Unit 7.4 - Interwar Economy
"Inflation go brrrrrrrrrrrr."
Creation Date:
Publication Date:
Countries
Germany
- Attempted to print lots of money to payback war debts
- Failed and went into ==hyperinflation==
UK & France
- ==Relied on Germany to payback its debts==
- Economy suffered greatly as no longer war material was needed
- Struggled to pay debts to USA
- Colonial problems, not too major currently
-
Latin America
- Due to reliance on colonial powers & economic imperialism, once their economy began to fail so did theirs
Russia / USSR
- ==Had a communist Revolution==
- Refused to pay debts
-
Industrialization & Modernization
- Mixed capitalist polices including free market in an attempt to build economy.
- Lenin Died and was supposed to be replace by Trotsky, instead Stalin Sized Control
- 5-year plan by Stalin
- Industrial Centers
- Collectivization of Agriculture
- Impossible Quotas
- Large Scale Starvation (especially In Ukraine.)
Solution
Every country aside from the USSR decided to rely on the US economy to build their own economy back
Great Depression
Causes
- Same solution of relying on the USA caused this
- USA stock market crashed due to under consumption and overproduction
- Brought all other economies with it
Solution / Fixes
- FDR Elected as president
- New Deal laws established in order to revitalize economy
- Government Deficit
- Ended during WW2 when production ramp up and consumed enough again.
Summary
The government intervened in many economies due to economic depression or chaos.