The two sources selected for research, The Great Depression in Europe by Patricia Clavin and A Concise History of the Third Reich by Benz Wolfgang are used for their origins, purposes, limitations and values. B.) Summary of Evidence The destruction of labor, land and capital during the war caused European products to be less competitive in world markets and made Europe dependent on capital flows from the United States. (Clavin 19) The unproductive deployment of these inflows, most notably in Germany, resulted in the debt crisis that began to boil already in 1927. (Clavin 20) Both the political and social changes were equally important.
Retrieved March 28, 2012, from Investopedia: http://www.investopedia.com/terms/h/hyperinflation.asp#axzz1qOCEr6dd McCallum, A. (1992). Germany 1918-1945 Democracy to Dictatorship. Port Melbourne: Heinemann Education. The Seeds of Evil: The Rise of Hitler.
The Federal Reserve, the central banking system of the United States, was created on December 23, 1913, with the enactment of the Federal Reserve Act, primarily in response to a series of financial panics in 1907. The Fed had being in existence for 15 years before the stock market crush in 1929. It was the most devastating market crush in the history of the United States and signaled the beginning of a decade long Great Depression that affected all Western industrialized countries . The primary responsibility of the Federal Reserve was to act as a “lender of last resort”. Essentially, the Federal Reserve was to lend money to private banks in times of crisis.
On October 29, 1929 marks the official opening of the Great Depression. During 1933, the unemployment rate in United State reached 25%; it was not until the second quarter of 1933 where the US economy started to reclaim. President Franklin D. Roosevelt formed the foundation of the New Deal within the First Hundred Days when he came into power. To determine the New Deal Program’s role during the Great Depression, the sources used in this investigation include: The Great Depression and the New Deal by Robert F. Himmelberg, and Depression Decade: From New Era through New Deal, 1929-1941 by Broadus Mitchell. There will also be a discussion involving World War II’s role in ending the economic crisis.
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Rise of Hitler: Great Depression Begins, (2015). The History Place. [online] Available at: http://www.historyplace.com/worldwar2/riseofhitler/begins.htm [Accessed 14 Aug.
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2014. Web. 27 Mar. 2014 “Adolf Hitler appointed Chancellor.” United States Holocaust Museum. United States Holocaust Museum.