AP Modern World > Great Depression > Flashcards

Great Depression Flashcards

(64 cards)

Study These Flashcards
1
Q

What were the underlying causes of the Great Depression

A

Inequality
Overproduction
Buying on Credit
Weak Banking System
Stock Market Crash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

How did America respond to the Depression?

A

John Maynard Keynes and Free Market
- Government should be active to help people.
FDR and the New Deal
- Relief: WPA, CCC
- Recovery: NIRA
- Reform: Social Security

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Collapse of American economy goes global

A

Economic Nationalism
- Higher Tariffs -> Decrease in Trade
Import substitution
Transition to totalitarianism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Totalitarianism

A

Dictatorship or Single-Party leadership with complete control through oppression and terror
- communism
- facism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

POST WAR GLOBAL ECONOMY

A

After WWI, Japan and the US were the only two major creditor nations.
Impact of Treaty of Versailles and its economic sanctions
- Weimar Republic [Germany]

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

1920s: THE WEIMAR REPUBLIC

A

Germany’s democratic government, 1919-1933
After the war, defined by:
- Political instability
- War debts -> Government prints money to alleviate economic woes.
hyperinflation
Dawes Plan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Dawes plan

A

1924
Stabilize german economy
“The Golden Age of Weimer” 1924-1929
US paid Germany who paid a lot of it to Allies
Allies sent money form germany and money they borrowed from US back to US

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

USSR under Stalin

A

Five year Plans
Collectivization of agriculture
The Great Terror, or Great Purge, 1937

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Five year Plans - 1928-1941

A

goal to modernize Russia
Output increases by over 50% every five years until 1941
Coal, steel, oil, electricity grew in output
But many died and it wasn’t as good as that in europe because not trained

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Collectivization of agriculture

A

Consolidate farmers into collectives
Farmers must sell grain to government
- Famine -> 5 million deaths
- Sent to Gulags
Blames shortages on Kulaks - wealthier peasants, resisted collectivization
Small farms are ideas of not wanting to contribute to state
Holodomor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

gulags

A

forced labor camps for enemies of the state
Build infrastructure of USSR
Railroads, canals
Nearly 2 million died

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Holodomor

A

Massive famine in Ukraine, 1932-1933
Labeled by many as genocide today
Took food from ukraine and killed intellectuals to stop resistance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

The Great Terror, or Great Purge, 1937

A

Stalin’s organized campaign to eliminate the USSR and Communist Party of any “enemies of the state”
- Bolsheviks from Lenin era
- Around 700,000 executed
- 100,000s more sent to Gulags

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Causes of Great Depression in US

A

Stock market
speculation and crash
of 1929

Bank failures and lack
of deposit insurance

Overproduction in
agriculture and industry

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Global causes of Great Depression

A

International debt and
reparations after World
War I

Decline in global trade
and protectionist policies

Economic dependence
on U.S. loans and
investments

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Global Trade and
Protectionism

A

Smoot-Hawley Tariff
worsened international
trade by raising tariff rates

Countries raised tariffs to
protect domestic
industries

Economic nationalism
limited global recovery

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Smoot-Hawley Tariff

A

aimed to protect U.S. farmers and manufacturers from foreign competition by raising import duties to record levels. Instead of helping, it triggered massive global retaliation, causing international trade to plummet by over 60% and intensifying the Great Depression

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Impact on the
U.S. Economy

A

Unemployment soared
to nearly 25%

Widespread poverty and
homelessness

Banks closed and
savings were lost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Impact on Germany

A

hyperinflation and economic collapse

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Impact on Britain and France

A

high unemployment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Impact on Asia

A

Japan faced economic slow down despite growth
- bank run
China suffered ongoing instability and limited industrialization
other nations faced trade disruptions and poverty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Social effects of Great Depression

A

mass migration and displacement of families
rise in homelessness and soup kitchens
decline in birth rate and public moral

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Political Effects and
Instability

A

Growth of extremist
political movements

Increased government
intervention in some
countries

Rise of protests and
labor strikes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

The New Deal:
Overview

A

President Franklin D.
Roosevelt’s plan to combat
the Great Depression in
the U.S.

