Throughout history, the world economy faced severe ups and downs, taking a tumble in no time; Stock markets were one of the major causes a country’s economy collapsed, but there is no comparison to how severe the Great Depression impacted the world. The Great Depression was a major downfall in the world economy, starting off from the United States, which inevitably spread all over the world during the 1930’s. This was a period of time which caused chaos, demanding world leaders to contemplate different action plans to save their country from devastating outcomes. Each leader took different approaches, based on their political stance. Hitler, Stalin and Roosevelt were three major influencers that helped to fight the Great Depression, and because
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The economy was centralized: small-scale industry and services were nationalized, managers strove to fulfill output quotas, and the trade unions were converted into mechanisms for increasing worker productivity. But because Stalin insisted on unrealistic production targets, serious problems soon arose. With the greatest share of investment put into heavy industry, widespread shortages of consumer goods occurred, and inflation grew.” (Transformation and Terror, US Library of Congress). Although the plan had faced increasing issues, it was overall incredibly hard to implement. This led Stalin to develop the second Five Year Plan, which set more realistic goals for the economy without stressing essential resources. Stalin implemented “Collectivization” by ensuring the farming production was put to an extreme, in order to increase employment, feed those in need, and export goods which were mainly grains abroad”. (Stalin’s Economic Policies, Weebly). Stalin’s reasons for doing this were not only to flourish economy, but to also ensure his political stance as a communist. Collectivization was a foreign concept for many citizens, yet Stalin tried “democratic” techniques to allow his citizens to get used to the idea, but many resisted. Stalin had to ensure that the price of grain was cheap so that workers would …show more content…
Roosevelt was elected by Americans in 1932 because they believed he could combat the Depression more effectively than his Republican opponent, President Herbert Hoover. Roosevelt promised a "new deal" and he certainly delivered. By implementing a variety of innovative policies, FDR was able to pull the United States away from the brink of economic, social, and perhaps even political, disaster—and lay the foundation for future stability and prosperity”. (The Great Depression of the 1930s and Its Origins, Thayer Watkins) The Americans believed that he would be able to take them to a safer economic platform, yet he tried his best, but economic instability proved to be too hard to endure. Roosevelt did so by creating programs such as the “Fair Labour Standards Act of 1938, which helped support citizens endure the damages of the Great Depression by creating minimum wages, a limit to working hours, financial assistances to the poor, the unemployed and the seniors”. (Franklin D. Roosevelt: Impact and Legacy, Miller Centre). This appeared to be a promising plan, but turned out to be unsuitable for the circumstances surrounding it. FDR's New Deal failed to cure completely the Depression-induced ills of the American economy. By 1940, the percentage of Americans without jobs
The economy was centralized: small-scale industry and services were nationalized, managers strove to fulfill output quotas, and the trade unions were converted into mechanisms for increasing worker productivity. But because Stalin insisted on unrealistic production targets, serious problems soon arose. With the greatest share of investment put into heavy industry, widespread shortages of consumer goods occurred, and inflation grew.” (Transformation and Terror, US Library of Congress). Although the plan had faced increasing issues, it was overall incredibly hard to implement. This led Stalin to develop the second Five Year Plan, which set more realistic goals for the economy without stressing essential resources. Stalin implemented “Collectivization” by ensuring the farming production was put to an extreme, in order to increase employment, feed those in need, and export goods which were mainly grains abroad”. (Stalin’s Economic Policies, Weebly). Stalin’s reasons for doing this were not only to flourish economy, but to also ensure his political stance as a communist. Collectivization was a foreign concept for many citizens, yet Stalin tried “democratic” techniques to allow his citizens to get used to the idea, but many resisted. Stalin had to ensure that the price of grain was cheap so that workers would …show more content…
Roosevelt was elected by Americans in 1932 because they believed he could combat the Depression more effectively than his Republican opponent, President Herbert Hoover. Roosevelt promised a "new deal" and he certainly delivered. By implementing a variety of innovative policies, FDR was able to pull the United States away from the brink of economic, social, and perhaps even political, disaster—and lay the foundation for future stability and prosperity”. (The Great Depression of the 1930s and Its Origins, Thayer Watkins) The Americans believed that he would be able to take them to a safer economic platform, yet he tried his best, but economic instability proved to be too hard to endure. Roosevelt did so by creating programs such as the “Fair Labour Standards Act of 1938, which helped support citizens endure the damages of the Great Depression by creating minimum wages, a limit to working hours, financial assistances to the poor, the unemployed and the seniors”. (Franklin D. Roosevelt: Impact and Legacy, Miller Centre). This appeared to be a promising plan, but turned out to be unsuitable for the circumstances surrounding it. FDR's New Deal failed to cure completely the Depression-induced ills of the American economy. By 1940, the percentage of Americans without jobs