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Economy in the inter-war years, image, image, image, image, image, image,…
Economy in the inter-war years
Recovery in te 1902s
Unites States
Dawes Plan
economic measures
loans
American investment in German industry
increasing German mark value
war reparations payments
revised
reduced
France abandon occupied areas
Ruhr
help European countries
giving them loans
selling lacked consumer goods
roaring twenties
prosperous time
economy
recover
grew steadily.
Germany's economy began to recover.
able to pay reparations
pay back their loans.
Consumerism grew
sales of consumer goods increase
cars
household appliances
forces behind economic recover
car industry
development of electricity production
shares on stock market companies
paid large profits
short period of time
society changed
life focused on enjoyment.
new forms of entertainment
cabarets
music-halls
ballrooms
Hollywood film stars emerged
Charlie Chaplin
Greta Garbo
post-war crisis
characterised by
high levels of debt
loans from USA to pay the cost
food
military equipment
a shortage of products
due to the destruction
factories
transport systems
areas of agricultural land
increase in prices
Germany
severely affected
crisis + pay war reparations
solution
circulated large quantities of bank notes
no gold
hyperinflation
needed large amounts of money
buy basic goods
1923
France wouldn't receive the reparations from Germany
help rebuild its economy
occupy area of Germany (Ruhr)
richest
most industrialised
loss of this territory
industrial production fell
prices rose excessively
suffragist movement
allowed to vote
Germany and Belgium (1919)
Czechoslovakia and USA (1920)
Russia, GB, Poland, the Netherlands and Austria (1918)
women capable of doing man jobs
denied the re-establishment f their traditional role
groups of women were created
demanded the right to vote
protest against gender inequality
fight for women's right to participate
political life
economic life
International Women's Day
Socialist Party, which established
reflection and protest
Wall street crash of 1929
causes
Agricultural overproduction
WW1
during
increased in production
cultivation of more land
mechanisation of agriculture
tractor
threshing machine
after
Europe produce their own agricultural products
surplus of production
prices to fall
American production maintained
factories closing
decrease in agricultural products demand
food
raw materials
farmers were ruined
Industrial overproduction
WW1
after
European industry start recovery
bought less from USA
USA porduced the same
supply > demand
accumulated in warehouses
Companies lost money (close down)
Unemployment rose
less money to buy
consumption decreased
during
American industry increase production
Speculation on stock market +excessive bank credit
period of prosperity
companies /individuals bought companies shares
offered guaranteed profits
Wall Street stock market
how
obtained credit from banks
obtained loans from banks
increasing demand for shares
rise in share prices
stock market speculation
to make quick profits
share value didn't reflect real value of
bankrupt companies
financial crisis.companies
began to have problems
shareholders wanted to sell their shares
24 October 1929
thirteen million shares went up for sale
share value to fall dramatically
due to oversupply
Wall Street Crash
stock market crisis
spread to banks
spread to banks
without liquidity
investros couldn't sell their shares
didn't have money to pay back loans
people withdraw their savings
avoid losing them
banks collapsed
millions citizens were ruined
Great depression of 1930
consequences
Wages fell
unemployment increased
Millions of people live off
charity support
government support.
world economy was affected
USA reduced imports
adopted protectionist measure
to save national production
increasing taxes on foreign products
Companies closed
fall in sales
lack of credit
Banks collapsed
lack of liquidity
decrease in the standard of living
generating discontent
liberal capitalist system
people blamed for the crisis
New Deal
measures
give subsidies to agricultural producers
pay off their loans
carry out public works
= create employment
limit agricultural / industrial production
prevent fall in prices
establish government control for stock market
avoid large scale sale of shares
control of banks to safeguard citizens' saving
establish a minimum wage
+provide unemployment compensation
help alleviate working class misery
disability insurance
old-age
widow's benefits
After 1938
USA economy began to recover
full employment never reached
Governments tried end the crisis
by state intervention
Franklin implemented the New Deal in 1933
economic and social measures
try to stimulate demand
