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Class 7 - Great Depression and Facism.docx

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HIST 1707
S Lipsett- Rivera

1929 was the start of the Great Depression1922 was the first fascist government Mussolini took power in Italy Government calls itself fascists not just something we saySocial and economic conditions of the Depression gave a real kick and stimulated movements of fascism The Great DepressionFirst World War was known as the Great War Depression wasnt confined to anywhere was spread around the world because of globalization and because of interlocked economies thBlack Tuesday October 29 maybe 1929 was when the stock market crashed Not right but a handy starting point Stock market began to lose value rapidly and afterwards billions of dollars were wiped off the value of the NY stock exchange Huge effect on US economy and then other economies After WWI many European economies were in tatters populations were damaged As a result of WWI USA economic prominence was evident When American economy went down it had a ripple effect in Europe Businesses failed people thrown out of work unemployment rises and Americans begin to stop importing from other countries Productivity fell in European countries as Americans imported less and people in Europe thrown out of work By early 1930s world trade and productivity were downBy 193032 whole world was suffering from an economic depressionRise of the welfare state made the recession not as bad today as the depression was
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