Programs focused on
relief, recovery, and reform

Expanded the role of the
federal government

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Key New Deal Programs
Civilian Conservation Corps (CCC) Works Progress Administration (WPA) Social Security Act
26
Opposition to the New Deal
Critics claimed it expanded federal power too much Supreme Court challenges to some programs Business leaders worried about regulations and taxes
27
Economic Recovery in Europe
Germany’s recovery took place under Nazi economic & military policies Britain implemented public works and welfare programs France experimented with economic planning
28
Responses and Recovery in Asia
Japan increased military spending to stimulate economy Some nations adopted trade and industrial reforms China implemented limited economic reforms under instability
29
Long-Term Effects on Government Policy
Increased government regulation of banks and markets Creation of social safety nets like unemployment insurance Shift toward more interventionist economic policies
30
Summary of Effects
Great Depression had global impact on economy and society Government responses varied widely Lessons influenced future economic policy and crisis management
31
Lessons Learned from the Great Depression
importance of financial regulation and oversight need for international economic cooperation role of government in economic stabilization
32
Soviet Five-Year Plans (1928-1940):
The USSR set ambitious production targets for industry, focusing on coal, steel, oil, and machinery. Peasants were forced into collective farms. While industrial output increased dramatically, agricultural collectivization caused the Holodomor famine in Ukraine (1932-33) that killed millions
33
Nazi Germany's Four-Year Plan (1936):
Designed to make Germany self-sufficient in strategic materials and ready for war within four years. The government directed investment toward synthetic fuels, rubber, and metals while restricting imports and consumer goods
34
Italy's Battle for Grain (1925):
Mussolini's campaign to make Italy self-sufficient in wheat production. The government provided subsidies and propaganda to boost grain growing, but diverted resources from more productive crops and achieved limited success
35
British Welfare State
Britain gradually built social insurance programs including unemployment benefits, old-age pensions, and eventually the National Health Service (1948). These reforms preserved capitalism while providing economic security
36
Keynesian Economics
Economist John Maynard Keynes argued governments should increase spending during recessions to stimulate demand and create jobs, even if it meant running budget deficits. This theory influenced democratic nations' responses to the Depression.
37
Autarky
economic independence or self-sufficiency
38
Command Economy
In a command economy, the government owns almost all property and businesses, and makes all major economic decisions through central planning. Individual choice is severely limited
39
Fascist Corporate State
Fascist economies kept some private ownership but gave the government enormous control over business decisions. The government coordinated different industries and labor groups to serve national goals
40
State-Guided Capitalism
The government works closely with large corporations to direct economic growth, especially in industries important for military power. Private ownership continues but under government guidance
41
Democratic Interventionism
Democratic governments created welfare programs and public works projects to protect citizens from economic disaster while preserving democratic freedoms and private enterprise
42
Colonial Extractive Economy
Colonial powers continued forcing colonies to produce cash crops and raw materials for export, with little investment in local development. This system remained largely unchanged despite global economic shifts
43
Hyperinflation
Germany experienced catastrophic inflation in 1923 when prices doubled every few days. People's savings became worthless overnight. A loaf of bread that cost 250 marks in January 1923 cost 200 billion marks by November
44
Aftermath of World War I
World War I destroyed economies across Europe, killed millions of workers, and left nations deeply in debt. The Treaty of Versailles imposed harsh reparations on Germany, creating economic instability
45
Collapse of Global Markets
International trade networks broke down as countries raised tariffs (taxes on imports) to protect their own industries. This made the Depression worse and pushed nations toward economic self-sufficiency
