HIST 103 Lecture Notes - Lecture 14: Reverberation, Anti-Imperialism
Document Summary
Economic legacies of world war one : european debt and currency inflation; and overproduction. The wall street crash of october 29, 1929. First major recession after world war two was in 1972. Roaring 20"s lots of prosperity; 1930"s depression. Recession is negative growth in 2 quarters (8 months); temporary downfall but regular ups and downs. Depression is when all those factors stay down for a long time. Closely linked to impacts of world war one. Crash of wall street in october 29, 1929 and 2. The soviet union was the only country not affected by the great depression. Not quiet clear what caused crash and slump and whether they are related. Some believe caused by a combo of both these things. Linked to world war one in 2 ways 1. European governments borrowed heavily from us; had large pools of capital. Meant government in europe had large debts after war.
