Chapter VIII: America Compared Readings (Week 4)

294 views
242 views

Published on

Personal analysis of the most important themes for the set of readings from week 4

Published in: News & Politics
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
294
On SlideShare
0
From Embeds
0
Number of Embeds
14
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Chapter VIII: America Compared Readings (Week 4)

  1. 1. The Great Depression<br />
  2. 2. EconomicBreakdown<br />After the First World War, the largest global economic breakdown in history had occurred. <br />In Germany the early 1920s a great inflation and devaluation of currency occurred, and private savings disappeared which created a vacuum of working capital for business.  <br />NYSE crash of 1929 amounted to the collapse of the capitalist world economy.<br />
  3. 3. Imbalance<br />It could be said that the economic breakdown was caused by a profound imbalance in the international economy, an asymmetry between the U.S.A. and the rest of the world. <br />This didn&apos;t work because unlike Great Britain who&apos;d been the power before 1914, the USA didn&apos;t really need the rest of the world and after WWI, we didn&apos;t need to import much of anything.<br />After WWII, we decided to take a much larger role in the stabilization of the world economy. <br />

×