20th Century Turmoil: Economic Crises, Political Shifts, and Ideologies
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The Great Depression Begins
The 1929 collapse of the New York Stock Exchange triggered the Great Depression. Stock values plummeted 9%, escalating to 17% within a week. Losses reached 40% in a month, leading to 5,000 bank failures over three years. Recovery took over 25 years.
Germany and the Cold War
Post-WWII, Germany became central to the Cold War, symbolized by the Berlin Wall. Despite defeat, West Germany (RFA) achieved remarkable economic recovery by the 1950s, becoming the third-largest economy. Germany initiated reconciliation with France, culminating in the 1963 Treaty of Elysee.
Nazism: Rise in the 1930s
Nazism, a 1920s ideology, gained prominence in the 1930s due to the Treaty of Versailles and the 1929 global crisis. Economic hardship and discontent fueled extremist movements. Germany faced additional burdens from war reparations, leading to widespread unrest.
Stock Market Crash and Aftermath
The 1929 New York Stock Exchange crash, though preceded by economic contraction, caused rapid value loss. Investors lost heavily, triggering a financial crisis. Banks faced solvency issues, eroding depositor confidence. The crisis stemmed from unsustainable stock market gains.
Action Taken
Recovery began mid-1930s, but global impacts persisted until WWII. In Germany, loss of external funding and economic struggles led to the rise of National Socialism.
Populism: Argentina and Brazil
In Argentina, dictatorships often cited populism to justify overthrowing democratic governments post-1912. Postwar, Brazil and Argentina saw the rise of populist leaders: Getúlio Vargas (Brazil, 1946-1954) and Juan Domingo Perón (Argentina, 1946-1955).
Militarism
Political Parties
A political party recruits candidates for government and legislative offices, mobilizing electoral support. They organize legislative efforts, articulate citizen interests, and structure political support for programs and values. Parties aggregate preferences and establish legislative agreements.