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WWl
World War 1 was a worldwide conflict that lasted from 1914 to 1918. The war had a lot of effects on a number of countries because some of them had put in a lot of resources in the war which led to these countries experiencing a horrid economic recession after the war -
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Rise of Communism
Before the revolution and the rise, The russian society was divided into two classes. They were rich and poor. The wealthy belonged to the wealthy class. Peasants, labourers, and slaves belonged to the poor. These societies were unbalanced. No class can be happy. The Russian Revolution ended the dictatorship of the Russian Emperor. With the establishment of a democratic government, the autocratic rule of Tsarist came to an end. -
Treaty of Versailles
The Treaty was made to determine what should happen to Germany after the War, one of the conditions of the Treaty was that Germany was to take full blame for causing the war, and all the damage that was done during it. The treaty instead created an economic and political crisis that led to the rise of Hitler and the start of World War II. -
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Stalin
He was the one who catapulted the Soviet Union from a poor and dirtrural country to a country capable of challenging the United States. He is also responsible for one of the horrible purges in the history of the USSR that look millions of innocent lives. -
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The Great Depression
The Great Depression, began in the U.S and spread worldwide. It was the longest and most severe economic downturn in modern history. It was marked by declines in industrial production and in prices, huge unemployment, banking panics, and sharp increases in rates of poverty and homelessness. -
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Hitler
Adolf Hitler was the leader of the Nazi party, which made him one of the most powerful and notorious dictators of the 20th century. The main contribution Hitler made to the German society was that he completely destroyed Germany. Not only did he destroy lives, Germany had no economy, no coherent political system, no communications system, no libraries, no schools, and no hospitals. -
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WWll
It was the largest (armed) conflict in history. It spanned the entire world and involving more countries than any other war, as well as the introduction of powerful new weapons, and the first use of nuclear weapons. -
WTO and IMF
The history of international trade has been a battle between protectionism and free trade, and the WTO has fueled globalization, with both positive and adverse effects. IMF loans are essentially aimed at resolving short-term balance-of-payments problems. The financial liberaliation issues restructure the whole economy and affect its long-term development potential. -
Bretton woods Conference
The Bretton woods Conference was a game-changer in the economy all around the world. The conference outcome for it had a shift of economic power from Britain to the U.S. It has changed the economic system and was a first of its kind. -
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World Bank
The World Bank is an international organization that provides financing, advice, and research to any developing nations to help them grow their economies. The World Banks aim is to help poor people, but the effects of its policies are that the rich get richer on running up debt. -
General Agreement on Trades and Tarriffs
It was intended to boost economic recovery after World War II. The impact of tariffs was immediate and significant. Trade agreements generally lower trade barriers which promotes economic growth, efficiency, technological progress and the most important thing; consumer welfare.