What do you mean by great economic depression and what was it effect ? Nazism chapter history class 9 ncert
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The Great Economic Depression of 1929-1934 had a rippling effect all over the world. It aggravated the economic crisis in Germany and nearly crippled German economy.
i. German investments and industrial recovery leading to economic stability between 1924-1928 was built on short term loans largely from USA. This support was withdrawn when the Wall Street Exchange crashed in USA in-1929.
ii. In Germany by 1932 industrial output fell to 40% of the 1929 level.
iii. Workers lost their jobs and were paid reduced wages. Number of unemployed touched an unprecedented 8 million.
iv. As jobs disappeared unemployed youth took to criminal activities.
v. The crisis created deep anxieties among the middle class who feared destitution and proletarianisation.
vi. Large mass of peasantry was affected by a sharp fall in agricultural prices.
vii. Women were severely affected and worried for their hungry children.
viii. It was during this period that Nazi Party which was no more than a conspiratorial group became a mass movement.
ix. The depression contributed to the rise of Hitler and establishment of dictatorship in Germany.
i. German investments and industrial recovery leading to economic stability between 1924-1928 was built on short term loans largely from USA. This support was withdrawn when the Wall Street Exchange crashed in USA in-1929.
ii. In Germany by 1932 industrial output fell to 40% of the 1929 level.
iii. Workers lost their jobs and were paid reduced wages. Number of unemployed touched an unprecedented 8 million.
iv. As jobs disappeared unemployed youth took to criminal activities.
v. The crisis created deep anxieties among the middle class who feared destitution and proletarianisation.
vi. Large mass of peasantry was affected by a sharp fall in agricultural prices.
vii. Women were severely affected and worried for their hungry children.
viii. It was during this period that Nazi Party which was no more than a conspiratorial group became a mass movement.
ix. The depression contributed to the rise of Hitler and establishment of dictatorship in Germany.
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How the economic crisis created deep worried and fear in people
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The Great Economic depression Started when Wall street exchange fell down drastically. This had severe impact of all over the world especially in germany,the Economic status of Gremany crippled Due to following ways-
- Industrial production Decreased to 40% In 1932 in comparison to 1929.
- The Number of Unemployment Increased to 6 million.
- Workers lost their job or worked for very low wages.
- Due to Unemployment,Adults of Germany started playing card and some involved in criminal activities.
- The Economic Crisis created fear and Depression among people.
- Small business man , self-employed,retailers suffered as their businesses got ruined.
- The mass of Peasents suffered due to decrease in Price of agriculture Goods.
The Depression Gave rise to the Major Adolf Hitler which later became the Dictator of Germany.
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