HISTORY 40C Lecture 8: Lecture 8
8 Jun 2016
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The us did not coordinate policy with other governments internationally. Banking crisis in europe and economic crisis in us became a full blown economic depression. Hoover signed the protectionist smoot hawley tariff (1930) that aimed at curtailing foreign imports. Roosevelt refused to cooperate with an international conference designed to coordinate a response to the global depression. Because of this understanding of history, we have avoided another. Both bush and obama pursued economic coordination quickly to save banks and prevent global banking crisis. Pledged to each other not to engage in competitive rounds of protectionist. The economic crisis of the 30s led to the political crisis associated with. Wwii germans leached out to hitler who promised through territorial expansion to restore prosperity and jobs to the country (his huge military buildup restored these jobs). Gross national product (gnp) dropped from . 1 billion to billion in 1932. New deal changed the role of the national government.