46
Ideological Motivations
Different political philosophies offered competing visions for organizing society: - Communism (USSR): - Fascism (Italy, Germany): - Democratic Socialism (Britain, Scandinavia):
47
War Preparation
As tensions grew in the 1930s, many governments increased control over economies to prepare for potential conflict, focusing resources on military industries and strategic materials
48
Fear of Social Unrest
Governments worried that economic suffering might lead to revolution, as happened in Russia in 1917. Intervention seemed necessary to maintain social stability and political order
49
Facism
merged in interwar Europe (1919–1945), prioritizing state power over individual rights. Characterized by dictatorships, militarism, and propaganda, it rose in response to World War I bitterness and economic instability, notably under Mussolini in Italy and Hitler in Germany. - ultranationalism - authoritarian leadership - anti-democratic/anti-communist - mass mobilization - propoganda - militarism
50
Four-Year Plan (1936):
The 1936 Four-Year Plan was a Nazi German economic program spearheaded by Adolf Hitler and managed by Hermann Göring to prepare the country for war by 1940. It focused on achieving military rearmament, economic self-sufficiency (autarky) in raw materials, agricultural production, and labor retraining
51
Laissez-faire
an economic philosophy advocating minimal government intervention in the market, allowing free competition and private ownership to drive prosperity
52
Nationalization
governments seizing control of private assets, industries, or resources to manage the economy, reduce foreign influence, or boost development
53
Reparations
Germany had to pay after WW1 to compensate victors
54
Welfare State:
a government system providing economic and social support—such as healthcare, education, and pensions—to ensure a minimum standard of living and reduce inequality
55
Zaibatsu
massive, family-owned business conglomerates that dominated Japan’s economy from the Meiji Restoration (1868) until World War II, playing a vital role in Japan's rapid industrialization and military expansion. Key zaibatsu (Mitsui, Mitsubishi, Sumitomo, Yasuda) controlled banking, manufacturing, and trading.
56
USSR
Command economy Five-Year Plans, collectivization, state ownership, forced labor camps (gulags) Rapid industrialization, communist ideology, national security Massive industrial growth, widespread famine (especially 1932-33), political repression, millions dead
57
Nazi Germany
State-Directed Capitalism Dawes Plan, public works (autobahns), Four-Year Plan, rearmament Hyperinflation recovery, mass unemployment, preparation for war, autarky Unemployment dropped dramatically, military buildup, loss of freedoms, path to WWII
58
Italy
Fascist Corporate State Corporate state structure, Battle for Grain, labor coordination National unity, self-sufficiency, controlling workers Limited economic success, increased state power, suppression of labor rights
59
Japan
State-Guided Capitalism Zaibatsu coordination, military industry expansion, invasion of Manchuria Resource scarcity, imperial ambitions, trade collapse Industrial growth in heavy industry, militarization, regional expansion
60
Britain, France, Scandinavia
Democratic Interventionism Welfare programs, public works, nationalization of key industries, social insurance Great Depression, unemployment, fear of extremism, Keynesian economics Social safety nets established, democracy preserved, partial economic recovery
61
Colonies (Africa, Asia, Latin America)
Extractive Economy Cash crop production, forced labor, resource extraction, trade controls Benefit imperial powers, fund war debts, maintain control Extreme vulnerability to price shocks, famines, rising nationalism and independence movements
62
NINETEENTH CENTURY JAPAN
1868: Meiji Restoration - Modernization, Industrialization -> Need for raw materials. 1890s - 1910s: Regional Military Dominance - First Sino-Japanese War (1894-5) - Russo-Japanese War (1904-5)
63
what contributed to the transition to authoritarianism in Japan?
Conservative reaction to 1920s - Urban Protests, Union activism, Women’s Rights Great Depression Rise of Revolutionary Right
64
what characterized authoritarianism in Japan
Power of the military Censorship Government Spending State-run education - Cardinal Principles of the National Entity of Japan
AP Modern World
flashcards
Decks in class (8)
# Cards
Brainscape helps you reach your goals faster, through stronger study habits.
© 2026 Bold Learning Solutions. Terms and Conditions