Key Events Shaping 20th Century European History

Historical Context and Major Shifts

Pre-Revolutionary Russia

• Autocratic Government: The Tsar possessed unlimited power and authority before the revolution.
• Semi-Feudal Economy: Land ownership was concentrated among a wealthy minority, while the peasant majority worked the land.
• Social Unrest: Three-quarters of the population were peasants living in poverty and paying taxes. Factory workers endured low wages and long working days.

Bloody Sunday

A protest demanding improvements in working conditions and political reforms was brutally suppressed.

The Soviet Union (USSR)

• Political power was held by the Soviets.
• The Communist Party was the sole political party.
• The state controlled important economic sectors.
• It was established as a federal state.

New Economic Policy (NEP)

Established by Lenin, this policy allowed limited capitalist elements to exist to increase production.

Post-War Economic Crisis

• High Levels of Debt: Resulting from loans from the USA used to cover war costs, such as food.
• Shortage of Products: Caused by the destruction of agricultural land and factories, leading to increased prices.

German Hyperinflation

Germany circulated massive quantities of banknotes that held no value because they were not backed by gold.

The Great Depression

It began with the Wall Street Crash and lasted for a decade. This economic crisis caused a fall in prices and marked the end of the Roaring Twenties.

Causes of the Wall Street Crash

• Industrial Overproduction: American industry increased production to supply Europe, resulting in available products exceeding sales.
• Agricultural Overproduction: American agricultural output rose during the war. After the war, Europe began producing its own goods, but American production was maintained, causing a surplus and falling prices.
• Speculation on the Stock Market and Excessive Bank Credit.

Totalitarian Systems

• Stalinism: The system of totalitarian government established in the USSR after Lenin's death.
• Fascism: An authoritarian government led by Mussolini (Blackshirts).
• Nazism: A dictatorship established by Hitler in Germany.