INTERWAR – DEPRESSION AP World History

The Great Depression Aftermath of World War I

Social and Cultural Change (esp. in Europe) Veterans Family Values emphasis to encourage population growth

The Great Depression Aftermath of World War I

Roaring Twenties Social mobility Woman’s Suffrage Conspicuous Consumption

The Great Depression Depression – low production, high unemployment,

high poverty Recession – less severe depression Inflation

The Great Depression The Great Depression

Capitalism failing Longest, deepest, and most widespread depression in

history

The Great Depression Failure of Capitalism

Immense social inequities Boom and Bust cycles 1929 (Stock Market Crash in NYC) spurred the

greatest depression the world had and has yet to see Characteristics

Loss of work Massive unemployment (US and Germany > 30%) Vacant factories, soup kitchens, shantytowns, etc.

The Great Depression- Why? Economy in US “too good”

Overproduction (farms and factories) Income inequality Overspeculation in stock market No government regulation

Globalization meant the Great Depression was felt worldwide Europe indebted to US

Germany and Austria needed loan for reparations Britain and France needed reparations to pay back US

The Great Depression- Effects US response

New Deal European response

“democratic socialism” – Britain, France, Scandinavia Fascism – Nazi Germany, Italy, Spain

No country was entirely successful in ended the Great Depression…but World War II was.

The Great Depression- Response US response

New Deal European response

“democratic socialism” – Britain, France, Scandinavia Fascism – Nazi Germany, Italy, Spain

No country was entirely successful in ended the Great Depression…but World War II was.

The Great Depression- Effects Depression challenged governments of capitalist

countries Communism vs. Capitalism

Soviet Union appeared to be far more economically stable

The Great Depression- Effects The Vicious Cycle

Without money, people stop buying goods… When people stop buying goods, businesses stop

producing more goods When business isn’t producing, they lay off workers Unemployment skyrockets…more people can’t buy

goods…and the cycle continues Many lose everything they own, including homes