Term paper on reparations

But, undoubtedly, the greatest burden of the economic crisis objectively rested on the shoulders of ordinary citizens. The massive decline in industrial production, the closure of tens of thousands of factories, mines and huge underemployment of production facilities – all this led to a tremendous increase in unemployment. The army of the unemployed, highly significant in the period of capitalist stabilization of the 1920’s, now increased many times over (Solomou & Weale 2010, p. R58). If we add the fact that the . had no state social insurance system, and many banks collapsed taking away the deposits of citizens, we can say that people had no hopes either for aid from the state or to get their money back. Many people faced a real threat of starvation. People lost the faith in themselves, their power and for a long time were in a state of psychological depression, which was much worse than the economic one (McElvaine 1993, p. 173).

Term paper on reparations

term paper on reparations

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