There were profound effects of the Great Depression (1929–34) on both the political and economic fronts. Describe Franklin D. Roosevelt’s New Deal. Did he want to impose a form of socialism?
The Paris Peace Conference held after the end of WWI, established the League of Nations. The primary objectives of the League were to promote international peace and security by settling international disputes through principle of collective security and to seek international cooperation for socio-eRead more
The Paris Peace Conference held after the end of WWI, established the League of Nations. The primary objectives of the League were to promote international peace and security by settling international disputes through principle of collective security and to seek international cooperation for socio-economic development across the world.
Role of the League of Nations in maintaining International peace
- Resolution of international disputes: The League sought to peacefully resolve territorial disputes between the members. For instance, it persuaded Greece to pay compensation to Bulgaria, when the former invaded the latter.
- It also solved a territorial dispute between Peru and Columbia.
- In 1921, when there was a dispute regarding Upper Silesia between Germany and Poland, the League successfully made both the parties reach a settlement and Upper Silesia was partitioned between the two.
- Opium trade and plight of refugees: The League also worked to combat the international trade in opium and sexual slavery and helped alleviate the plight of refugees, particularly in Turkey in the period to 1926. One of its innovations in this area was its 1922 introduction of the Nansen passport, which was the first internationally recognised identity card for stateless refugees.
- Monitoring the Governance of Mandates: The Permanent Mandates Commission supervised League of Nations mandates, and also organised plebiscites in disputed territories like SAAR region of Germany, so that residents could decide which country they would join.
- Promotion of human welfare: The League’s Health organization played a key role in finding causes of different epidemics. It was especially successful in combating the Typhus epidemic in Russia which had the potential to spread to the rest of Europe.
However, the League had certain limitations like:
- It had limited success in preserving international peace as it failed to intervene in many conflicts leading up to World War II, including the Italian invasion of Abyssinia, the Spanish Civil War, and the Second Sino-Japanese War.
- Further, the League was powerless and mostly silent in the face of major events leading to World War II such as Hitler’s remilitarisation of the Rhineland, occupation of the Sudetenland and Anschluss with Austria, which had been forbidden by the Treaty of Versailles.
- General weaknesses within the organization, such as voting structure that made ratifying resolutions difficult and incomplete representation among world nations.
- Additionally, the power of the League was limited by the United States’ refusal to join.
Thus, though the organization managed to de-escalate some tensions between nations and contributed to the concept of international law, the League was unable to prevent member nations from starting World War II.
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The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The Great Depression started after a major fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of OctobRead more
The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The Great Depression started after a major fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929, known as Black Tuesday.
Economic And Political Consequences Of Great Depression
The Great Depression had devastating effects on both rich and poor countries. Personal income, tax revenue, profits and prices dropped, while international trade fell by more than 50%. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. In the political sphere, the great depression was considered as one of the prominent causes for the rise of totalitarian regimes that led to world war 2.
New Deal Of FDR
The new deal is a set of economic and social welfare measures taken by president Roosevelt to tackle the great depression and revive the American economy. Based on Keynesian principles of state spending, this policy is credited with creating massive employment and preventing further decline in the economy. The new deal was introduced with three aims:
Did New Deal Introduce Socialism?
The major criticism against the new deal came from businessmen who accused FDR of encouraging socialism. State governments also resented the extent to which the federal government was interfering in state affairs, effectively harming the federal spirit and centralizing the governance. However, a close look at the new deal and its implications are necessary to come to a definitive conclusion on this aspect.
Fdr Rationale For Socialistic Policies
As FDR himself stated, the goal of the new deal is to save capitalism from communism. Thus the new deal is pragmatic and is intended to do two birds with one stone. It aims to revive the American economy while also fighting back the rising radical left-wing in American politics. While many European nations doing the same turned into fascist and totalitarian governments, FDR tactically co-opted the left to preserve capitalism. The biggest consequence of this co-opting left is it gave rise to the Welfare state model of polity that is widely followed now across the world.
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