What does the great economic depression of 1929 signify ?
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Great depression of 1929 had profound impact on most of the economies of the world.
Due to economic slump the Dand for raw materials reduced.
The price of coffee, cotton, rubber, tin, and other commodities dropped 40 percent. The collapse in raw material and agricultural commodity prices led to social unrest, resulting in the rise of military dictatorships that promised to maintain order.
A second response to the Depression was fascism and militarism--a response found in Germany, Italy, and Japan. In Germany, Adolph Hitler and his Nazi Party promised to restore the country's economy and to rebuild its military.
A third response to the Depression was totalitarian communism. In the Soviet Union, the Great Depression helped solidify Joseph Stalin's grip on power. In 1928, Stalin instituted a planned economy
A final response to the Depression was welfare capitalism, which could be found in countries including Canada, Great Britain, and France. Under welfare capitalism, government assumed ultimate responsibility for promoting a reasonably fair distribution of wealth and power
The capitalist countries took lesson from the depression and started on investing in the interest of public welfare in public enterprises.
Due to economic slump the Dand for raw materials reduced.
The price of coffee, cotton, rubber, tin, and other commodities dropped 40 percent. The collapse in raw material and agricultural commodity prices led to social unrest, resulting in the rise of military dictatorships that promised to maintain order.
A second response to the Depression was fascism and militarism--a response found in Germany, Italy, and Japan. In Germany, Adolph Hitler and his Nazi Party promised to restore the country's economy and to rebuild its military.
A third response to the Depression was totalitarian communism. In the Soviet Union, the Great Depression helped solidify Joseph Stalin's grip on power. In 1928, Stalin instituted a planned economy
A final response to the Depression was welfare capitalism, which could be found in countries including Canada, Great Britain, and France. Under welfare capitalism, government assumed ultimate responsibility for promoting a reasonably fair distribution of wealth and power
The capitalist countries took lesson from the depression and started on investing in the interest of public welfare in public enterprises.
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