definition it was more of a dictatorship.
The Nazi Party rose to power with Adolf Hitler at the head. This was National Socialist party that looked to solve economic issues. They were extremely radical and were strong supporters of anti-semitism and German Pride.
National Socialism was the political doctrine of the Nazis. It was led by an intense sense of nationalism and racial superiority, mass appeal, and a dictatorial rule.
Adolf Hitler was able to rise to power mainly in part to the depression. He utilized manipulations and promises for the relief of the people to push his agenda and anti-semitism. He continued to gain popularity among the people as conditions got worse and worse, and eventually worked his way up to become Chancellor. From there, his popularity and impact skyrocketed.
The Nazis also attempted to form a new state with racial superiority. They wanted to become a dominantly "Aryan" nation, and worked to exterminate other races and members of religions. Anti-semitism was the most prominent of these hatreds, however,
discrimination viciously coursed through the veins of the nation.
Nazi germany was somewhat of a patriarchy in many aspects. Women were exclusively excluded from all political involvement. The Nazi population was also extremely focused on the family and marriage aspects. So, women were extremely limited in opportunities.
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The nation of Italy became a dictatorship after the rise to power of Mussolini. Benito Mussolini was the leader of the Italian Fascist movement. (Could also be referred to as a National Fascist party or a Social Republic)
Italy became a fascist state after Mussolini's rise to power. This transition was similar to Hitler's rise to power. Fascist Italy is often referred to as a "puppet" Nazi Germany. Mussolini used the economic depression as fuel to drive his ideas into the minds of the people. This movement was based on Italian Nationalism and centered around the desire to expand and assert superiority.
Leaders: Lenin and Stalin
In the Bolshevik Revolution, Lenin overthrew the Russian government and implemented Communism. This was a popular choice for the working class.
War Communism: War Communism was the political and economic system of Russia after Lenin took power to combat economic struggles. t used a nationalist approach to ensure the recovery of Russia's economy during economic hardship.
New Economic Policy: This was when Lenin realized that the only way to maintain power was to stray away from Socialist ideals. He increased private ownership of agriculture and business, which are traditionally capitalist policies.
The 5 Years Plan was the plan by Lenin to increase agricultural production through the use of mandatory quotas. These mandatory quotas ensured a surplus of resources to supply the urban cities with resources to industrialize and catch up with the West.
Collectivization forced for people to give up their own private land and instead join a collective, communal farming land. This increased the productivity of the crops and ensured that the governmnet was able to get their quotas for agricultural production
The Great Purge was the trial and execution of former Bolshevik Rebels who had cases fabricated against them in closed door trials, The underlying motivation for these trials was that the people executed likely were either critics or political rivals of Stalin. These people would also be tortured to confess by the Secret Police after gruesome torture methods were used.