The result lead to the rate of the value of Marks against dollar increasing greatly. When the Treaty of Versailles was signed, the allies demanded for 6.6 billion pounds in reparations for the war. The Germans could not possibly paid this and entered into debt. Progressively this lead to hyperinflation and the Germans printed way to many Marks bringing the value down enormously. One dollar equaled 320 Marks in 1922, then falling to 800 marks per dollar!
Before we can explore causes, we first need to define what we mean by The Great Depression The Great Depression was a global economic crisis that may have been triggered by political decisions (war reparations post-World War I), protectionism (Congressional tariffs on European goods) or by speculation .Worldwide, there was increased unemployment, decreased government revenue, a drop in international trade. Its kickoff in the U.S. economy was “Black Thursday," October 24, 1929. That's when 12.9 million shares of stock were sold in one day. It was triple the usual amount. At the height of the Great Depression in 1933, more than a quarter of the US labor force was unemployed.
Obama, who announced this a couple of weeks ago, is in favor of taxing the rich citizens (making over 250,000 dollars a year as a family) a larger percent than the poor and middle class. You may have heard of the Bush Tax Cuts--this is when George Bush reduced taxes on the rich who were paying a larger percent of their money to the government than the poor and middle class. This also goes into the whole socialism aspect that many people have said Obama takes part in. Republicans are called conservatives, and this usually means that they are more for everyone for themselves. Democrats, or liberals, are usually in favor of taxing the poor less, and of healthcare for people who cannot afford it--this is known as Obamacare, which was repealed because it was considered unconstitutional.
Hitler used propaganda, elimination of the opposition, and a cult of personality to gain the support and trust of the German people in a time of economic crisis to his benefit and the rest of the world's loss. Single party states arise from a crisis, and Germany was suffering from a very large one at that time. The end of World War I in 1918 had left the economic state in shambles, and the loss struck the German people hard. Furthermore, the Treaty of Versailles the following year resulted in the demilitarisation and many cuts from German land and territory. Hitler criticized the carving up of Europe by the "Big Four" (the US, UK, France and Italy), stating that the Germans were the "master race".
Globalisation is the breaking down of barriers between countries to form a global community, increasing international impacts on all aspects of life and economic activities. China, being the fastest growing economy in the world for the past two decades, has maintained an average rate of growth in real GDP of 10% per annum. In 1949, after Mao Tse Tung’s force defeated the Nationalists in the civil war, China attempted to modernise agriculture and industry, which failed to raise national output, resulting in the widespread poverty in China. After Mao Tse Tung’s death in 1978, Deng Xiao Ping, his successor, implemented a wide range of radical economic reforms in order to improve China’s economic performance by minimising the gap between china and high income countries. These reforms led to China’s integration into the global economy, which promoted growth and development.
However, the 2009 stimulus bill rescinded these historic reforms with an unprecedented $264 billion increase to carte blanche welfare spending – 32% of the total $816 billion stimulus bill – with the explanation of pre-empting and therefore avoiding widespread unemployment and poverty. If we look at the historical results of the TANF, we see that the old AFDC welfare rolls declined by 60% across the country, as former recipients moved into real jobs and enjoyed an increase in their income[1]. As a result, child poverty levels fell as did federal spending on the AFDC/TANF. It also effectively decreased some suffering and improved self-confidence in those who were able to become contributing members of society. With the new stimulus bill being signed into law, we are once again providing an open line of taxpayer money for welfare dependency, now with fewer questions being asked.
In an attempt to increase their wages, industrial workers went on strike. The Tsar’s indecisiveness, the reality of him continuing the war against Germany although there were many thousands of casualties and the rest of Russia was starving due to the bad transportation systems, and the fact that he had broken his promises from the October Manifesto after the
Explain how using tariffs can show that the Americans had become more isolationist after World War IExplain how using tariffs can show that the Americans had become more isolationist after World War I The importation of goods to America from other countries was changed with increased use of tariffs by the American government. Tariffs are when there is a tax for the importation and exportation. It caused any foreign goods to be more expensive than goods produced in the USA. The Fordney-McCumber Act, passed by congress in 1922, established the largest tariffs in history of the world, with tariffs reaching up to 400% in some areas and having an overall average of 40%. This was to protect infant American industries from cheaper imports, but it also increased revenue to the government.
Consumption skyrocketed as Americans relished in the heyday of western capitalism. The environment that emerged from this climate helped to bring about an “orgy of speculation” sending Americans scrambling for easy profits in the bull market of the 1920s. However through excessive leveraging, borrowing on margin, and a restrictive economic policy, the boom soon turned to bust. The belief that high price levels could be maintained indefinitely was proved drastically wrong in what will forever be remembered as one of the worst economic disasters in the annals of American History. What was set in motion in late October 1929 can be traced back to the brewing market conditions and economic environment of the very decade it which the crash took place.
Another cause of WWII was the Great Depression in the 1930s. In October 1929, the world trade and economy suffered a drastic downfall, as it was published on the U.S Wall Street Journal, leading to bankruptcy, huge retrenchment and unemployment, large debts as well as serious political crises (Ross, 2003). To nurse their own economic, financial and political interests, Britain and the U.S started trading only among themselves and this created an overheated enmity and hatred between them and other states worldwide, especially Germany causing conflicts and fighting in the WWII (The editors of the Legacy Publishers, 2007). WWII was increasingly widespread than WWI which was generally restricted to European countries (Ross, 2003). The WWII, which ran from 1939 to 1945, involved more countries outside Europe such as China, the U.S and Japan among others.