The Role Of The Great Depression In America

The Great Depression was a severe stock market crash that happened in the 1930s. In the late 1920s, economic grew rapidly and many classes poured their savings into stocks. Investors traded useless shares that were deemed worthless, over millions in one day, later to be referred as, “Black Thursday.” An outbreak flooded the nation, causing workers to lose their jobs and decrease mass production. Across the world, everyone felt the the devastating blow, creating a domino effect. ( History.com ) The United States had close relations to nearby countries, especially Europe. So when America has the great depression, Europe unfortunately suffered their own downfall. Some European countries were hit really hard, like Germany, while others didn’t suffer
Economy didn’t experience noticeable decrease until 1930-1931 and the deepest fall was reached in 1933. Then problem with Great Depression in Europe was bigger when the problem between France and Germany arose in 1932. To stop economic union between Germany and Austria, France undermined Austrian banking, which led to a banking crisis hitting all of Central Europe. France, Czechoslovakia, UK, and Poland was hit with less of the depression with their unemployment had not yet reached over 13% there. The trade rivalries and tariffs had created bad blood among unions, but also forced countries to seek open economic policy with Germany. Overall, the Great Depression weakened political system across Europe causing trouble throughout, discredited liberal and democratic ideas, and undermined cooperation set up in Versailles. However, the world war soon had erased much of the suffering of the Great Depression from European collective history, and it is seldom