What Is Dorn Brose's A History Of Europe In The Twentieth Century

Good Essays
In Eric Dorn Brose’s writing, A History of Europe in the Twentieth Century, he offers a plethora of information. However, this paper will briefly summarize his section on The Great Depression. Beginning in 1928 and continuing until recovery began around 1933, a socioeconomic catastrophe plagued the World. This huge event stems from the First World War, which took place from 1914 until 1918. Brose provides connections throughout the early 1900’s that consequently affect the economies and societies after the war. The section allows readers to have enough information to have a general understanding of how the depression was caused and its affect on societies and economies at that time. Major elements to which Brose speaks on are the U.S. stock market failure, …show more content…
To begin, Germany’s reparations following the war caused the country to fall into deep debt with no support to rebuild and aid the European economy. Although the Dawes Plan, a plan to help Germany organize its payments, was implemented it did not provide long-term aid. Considering Germany was unable to simultaneously repay their debts and rebuild their economy, their unemployment rates began to grow. Around this time, the U.S. was facing a stock market crash. Many had seen the economy slowing down and decided to pull out by selling their shares. This recession pushed the Unites States to recall their loans. Yet, like Germany, many countries were unable to balance their foreign debts and local economic and societal needs. European manufacturers, struggling to regain themselves, protected diminishing sales by decreasing production and wages as well as firing workers. Moreover, during the war, food production was expanded, however, post-war there were fewer people and thus stockpiles began to increase while prices decreased. In an effort to compensate, farmers increased acreage; yet, this only caused prices to drastically fall. Considering men and

Related Documents

  • Decent Essays

    What caused the crash of the 2008? There are many similarities and differences between the crash of 1929 and the crash of 2008, some similarities make Americans think, why did we let this happen to us, again? The failure of the banking system in the years leading up to 1929, contributed to the crash of 1929 we well as the Great Depression. Consumers were putting purchases on credit and the bank did not receive the money back that they were owed. Banks were down 50% (Brennan).…

    • 1278 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    The lack of employees has produced an initial increase in monetary savings but the prolonged effects of not having adequate employees will yield a large decrease in the revenues over an extended period Fd gqert q4tq gqert notice a lack of employees manning the store. If you have a question about a product good luck trying to hunt someone down to assist you with your inqucdtrt;qwerkqwe’r233343240234l’iry. Often times you will feel as if you are the only one in the store. This is due to the fact that TheStore has trimmed the company employees down below an acceptable level for conducting normal business operations. The lack of employees has produced an initial increase in monetary savings but the prolonged effects of not having adequate employees will yield a large decrease in the revenues over an extended period Fd gqert q4tq gqert notice a lack of employees manning the store.…

    • 52230 Words
    • 209 Pages
    Decent Essays
  • Decent Essays

    After the crash, civilians attempted to withdraw all the money they could, but it was too late; the banks already ran out of money due to their bonds not being paid. Matter of fact, banks were hit so hard the by the time Roosevelt took office, banks were mostly nonfunctional (Agadoni). Investors were hit hard, as well; brokers called in their loans the second the market crashed, so investors had to scramble just to pay off their debts. Their entire life's savings, everything they owned even, were sold off just to pay off their bonds (Amandeo). Thus, there was no more money to put into the economy, as people couldn't afford to buy stocks, goods, cars, etc.…

    • 753 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Alayna Wry English II Ms. Joy 20 October 2016 The Great Depression The world struggled greatly for 10 years from 1929-1939 due to one thing, the Great Depression. The depression left the world in ruins, but also taught America how to handle a national crisis. It tested the strength of people’s mental and physical health. The Great Depression had a lasting impact on the world’s history because it directly affected the economy, the people of all countries, and showed a glimpse into a future American crisis. World War I is one of the possible reasons for the start of the Great Depression.…

    • 1056 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    Hyperinflation In Germany

    • 1298 Words
    • 6 Pages

    On October 29, 1929 there was a wall street crash in the United States that savaged through nearly the entire world’s economy. (source G) Countries had to slow down in the amount of goods imported into the land and famine soon spread around the world. Germany itself depended on loans from the United States and now it had to find a way to survive. With the Great Depression taking course in history, every country had to find money from wherever they could and survive with merely scraps. People lost their hope; suicide and crime rate skyrocketed and the Weimar leaders didn’t know what in the world to do.…

    • 1298 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    Many economists and historians believe the Great Depression was an effect of the crash, but the crash only signaled what was already the start of the Depression. The effects were seen in finances and unemployment, and because the stock market crashed, the economy of America plummeted. Many lost life savings, bankers and brokers had no money to loan so were forced to close, unemployment…

    • 1174 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    Did they have comparable causes and effects? Of course, however it wasn’t ideal that the nation introduced another recession. We can assess that in 1929 and 2007, the Stock Market crashed for similar speculations. Consumer spending and business investment dried up, leaving with less job opportunities. During President Obama 's presidency in the Great Recession, he tried to spring from president Hoover’s and FDR’s presidential policies.…

    • 908 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    It took over two decades, with several smaller recessions in between, to fully impact the economy. On the other hand, it took the Great Depression almost a decade to form (1918 – early 1930’s). Apart from overspending, both events invested in difficult categories. The Great Depression invested in the Stock Market, while the Great Recession (“Consumer Age”) invested in housing (“Great Depression vs. Great Recession”). The Great Depression’s consequences are somewhat like those of the Great Recession’s considering bank failures and unemployment but at a much devastating scale.…

    • 1762 Words
    • 8 Pages
    Decent Essays
  • Decent Essays

    Another major factor of the Great Depression was farming. As farmers were getting paid less, they thought the only way to support themselves and their families would be to produce more goods to sell in order to make more profit. Unfortunately that didn’t work out so well for them. Resulting into angry protests that had no end turning into mobs threatening to withdraw dairy products from farms reaching into cities this strike was known as The Farm Strike.” Also causing a major effect on city people. Whereas farmers had the stability to sustain themselves with the crops they produce on their farm’s like milk, bread, corn, etc also burning corn instead of coal in a way to save money.…

    • 2143 Words
    • 9 Pages
    Decent Essays
  • Decent Essays

    This however was not helpful as it caused other nations to have less money to spend on American goods and led them to in turn increase their taxes and tariffs as well. The American domestic economy was also suffering since the wealth was not distributed evenly and the rich seemed to keep getting richer as the poor suffered in poverty and starvation. People began buying on credit that was offered to keep up consumer demand just as new construction and auto sales decreased and companies began laying off its workers. Unemployed workers cannot pay their bills. As the banks…

    • 390 Words
    • 2 Pages
    Decent Essays