domingo, 11 de mayo de 2014

4º British: The Crack of 1929 and the Great Depression

We studied in class the Wall Street Crack of 1929 and its consequences: a huge international crisis (By the way, here you have the last Weekly Work of this Academic Year!). You can watch the link to a youtube video (58 minutes, in Spanish languaje): An extensive video that explores the origins of the Great Depression and its aftermath; also concludes by drawing analogies with the origins of the current crisis of 2008.

How did they solve the crisis in the 1930s? Look at the drawing:

The economical ideas of Keynes were implemented in the U.S.A. with unequal fortune by President Roselvelt under the so-called "New Deal". Those economical policies were accompanied by others of great social significance, it laid the foundation for a renewed capitalism: the so-called "welfare state" system (Estado del Bienestar). Capitalism would not be the same as before. The state would intervene to prevent further collapse of the financial system and the excessive stock market speculation; it would also provided, in addition, a system of social security. 

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