Britain (11 ноя 1918 г. – 1 сент 1939 г.)

Описание:

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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