Presentation on theme: "INTERWAR – DEPRESSION AP World History. The Great Depression Aftermath of World War I Social and Cultural Change (esp. in Europe) Veterans Family."— Presentation transcript:
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