The Great Depression and the Rise of Dictatorships
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The Great Depression and its Impact
The Great Depression significantly affected industrialized countries, particularly Great Britain, Austria, and Germany in Europe. Countries and colonies exporting raw materials also suffered as industrial nations, facing reduced purchasing power, drastically cut imports. Various solutions, generally based on economic nationalism and state intervention, were implemented.
The New Deal in the United States
In 1933, US President Roosevelt introduced the "New Deal," a plan to revive the economy through state intervention. This involved promoting public works, subsidizing firms, controlling banking, and expanding social welfare.
Great Britain's Response
In contrast, Great Britain limited its intervention to devaluing... Continue reading "The Great Depression and the Rise of Dictatorships" »