What were the main impact of great depression? (1st world war).
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The war also had major consequences for the European socialist and labour movement. Although well organised in many countries, including Britain, France and Germany, the socialist movement failed to stop the war in 1914.
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1) overproduction led to the American Economic Depression of 1929 and the collapse of American stock market. This resulted in large scale unemployment.
2) As the European company was dependent on America the depression spread and affected the capitalist country by 1931.
3) by 1932 there were more than 30 million workers unemployed and starving in European countries.
2) As the European company was dependent on America the depression spread and affected the capitalist country by 1931.
3) by 1932 there were more than 30 million workers unemployed and starving in European countries.
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