2.3.1 The Great Depression 1921 Flashcards
What happened in 1929?
Wall Street Crash - the American stock market crashed and the country was plunged into the Great Depression as more and more American banks began to fail
What effect did the Wall Street Crash have on America?
The country was plunged into a great economic depression, where lots of people were unemployed and the value of American assets (things like shares in businesses, houses etc.) dropped massively
How did the Great Depression in America spread to the rest of the world?
Because America had loaned countries across the world lots of money to recover after WW1, American banks demanded the countries pay the money back. This then helped to spread the Great Depression across the world
How did the Great Depression affect the rest of the world?
The Depression brought it vast unemployment, homelessness and starvation on a global scale. In these desperate times people started to lose confidence in their governments and to demand change
How did the Great Depression have an impact on the League?
People turned to extremism and militarism in the hope of rebuilding their countries’ economies, and this meant that these countries were less likely to support the League’s aims of cooperation and peace. For example, Hitler stormed out of the League’s disarmament conference in 1933. Also, as the countries suffered economically, this made them biased when deciding on issues in the League as their first priority is their own country.
Who did people in the countries that were suffering from the Great Depression turn to?
Many turned to extremist parties who promised to end their suffering. These extremist parties included Right Wing and Left Wing groups such as fascists and communists
Why did people turn to dictators such as Hitler?
He had vowed to make Germany great again by invading other countries, which he promised would end the Depression by providing employment in weapons factories and the army
In Japan, who took over the country?
the Army
After the Wall Street Crash, who controlled the USSR?
Stalin
In Italy, who was the dictator?
Mussolini
How did Hitler and Mussolini promise glory for their countries?
By waging war
What were Hitler and Mussolini not afraid of when waging war?
The League’s moral condemnation, and governments could not impose trade sanctions as their economies were also weak due to the Depression, and they could not afford to lose deals
What was one action Hitler and Mussolini could not have ignored when waging war?
Sending in an army
Why was the action of sending in an army not that much of a threat to Hitler and Mussolini when waging war?
The League did not have armed forces of its own and other countries could not afford to lend theirs in this time of Depression
Summarise the Great Depression in 4 points
- In 1929 the stock market in America crashed
- The country was plunged into a great economic depression where they had no money
- Because America had loaned countries money to recover after WW1, they demanded the countries to pay them back
- This then spread the Great Depression across the world
