The great depression

The depression

• The war left every major European country nearly bankrupt.
• Europe’s domination declined after the war.
• 1914-1918 Europe’s last absolute rulers were overthrown. 
• New government was formed in Russia in 1917 (the first was Provisional).

Unstable democracies

• New government was formed in Russia in 1917 (the first was Provisional).
• Shortly after, it was a communist dictatorship.
• Most European nations had democratic governments.
• Coalition government was needed to form a parliamentary majority.
• There were frequent changes in government. 

Weimar republic

• Named after the city where the national assembly met.
• Germany faced big economic problems.
• Money lost it's value, inflation sets it.
• Germany recovers from inflation in 1929
• France&Germany signed treaty to never have war(1923).

Financial collapse

• American factories turn out half industrial goods.
• 33% of pop. recieves 33 percent of personal income(1929).
• 60% of american families earn less than $2000 a year.
•  October 29, 1929 stock crashes.

great depression

• Long business slumps.
• Industrial production, prices and wages declined.
• Unemployment rates rise(1000 Americans lost jobs).
• 9000000 people lost their savings.
• Thousands of businesses failed.

world confronts crisis

• Democracies get political&economical systems.
• Hits Britain severely.
• National government. 
• 1937 unemployment cut in half.
• Production rose above 1929 levels.

france responds to economic crisis

• More self-sufficient economy.
• 1933-heavy agriculture&little foreign trade.
• 1935- 1,000,000 unemployed.
• 1933- 5 coalition gov. formed& fell.
• 1936- coalition was formed.

Socialist Governments Find Solutions

• Scandinavian countries meet economic success.
• Raise pensions for elderly & increase welfare.
• Governments taxed all citizens.
• Democracy remained.

recovery in u.s.a.

• Franklin D. Roosevelt was the first president.
• Program of Gov. reform (New Deal).
• Regulations reformed stock market&banking systems.
• Roosevelt was established as democracy.