ASSESS THE SIGNIFICANCE OF |THE GREAT DEPRESSION FOR GERMANY
The Great Depression was an extensive crisis that began in the American Stock Exchange Crash of October 1929 when the New York Stock Exchange was hit with its worst fall in share prices to date and lasted until around 1932 . The crisis spread all around the world because the bankrupt American banks stopped lending money to the other nations of the world and called in their previous loans. This in turn was extremely significant to all aspects of a newly recovering Germany in terms of its width, depth and nature of significance. It also had impacts on the building blocks of Germany in terms of Economy, the Social status of people and the International Relations between Germany
The Great Depression allowed a whole nation to be drawn in by campaigns based only on “Sarcasm and insinuation aimed directly at the Jews and the Communist Party” and campaigns that were adapted to different groups of people. The current Weimar government was also slated by the Nazi Party for “allowing this Economic Storm to take hold of the country” even know it was really beyond their power to do anything about it.
The fact that the Great Depression was such a turning point that it brought the almost stable Weimar Republic crashing down and the rise of the Nazi Party shows us that it was a very significant event. Moreover, the Great Depression also had a lot of drastic Political, Economic and Social Impacts on Germany. However, even though the Depression was responsible for both Political and Economic problems in Germany, it was really the way that these problems it had an impact on the people of Germany that made it so
Even compared to the bad situation beforehand, it was clear that Germany changed dramatically during the years of the Great Depression. This result of a change also had long term consequences for the future in terms of the rise of extremist Nazi Party and can even be said to be one of the underlying causes of the beginning of the Second World War. Most importantly, it was a fuel that fed the Nazi fire for the next decade which in turn brought huge negativity to Germany in the
The Great Depression had a big impact on both the United States and Germany. Both countries were in a state of panic, a state of desperation, and a state of distraught. Not knowing what to do, the people of both countries needed a leader that would step up to absolve them of all of their fears and regain order to life. The United States’ leader Franklin Delano Roosevelt led the country in connection to his people and led them to strength and prosperity through the depression and through war. Germany's leader Adolf Hitler took advantage of his people's desperation and led them in a revolution that would kill millions of people and although having power for a fair amount of time, he would lead his people to their even more increased downfall and broken down economic
1.The great depression was a time between late 1929 to 1939 and was completely ended during World War Two. It started with a series of events, most famously the Wall Street stock market crash, that induce poverty on the American citizens. It caused the downfall of the US economy.
The Great Depression was one of the most important historical events that has happened within the last century that impacted every Americans life one way or another. There were many factors that could be an explanation of why The Great Depression happened, but there is no one definitive list of the reasons of what caused The Great Depression. It was a mixture of events in the United States and outside of it that probably led to this period of time to happen. The main reason that everyone could agree on was the event of the Wall Street Crash of 1929. Because of The Crash, it made people go on a bank run which made thousands of banks to close because they simply did not have all the money for all the people wanting to withdraw their savings. Because everyone was trying to take their savings out, most people were turned down by the bank and essentially lost of their savings in the bank. The banks were failing and because they had no more money left, this stopped the banks from having available credit for people to use which made matters even worse for the people. This leads people to poverty and were left with nothing. Because people were poor and were scared of spending their money now, it made people stop buying extra things that weren't essential to live. This was the cause of the unemployment rates during this time period because if no one was buying anything, then there was no reason to keep extra workers for things people are not buying.
The Effect of the Great Depression on Hitler's Power There is no simple answer as to why Hitler became chancellor in January 1933. There are a number of causal factors which all contributed to his rise into power. Any of the factors, on its own, however, would not have resulted in his appointment. They are all linked in a web of causation and if any of the factors were missing, Hitler would not have been appointed chancellor. Of the factors I would say that the Great Depression was the most important.
The Great Depression of 1929 effected not only the United States but foreign countries as well. It occurred because of the stock market crash and a drop in global trade, due to high taxes. From there on, there were programs put in place to help with the growth of the economy to come.
