Great Depression (13 h 40 min, 29 oct. 1929 ans – 17 h 38 min, 5 févr. 1939 ans)

Description:

Followed by the stock market crash, the Great Depression marks the longest and deepest era of worldwide economic depression in history. Banks crippled in response to the lost of million dollars; businesses went bankrupt, as they lost their capital in a sudden. As a chain effect, around 9 million people who saved their money in the bank lost all their savings, destroying millions of people’s lives. Withdrawing their investments in Europe, Americans also demanded repayment of their oversea loans, effecting world economy. British governors preserved democracy, and the National Government passed protective tariffs while increasing taxes and regulating the currency, establishing a steady recovery. France also preserved democracy, even though the unemployment rate and economic issues remained unsolved for years. Scandinavian countries started recovery programs and remained democracy too. Franklin D. Roosevelt imposed the New Deal, a program reforming American economy, prevented the country from making the same mistakes. Meanwhile, Japan and Germany turned to far-right leaders as they promised recovery. Creating a worldwide political shift, the instability angered the right-wing nationalist, thus becoming a factor leading to World War II.