Britain (nov 11, 1918 – sep 1, 1939)

Description:

Result of WWI

- English fleet destroyed (Navy & merchant)
- old industrial infrastructure
- heavy borrowing in billions (borrowed the most from the US)

which CAUSES economic problems


Economic & political problems CAUSE
- election of a Labour (socialist) government
- rise of British Fascist party (Oswald Mosley)
- abdication of King Edward VIII (pro-Nazi)

However, thanks to a competent government that lowered interest rates to encourage industrial growth, democracy is preserved


GREAT DEPRESSION: Britain responds in a democratic way

- lower interest rates ---> encourage new industrial growth
- rejected radicals & communists

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