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in 1929 the world plunged into an economic depression. This deperession was so severe, and long-lasting it became known as
In the mid-1920s, most of the countries seemed to be on the way to full economic recovery, industrial productivity returned to prewar levels and businesses repaired the damages caused by war. This prosperity was false, for many serious problems remained in the international economy.
Germany & Austria relied on US loans and investment to repay France & Britian, while French and British government depeneded on repayment from Germany & Austria to pay off loans from the US made during the Great War. By summer 1928, US inveters and leaders started withdrawing capital from Europe.
improvements in the industrial soceity reuced worldwide demand for certian raw materials, causing over-production and dropping of prices. Technological advances - including the process of recycling tires for automobiles devastated countries such as Ceylon, Malaysia & the Dutch East Indies, which depended on the export of rubber. the 1920s was also a state of depressed agriculture: the fallling of prices due to overproduction. European farmes resumed their agricultural activity after the Great War - which US, Canadian, Argentinian &Australian farmers expanded production during the European crop decline during the war.
The Great Depression
FDR & the NEW DEAL
by 1933 unemployment in the industrial soceities reached five times higher than 1929 at thirty million. Men and women lost their jobs. Men usually lost their jobs because women were perferred by employers. Women were paid 2/3 - 3/4 the wages of men doing the exact same work. Marriage, childbearing and divorce rates declined; but suicide rates rose.
deflated economies and hope was potrayed through literature. but even the most influential works of literature were not recognized by policymakes until after WWII, by FDR. FDR took agressive steps to fix the economy and ease the suffering caused by the depression. His proposals in his inaugural adress, stated he would deal w/ the national calamity including legislation degisned to provide jobs, prevent the collapse of the banking system & to gaurantee minimum wages, and also social security at old age: called the New Deal
the US federal government bercame justified to protect social and economic welfare of the people - was done by a major shift in the US government and influenced other countries elsewhere to do specific pgroams of the new deal with similar approaches.
