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,
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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
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