Why Was The Wall Street Crash Was A Turning Point In German History
Why Was The Wall Street Crash Was A Turning Point In German History?
The Wall Street Crash was a turning point in German history because of many of the negative factors caused.
Firstly, it had a bad economic impact on Germany because it had resulted in many groups of people to suffer, such as businessmen, young people, farmers, factory workers and this caused many people to lose their job which was terrible because it was also extremely difficult to actually get a job in itself. So difficult that even new university graduates could not get easily employed. By 1932, 40% of all factory workers were unemployed. During this stage, the government had decided to cut the unemployment benefit in order to save money, but all it did was simply worsen things for people. The government had to pay more unemployment benefit, but they just couldn’t afford it. So they chose to increase tax along with the cut of benefits which led on to the economic policies becoming extremely unpopular.
The terrible economic choices were down to the President, who was an old 84 year old man with, surprisingly, no economic experience. The Chancellor had fallen back on article 48 of th Weimar constitution, to try to save the government, which gave the president some advantages. However, as mentioned before, he had no economic experience.
As of the events, the importance of politics grew. This resulted in more people getting involved, desperate for something to be done.
The Wall Street Crash had a multiplier effect on Germany’s future because everything led on to Hitler becoming leader.
The Wall Street Crash was a turning point in German history because of many of the negative factors caused.
Firstly, it had a bad economic impact on Germany because it had resulted in many groups of people to suffer, such as businessmen, young people, farmers, factory workers and this caused many people to lose their job which was terrible because it was also extremely difficult to actually get a job in itself. So difficult that even new university graduates could not get easily employed. By 1932, 40% of all factory workers were unemployed. During this stage, the government had decided to cut the unemployment benefit in order to save money, but all it did was simply worsen things for people. The government had to pay more unemployment benefit, but they just couldn’t afford it. So they chose to increase tax along with the cut of benefits which led on to the economic policies becoming extremely unpopular.
The terrible economic choices were down to the President, who was an old 84 year old man with, surprisingly, no economic experience. The Chancellor had fallen back on article 48 of th Weimar constitution, to try to save the government, which gave the president some advantages. However, as mentioned before, he had no economic experience.
As of the events, the importance of politics grew. This resulted in more people getting involved, desperate for something to be done.
The Wall Street Crash had a multiplier effect on Germany’s future because everything led on to Hitler becoming leader.