Wednesday, November 10, 2010
Imbalance of nations
In my opinion the after effects of WWI caused a plethora of good things to happen in the US. People began to research new medical advancements, which in the end improved inoculation of disease, and increased the human life span. After WWI there was also an increase in technology such as the radio and automobiles. Hence communication, and transportation excelled substantially, the US had hit the dawn of a new era. Unfortunately not all places could advance, nations like Germany were stick in a rut because they had been in the middle of everything. But sense the US had not been fighting on its own turf and had money coming to it from the nations that it had helped and supplied the US was having a hay day. But i have a question. Was it because the US was having such economic prosperity, and technological advancements, and other nations were being left to try to pull things together that the depression came about. Did that imbalance ultimately cause the depression?
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i think the inbalance did cause the depression. i mean, it was great that as a country we were able to develop and prosper, but it doesn't really get to be put to use if there isn't another nation to share the wealth. the other nations were so deep in dept and owed so many loans to us that we couldn't sell any of our developments to anyone else. and as the chapter says, this led to inflation in prices which was a huge factor in the cause of the crash.
ReplyDeleteYou're right, it was the imbalances and global economic problems that resulted in the Great Depression. Like you said pretty much everyone but the U.S. was in serious debt and was trying to recover from the war and there was serious inflation. We'll talk more about this in class I'm sure :)
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