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Navigating the Great Depression: Global Financial Crisis and Recovery Strategies

Explore the impact of the Great Depression on postwar Europe, examining the challenges faced by new democracies, the collapse of financial systems, and the subsequent global economic downturn. Discover how countries like Germany, Britain, France, and the United States implemented various strategies to confront the crisis and pave the way for recovery.

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Navigating the Great Depression: Global Financial Crisis and Recovery Strategies

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  1. The Great Depression

  2. Postwar Europe • Unstable new democracies • Absolute rulers had been overthrown • Too many political parties • Very indecisive • Authoritarian rule was being missed

  3. The Weimar Republic • New German government • Serious weaknesses • No tradition of democracy • Too many parties • Blame for the war and humiliation • Inflation • Didn’t increase taxes during the war • Printed money for debts • Dawes plan lent 200 billion dollars to help slow German inflation

  4. Financial Collapse • Flawed Economy • Overproduction vs. under consumption • Unpaid debts • Stock Market Crash • 1929 October 29, “Black Tuesday” • Investors lost everything • Unemployment rose • 1932, factory production got cut in half

  5. Global Depression • Americans withdrew their money from investments in Europe • High tariffs were placed on imported goods • Everything backfired

  6. Confronting the Crisis • The British • Elected a multiparty coalition “National Government” • Passed high tariffs • Increased taxes • Regulated currency • Slow but steady recovery • The French • More self sufficient than other countries • Heavily agricultural • Was able to preserve democracy even after failed attempts by various coalition groups • Socialist Governments • Cooperative community action • massive public works projects • Raised pensions • Taxed all citizens • United States • New Deal • Public works • Financial help • Welfare and relief programs • Regulations on banking and the stock market

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