What is the impact of great depression on the world
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The world: Try World War II. Do you think Hitler just wanted "Lebensraum"? The War kept everyone busy, expanded their economy and allowed them to consume and acquire other people and assets. They had to keep invading other countries to keep the ball rolling (and no, i'm not a fan of hitler, I am just explaining what happened.)
The US was at 40% industrial capacity before the war and went to almost 100% during it. FDRs new deals were not working in turning the economy around, World War II did.
In the US, the great depression created social security and other welfare programs to help deal with crisis and changed people's expectations that the government would help solve their problems.
The US was at 40% industrial capacity before the war and went to almost 100% during it. FDRs new deals were not working in turning the economy around, World War II did.
In the US, the great depression created social security and other welfare programs to help deal with crisis and changed people's expectations that the government would help solve their problems.
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The Great Depression was a severe worldwide economic depression in the 1930s. The timing of the Great Depression varied across nations, but in most countries it started in 1929 and lasted until the late 1930s. It was the longest, deepest, and most widespread depression of the 20th century.Worldwide GDP fell by 15% from 1929 to 1932. In the 21st century, the Great Depression is
commonly used as an example of how far the world's economy can decline.The depression originated in the United States, after the fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday).The Great Depression had devastating effects in countries rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33%.[5]Cities all around the world were hit hard, especially those dependent onheavy industry. Construction was virtually halted in many countries. Farming communities and rural areas suffered as crop prices fell by approximately 60%. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as mining and logging suffered the most.Some economies started to recover by the mid-1930s. In many countries, the negative effects of the Great Depression lasted until the beginning of World War II.
commonly used as an example of how far the world's economy can decline.The depression originated in the United States, after the fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday).The Great Depression had devastating effects in countries rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33%.[5]Cities all around the world were hit hard, especially those dependent onheavy industry. Construction was virtually halted in many countries. Farming communities and rural areas suffered as crop prices fell by approximately 60%. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as mining and logging suffered the most.Some economies started to recover by the mid-1930s. In many countries, the negative effects of the Great Depression lasted until the beginning of World War II.
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