The Great Depression (29 oct 1929 año – 29 oct 1939 año)

Descripción:

After the stock market crashed on October 24th, people could not pay money to the bank, so the bank also could not give people back the money they put in the bank, leading to a lot of banks closing during the depression. The people stopped buying goods because they did not have enough money, which led to inflation in the U.S. Unemployment rose, leading to more people buying fewer goods, making the inflation more and more serious, so the U.S. economy collapsed. The economic collapse in the U.S. became a world-wide depression because the U.S. put high tariffs on imported goods, which was a bad idea and the economies of different countries suffered greatly because many countries import many goods to the U.S. The Great Depression affected countries such as Germany and Austria seriously.
The Great Depression was important because it led to the rise of fascism in Europe. People suffered greatly during the depression, causing them to lose faith in democratic governments because their governments failed to keep the economy working. During this time, people turned to fascism for a government because the fascists made many promises to the people that they would make their country prosperous again. Germany and Italy were among the countries which turned into a fascist government during the depression. Both the Germans and the Italians were disappointed in their democratic governments due to what happened during World War I and the problems in the depression. If the Great Depression did not happen, then both countries' governments may have worked their problems out slowly, meaning there might not be a rise of fascism in these countries, which would not lead to World War II later.

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