What?: About ten years after the end of World War I the nations of the world all suffered through an economic depression coupled with poor harvests resulting in loss of jobs and high prices for food and goods.

Where?: Worldwide

When?: 1927-1937

Who?: The depression hit all, rich, poor, democracies, dictatorships, all were effected.

Why? The interconnection and interdependence of national economies. When hard times hit one country it quickly spread to other states.

Results:
1)Massive unemployment.
2)Dictatorships seize power in Germany, Italy and Hungary promising to provide jobs.
3)Dictatorships in the Soviet Union and Japan gain power by limiting the effect of the depression in their nations
4) Democracies like Britain, France and the United States suffer greatly and are challenged by advocates of dictatorship.
5)Food shortages

Related Terms: 1) Depression, 2) Recession, 3) Dictatorship, 4) Influenza Pandemic, 5) Interdependence & 6) Unemployment