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The Great Depression - Market opens up for food imports...

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The Great Depression Ideologies promoted free trade were shared throughout world Restricted international trade, impossible to sustain the globalized economy Causes of the Great Depression Soviet Union was the only area that did not have an economic collapse because it was isolated Versailles Peace Treaty- German reparations Collapse of agricultural economy in U.S. Abuses and criminal activity caused by ineffective economic regulation U.S. economy was central to this global economic collapse Role of the U.S. economy in the causing the Great Depression Major banking center of the World, Demanded money back quickly, due to policy (not a wise policy) More flexibility should have been a policy German Reparations payments Cripple german economy, keep them from recovering from war too quickly and keep their economy under control so they don’t get rich and become a threat Ponzi scheme- make someone invest in something and the investor will never get the money back Post-WW.1 U.S. agricultural slump
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Unformatted text preview: Market opens up for food imports, accelerates modernization in agricultural Rate of personal income has not been keeping up with services and goods Relies upon the continuing expansion of economy and increase in income Effects the ability of consumers to keep making money over time Encouraged to invest their money in very risky schemes Rather than investing money in tangible items Investing in stock market, inflate stock prices, make large amounts of money very quickly Did not gain any long term social benefits Lack of effective regulation Lying about how well a company is doing to steal money from investors Much of their stock had been bought with borrowed money People unable to pay back loans to bank, banks go bankrupt Responses to the Great Depression Currency based on the current value of gold Able to spread around the globe since all currency was interconnected Stabilize the economic situation as well as the political situation...
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