15.2 Homework Review Postwar World-Wide Depression. In new postwar democracies, there were frequent changes in government. Many citizens of the new democracies had little experience with representative government.
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Some countries had war debts and were dependent on American loans and investments. Worried American bankers demanded repayment for their overseas loans, and American investors withdrew their money from Europe. American market for imported goods dropped sharply. Raising of tariffs led to decrease in world trade and market demand.
FDR believed that government spending would create jobs and start economic recovery. FDR’s New Deal programs created jobs, offered welfare benefits, provided financial aid to businesses and farms, and reformed the stock market and the banking system. The New Deal eventually reformed the American economic system.