1930s Economic Recovery: Contrasting European Strategies
Economic Recovery in Scandinavian Nations
The economic recovery in Sweden and Denmark was notably faster than in other countries. The key element was assigning the state budget an active, anti-crisis role in combating the economic downturn. When private investment from entrepreneurs decreased, leading to unemployment, the state increased its own investment to compensate for this effect.
The implementation of these programs was decisively influenced by social democratic parties, which were already promoting measures to improve conditions for workers. These parties were instrumental in approving plans to aid the unemployed.
International and British Responses
Beginning in 1932, the governments of the United States, France, and Britain struggled to...