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WW1 1914-1919
This is the first war that involved every single country in the world. It costed the Canadian government 2.5 million dollars a day. Because of this war, Income Tax was created. During this time, factories, stores, cities, and other things were destroyed. -
The Russian Revolution 1917-1989
During World War One, the peasants and working class started to work with a guy named Vladimir Lenin. Together, they fought against Tsar Nicholas II. Russia is known for their vast amount of farms and land space. When Lenin's government took over, he distributed land equally to everyone. This caused many farms to fail, causing countries all around the world to suffer from food loss. -
Treaty of Versailles 1919
The Treaty of Versailles was one of the most important documents ever signed. It eventually lead to the end of World War One. It required Germany to completely disarm, make territorial concessions, and pay countries that were part of the Entente powers. This affected the world economically because the treaty is what started to shift countries to go from mercantilism to Capitalist. -
Stalin 1922-1953
Joseph Stalin was a Soviet politician who was in charge of the Soviet Union from 1922-1953. One of his economic policies was the Five Year Plan, aka industrialization. He concentrated most on creating a huge industry. This had one consequence, a fall in consumer goods across the world. -
The Great Depression 1929-1933
The Great Depression was a worldwide event that originated in the United States. It occured after the massive stock market crash of 1929. The reason is because credit cards came out and everybody was putting everything on credit. When people couldn't pay their money back, they lost everything. This made Wall Street freak out and take out millions of investors. -
Hitler 1936-1945
Adolf HItler was the leader of the Nazi party of Germany from 1936 until he commited suicide in 1945. The main way that he affected the world economy is because he started World War Two. He made it so that Germany didn't trade with anybody or pay their fines from World War One. There was also a thing called Autarky that basically stated that Germany will only buy German goods. -
World War Two 1939-1945
World War Two was the last world war. It started when Hitler invaded Poland. Then, more countries started fighting and eventually in 1941 December 7th, all the countries were involved in this war. This war shifted the global economy because lots of countries had to rebuild after the war. -
Bretton Woods Conference 1944
The Bretton Woods conference was a huge meeting where 44 allied countries agreed on new rules for the modern globalized world. It was basically like a NAFTA conference because they were talking about new trade deals that would change the world. -
International Monetary Fund 1944
The IMF consists of 189 countries. The purpose of the IMF is to monitor the financial and economic situations of all the countries that are in it. It creates economic effects on a global level because it encourages countries to get good economic policies. -
World Bank 1944
The World Bank is an institution that was created after Germany was defeated in WW2. The World Bank is based out of the United States and it's purpose is to give out loans to countries that need it. It affects countries over the world because if their in poverty or a disaster takes place, the bank can give out a loan to help the country get through it. -
General Agreement on Trades and Tariffs 1947
GATT is an agreement between many countries that encourages international trade by eliminating things such as tariffs. -
World Trade Organization 1995
The WTO's purpose is to make sure that trade flows as smooth as possible.
