Digital History The Great Depression in Global Perspective - 0 views
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International trade fell 30 percent
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"Beggar-thy-neighbor" trade policies were a major reason why the Depression persisted as long as it did.
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30 million people were unemploye
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One response to the depression was military dictatorship
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collapse in raw material and agricultural commodity prices led to social unrest,
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fascism and militarism
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Hitler outlawed labor unions
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restructured German
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industry into a series of cartels
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massive program of military rearmament
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totalitarian communism.
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Stalin's
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welfare capitalism
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Canada
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Great Britain
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France
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Under welfare capitalism, government assumed ultimate responsibility for promoting a reasonably fair distribution of wealth and power and for providing security against the risks of bankruptcy, unemployment, and destitution.
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the economic decline brought on by the Depression was steeper and more protracted in the United States.
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European countries significantly reduced unemployment by 1936. However, the American jobless rate still exceeded 17 percent as late as 1939, when World War II began in Europe. It did not drop below 14 percent until 1941.
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It produced a major political realignment
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committed, to varying degrees, to interventionist government.
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he Depression strengthened the federal presence in American life, producing such innovations as national old age pensions, unemployment compensation, aid to dependent children, public housing, federally subsidized school lunches, insured bank deposits, the minimum wage, and stock market regulation.
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fundamentally altered labor relations
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national labor policy protective of collective bargaining.
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transformed the farm economy by introducing federal price supports and rural electrification
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fundamental transformation in public attitudes.
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t led Americans to view the federal government as the ultimate protector of public well-being.