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The march toward war

While the United States focused on domestic issues, economic depression and political instability were growing in Europe. During the 1920s, the international financial system was propped up largely by American loans to foreign countries. The crash of 1929, when the U.S. stock market plummeted and American capital dried up, set in motion a series of financial chain reactions that contributed significantly to a global downward economic spiral. Around the world, industrialized economies faced significant problems of economic depression and worker unemployment.

Totalitarianism in europe

Many European countries had been suffering even before the Great Depression began. A postwar recession and the continuation of wartime inflation had hurt many economies, as did a decrease in agricultural prices, which made it harder for farmers to buy manufactured goods or pay off loans to banks. In such an unstable environment, Benito Mussolini capitalized on the frustrations of the Italian people who felt betrayed by the Versailles Treaty. In 1919, Mussolini created the Fasci Italiani di Combattimento (Italian Combat Squadron). The organization’s main tenets of Fascism    called for a totalitarian form of government and a heightened focus on national unity, militarism, social Darwinism, and loyalty to the state. With the support of major Italian industrialists and the king, who saw Fascism as a bulwark against growing Socialist and Communist movements, Mussolini became prime minister in 1922. Between 1925 and 1927, Mussolini transformed the nation into a single party state and removed all restraints on his power.

In Germany, a similar pattern led to the rise of the totalitarian National Socialist Party. Political fragmentation through the 1920s accentuated the severe economic problems facing the country. As a result, the German Communist Party began to grow in strength, frightening many wealthy and middle-class Germans. In addition, the terms of the Treaty of Versailles had given rise to a deep-seated resentment of the victorious Allies. It was in such an environment that Adolf Hitler’s anti-Communist National Socialist Party—the Nazis—was born.

The Nazis gained numerous followers during the Great Depression, which hurt Germany tremendously, plunging it further into economic crisis. By 1932, nearly 30 percent of the German labor force was unemployed. Not surprisingly, the political mood was angry and sullen. Hitler, a World War I veteran, promised to return Germany to greatness. By the beginning of 1933, the Nazis had become the largest party in the German legislature. Germany’s president, Paul von Hindenburg, at the urging of large industrialists who feared a Communist uprising, appointed Hitler to the position of chancellor in January 1933. In the elections that took place in early March 1933, the Nazis gained the political power to pass the Enabling Act later that same month, which gave Hitler the power to make all laws for the next four years. Hitler thus effectively became the dictator of Germany and remained so long after the four-year term passed. Like Italy, Germany had become a one-party totalitarian state ( [link] ). Nazi Germany was an anti-Semitic nation, and in 1935, the Nuremberg Laws deprived Jews, whom Hitler blamed for Germany’s downfall, of German citizenship and the rights thereof.

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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