Economy in the Interwar Period

What was the Great Depression?

A global economic crisis that started in the 1920's and continued into the 1930's.

What effect did the new deal have?

Helped improve the lives of people suffering from the events of the depression

What were the negative effects of the five year plan in Russia.

Starvation, Riots, Dissenters being killed and going to prison.

Why did Russia start the 5 year plan?

To industrialized fast to catch up with other European countries.

The 5 year plans mainly wanted to develop what?

Heavy industries, Collectivized farms

What did Germany do to try and pay back war reparations?

They printed too much money.

What did printing too much money in Germany cause

hyper-inflation

Which side benefited economically from WWI?

It negatively impacted both allied and central powers.

How were colonial economies impacted by the Great Depression?

the were dependent on parent economies to provide manufactured goods

John Maynard Keynes believed...

govt should stimulate economy by deficit spending

deficit spending

government spending, in excess of revenue, of funds raised by borrowing

What caused the Great Depression?

stock market crash

Lenins New Economic Policy was unique because--

it allowed for small-scale, private trade for farmers

How did farmers in Russia respond to Stalin's Five Year Plan?

killed livestock and burnt crops

Fascist Italian dictator , Mussolini, implemented govt control over most aspects of the economy similar to--

Brazilian President Vargas