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Hitler
Appointed chancellor of Germany in 1933 followed by the rule of the Nazi party. He committed suicide in 1945 along with his wife. He brought Germany out of the depression through forced labor and also set up social programs. His party aimed the killing Jews because they were mostly the ones in charge of the banking system and making people think the same. -
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WW1
The assassination of Archduke Franz Ferdinand of Austria. His murder catapulted into a war across Europe that lasted until 1918. The estimated total cost of World War I to the United States at approximately $32 billion, or 52% of the gross national product. This led to the roaring twenties with the economic boom. The downside prices came 6 months later. Stock prices crashed, industrial depression and factory employment dropped by 30%. -
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The Rise of Communism
Occurred during the Russian revolution. Industrialism was set back and laborers struggled to provide for themselves. The military was not receiving basic needs and faced shortages. Class distinctions were removed. Communism is the total control of the government. Setting the stage for the rise of the soviet union was the universal power that faced the US during the cold war. -
Treaty of Versailles
Forced Germany and other central powers to take all blame for the war. Germany was forced to repay by giving Congo to Belgium. This led to the rise of Hitler. Demands financial restitution for the whole thing, to the tune of 132 billion gold marks, or about $269 billion today. -
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Stalin
Joseph Vissarionovich Stalin was a Politician that led the Soviet Union from 1924-1953. Welfare loss of 24% percent of consumption in 1928-1940. A 16% percent welfare gain after 1941. Policies allowed Russia to develop a robust modern economy. Ownership in the means of production, collective farming, and industrial manufacturing. -
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The Great Depression
It began during the stock market crash of October 1929, when people were given credit cards for financial use. They were misused and many companies and homes were sold. Some people even sold their children. Consumer spending decreased rapidly causing declines in output and employment fails. -
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WW2
It started due to Hitler's invasion of Poland. It involved a vast majority of the world including all 'superpowers'. The gross national product of the US was measured as $88,6 billion dollars. The country was suffering from a depression of $135 billion. The war brought full employment and a fairer distribution of income. Racial and Sexual discrimination entered the workforce. wages increased along with savings. -
Bretton Woods Conference
A gathering of 730 delegates from 44 allied nations was hosted at Mount Washington Hotel. Post-war Western economic order was resolved with agreements, a parliament on monetary order, and an open system of trade. This established a fixed currency exchange rate that could be created using gold as universal standards. -
International Monetary Fund
The IMF provides financial support to countries hit by crises to restore economic and financial stability and growth. Promote foreign aid. Increases job opportunities. -
World Bank
Its goals are to "End extreme poverty within a generation and boost shared prosperity". It provides countries with financial help and holds loans for multiple nations. It doesn't lend money to some nations simply based on their GNI and can be biased at times. Reduces poverty and increases job oppourtuitys. -
General Agreement on Trades and Tariffs (GATT)
Covers International trade in goods. Each member of the GATT was awaited to open its demands evenly to other member nations, removing trade separation. The agreements negotiated through GATT reduced average tariffs on man-made goods from 40 percent to lower than five percent. -
World Trade Organization
To ensure global trade commences smoothly and freely under stated law. An agreement for governments to negotiate trade agreements. A place for them to settle trade disputes and sort out problems in real time.