The Great Depression (6h 49min, oct 24, 1929 y – 9h 22min, dec 31, 1941 y)
Description:
Loans to Europe end, so there’s increase in unemployment, international trade collapses, industry shrinks and people have less to spend.
Economic Nationalism: Countries try to protect national industries from foreign competition.
USA: Franklin Roosevelt introduced several policies to tackle unemployment.
France: Initially greater economic self-sufficiency protected France but when Germany stopped paying, government income fell, which caused political instability.
Britain: 1939 mobilizes for war, giving boost to the economy.
Added to timeline:
Date:
6h 49min, oct 24, 1929 y
9h 22min, dec 31, 1941 y
~ 12 years