The Great Depression was in no way the only depression the country has ever seen, but it was one of the worst economic downfalls in the United States. As for North America and the United States, the Great Depression was the worst it had ever seen. In addition to North America, the Depression greatly affected Europe and other various countries throughout the world significantly during the 1920’s and 1930’s. The Great Depression was caused by the collapse of the Stock Market, which happened in October of 1929. The crash exhausted about forty percent of the paper values of common stocks. It was the worst depression due to the fact that at the time of the Great Depression the government involvement in the economy was higher than it had ever been. A unique government agency had been set up exclusively to prevent depressions and their related troubles for instance bank panics. All of ...
Great Depression was one of the most severe economic situation the world had ever seen. It all started during late 1929 and lasted till 1939. Although, the origin of depression was United Sattes but with US Economy being highly correlated with global economy, the ill efffects were seen in the whole world with high unemployment, low production and deflation. Overall it was the most severe depression ever faced by western industrialized world. Stock Market Crashes, Bank Failures and a lot more, left the governments ineffective and this lead the global economy to what we call today- ‘’Great Depression’’.(Rockoff). As for the cause and what lead to Great Depression, the issue is still in debate among eminent economists, but the crux provides evidence that the worst ever depression ever expereinced by Global Economy stemed from multiple causes which are as follows:
The main reason was that people were discomposed that Germany had lost a war and most of the people blame for the defeat. On the other hand, during 1929-1933, the worldwide Great Depression, which impacted Germany, and there was no leader of Weimar could solve the economic problem.
The Great Depression was one of the greatest challenges that the United States faced during the twentieth century. It sidelined not only the economy of America, but also that of the entire world. The Depression was unlike anything that had been seen before. It was more prolonged and influential than any economic downturn in the history of the United States. The Depression struck fear in the government and the American people because it was so different.
The Great Depression was the biggest and longest lasting economic crisis in U.S history. The Great depression hit the united states on October 29, 1929 When the stock market crashed. During 1929, everyone was putting in mass amounts of their income into the stock market. For every ten dollars made, Four dollars was invested into the stock market, thats forty percent of the individual's income (American Experience).
Hitler was able to rise to power because of desperation and a desire for change among the German people. The Great Depression began in the United States in
...After we consider all these points mentioned we begin to see how everything worked and connected to form one huge disaster for Germany. We start to see how all these things played a part, the reparations led to unemployment that led to no money that led to overprinting of money. How the huge consequence of the reparations led to the unsuccessful paying of it leading to the French invasion of the Ruhr which led to strikes and therefore no products to trade with. How the unstable Weimar government led to extremist parties that damaged the economy further and brought inflation to its highest. The effects were probably the worst, the starvation coupled with the disease epidemic that killed people off and the worthless tonnes of paper notes roaming around the nation. It all in all was a very bad time in Germany one that they always found it hard to recover from.
The great depression led us to have a better economic system and changed economic thinking. Laws were passed in order to prevent another depression from happening. Although many years have passed since the great Depression, things that were seen back then are still being seen today in 2014. High unemployment rates and low income among families forced to need the help of welfare are seen today as they were seen during the time of the Great Depression. The contrast between now and then however, is that the economy is under more control due to the laws that were passed to prevent another depression.
The Great Depression was a period of first-time decline in economic movement. It occurred between the years 1929 and 1939. It was the worst and longest economic breakdown in history. The Wall Street stock market crash started the Great Depression; it had terrible effects on the country (United States of America). When the stock market started failing many factories closed production of all types of good. Businesses and banks started closing down and farmers fell into bankruptcy. Many people lost everything, their jobs, their savings, and homes. More than thirteen million people were unemployed.
The Wall Street Crash and The Great Depression When the stock market collapsed on Wall Street on Tuesday, October 29, 1929, it sent financial markets worldwide into a tailspin with disastrous effects of the sand. The German economy was especially vulnerable since It was built out of foreign capital, mostly loans from America and was dependent on foreign trade. When those loans suddenly came due and when the world market for German exports dried up, the well oiled German industrial machinery quickly ground to a halt. As production levels fell, German workers were laid off. Along with this, banks failed throughout Germany.