"Europe and the Great Depression of the 1930s" - Study Notes

The Great Depression of the 1930s was a result of World War I. Germany had to pay off war debts to France and Britain, but in the meantime, they borrowed money from the U.S. There was a chain connecting everyone, and when Germany finally failed to pay France and Britain, the chain of money stopped. France and Britain could not pay the U.S. back, and the stock market crash ensued shortly afterwards. Its …

…heavy machinery was emphasized. The labor for this development was supplied internally. Capital was raised from the export of grain even at the cost of internal shortages. The fact that Russia had a five-year plan probably allowed the Soviet Union to survive the German invasion. The targets of the purges were in all areas of party life. No one can explain why some were executed, others sent to labor camps, and still others left unmolested.