Mod 21 Lesson 2 Flashcards
What was the impact of WW1 on the economies of involved countries?
Almost every country involved was left bankrupt
This financial strain influenced the political landscape in the years following the war.
What type of government did most nations have after WW1?
Democratic government
However, internal disagreements among parties were common.
What was the purpose of forming coalitions among political parties after WW1?
To reach a majority
These alliances were often temporary and did not last long.
What led to the people’s desperation for strong leadership in post-WW1 Germany?
Changes in government made it difficult to develop
This environment fostered instability and uncertainty.
What was the name of Germany’s new democratic government after WW1?
Weimar Republic
This government faced numerous challenges that led to its failure.
What were the three main reasons for the failure of the Weimar Republic?
- Lacked strong democratic tradition
- Had too many political parties
- People blamed the government for the Versailles Treaty
What economic policy did Germany adopt to pay its debts after WW1?
Printed more money
This led to hyperinflation, severely devaluing the currency.
Who created the Dawes Plan and what was its purpose?
Charles Dawes; to loan money to Germany and help slow inflation
The plan aimed to stabilize the German economy.
What significant treaty did France and Germany sign in 1925?
A treaty to not go to war against each other
This treaty was a step towards reconciliation and was part of the League of Nations.
What happened in 1928 regarding international agreements?
A number of countries signed an agreement to not go to war anymore
However, this agreement did not last.
What were the three main reasons for the collapse of the U.S. economy?
- Uneven distribution of wealth
- Overproduction
- Americans were buying less
What significant event occurred on October 29, 1929?
The stock market collapsed
This marked the beginning of the Great Depression.
What were the consequences of the Great Depression in the U.S. by 1932?
- Production had been cut in half
- 9 million people lost money in savings accounts
- Farmers lost land due to unpaid mortgages
What foreign policy did the U.S. adopt during the Great Depression?
Isolationism
The U.S. turned inward and focused on domestic issues.
How did the Great Depression affect global trade?
Tariffs increased and world trade dropped by 65%
This had worldwide implications for economies.
What happened to Austria’s largest bank in 1931?
It failed
This was indicative of the financial instability in Europe during the Great Depression.
How did Britain respond to the Great Depression?
Successfully cut unemployment in half by 1937
This helped preserve democracy and avoid political extremes.
What was the situation in France regarding unemployment during the Great Depression?
By 1935, one million workers were unemployed
Five governments failed, but democracy was preserved through the formation of the Popular Front.
Who came into U.S. office in 1932?
Franklin D. Roosevelt
He implemented policies to address the economic crisis.
What economic theory did John Maynard Keynes create?
Keynesian Economics
This theory was adopted by FDR to combat the Great Depression.
