The Great Depression and the Rise of Totalitarian Leaders
Spanish dictator Francisco Franco [1]
After World War I, many American banks invested their money in rebuilding Europe. However, the 1929 crash caused a shortage in capital. Those investors who still had money to invest lost faith in the European market. The collapse of the United States economy following the 1929 stock market crash affected most of the world. The Great Depression hit European countries hard, which led to unemployment, poverty, civil unrest, and general despair.
The Great Depression resulted in a 25% unemployment rate in the United States. The unemployment rate in Germany was 33%; this severe unemployment led to a surge in Nazi Party membership. This contributed directly to the rise of Adolf Hitler in Germany. Adolf Hitler, Benito Mussolini, Francisco Franco, and other totalitarian leaders won the support of citizens with promises of steady jobs and adequate food.
Page Notes:
[1] Source: This image from http://en.wikipedia.org/wiki/File:Franco0001.PNG is in the public domain.
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