Who Was Responsible For The Great Depression Of The 1930s
The Great Depression of the 1930s was a result of World War I. Germany had to pay off war debts to France and Britain, but in the meantime, they borrowed money from the U.S. There was a chain connecting everyone, and when Germany finally failed to pay France and Britain, the chain of money stopped. France and Britain could not pay the U.S. back, and the stock market crash ensued shortly afterwards. Its severity was due to the chain reactions and interlocking of the different countries. Germany was suffering major inflation, and simply could not pay or make up its debt to the other countries. If France and Britain were equally blamed for the war, it may not have happened, because Germany would not be supporting the countries economically.
The National Government took three decisive steps to attack the depression. First, to balance the budget, it raised taxes, cut insurance benefits to the unemployed and the unemployed and the elderly, and lowered government salaries. Its leaders argued that the fall in prices that had …show more content…
Hitler reversed the deflationary policy of the cabinets that had preceded him. He instituted a massive program of public works and spending. Many of these projects related directly or indirectly to rearmament. The government sponsored canal building, land reclamation, and the construction of a large highway system with clear military uses. The government returned some unemployed workers to farms if they had originally come from there. Other laborers were not permitted to change jobs. The Nazi economic experiment proved that by sacrificing all political and civil liberty, destroying a free trade-union movement, preventing the private exercise of capital, and ignoring consumer satisfaction, full employment to prepare for war and aggression could be
The National Government took three decisive steps to attack the depression. First, to balance the budget, it raised taxes, cut insurance benefits to the unemployed and the unemployed and the elderly, and lowered government salaries. Its leaders argued that the fall in prices that had …show more content…
Hitler reversed the deflationary policy of the cabinets that had preceded him. He instituted a massive program of public works and spending. Many of these projects related directly or indirectly to rearmament. The government sponsored canal building, land reclamation, and the construction of a large highway system with clear military uses. The government returned some unemployed workers to farms if they had originally come from there. Other laborers were not permitted to change jobs. The Nazi economic experiment proved that by sacrificing all political and civil liberty, destroying a free trade-union movement, preventing the private exercise of capital, and ignoring consumer satisfaction, full employment to prepare for war and aggression could be