Nice video. Very well put together. It is one of the few videos I have seen covering this topic It could be a bit better if you did more of a script and perhaps used less black screen and some slides but other than that it was very informative and you linked the topics well. It strikes me that the similarities between the USA today and the UK in 1930 are very similar in an economic and trade sense. The UK lost out to cheaper competitors because no tariffs were in place. Yet other countries had them. I see large similarities to Trumps US trade policies no?
thank you so much you are a life saver i gave you a subscribe if you want i wonder how the depression reached Britain and what were the causes and factors that led to the depression and how it affected the citizens
For Britain, the economy was really depressed through the 1920s, compared to before WWI. Britain found their way out of the Great Depression by concentrating on housing. There was a lot of old housing that needed to be replaced as well as a need for new housing. Because demand was low, so was demand for money, which meant that the government could borrow and invest in housing. As it turns out housing triggers a lot of demand for supplies for making the houses, and construction jobs, but also things like outfitting the houses, like furniture and house hold appliances and utensils. This finally got the British economy going. Shortly after that Britain began investing in munitions. Beginning in July 1934 Germany under Hitler began an all out rearmaments program that increased German GNP nearly 140% by 1940. Britain began to make investments in munitions about a year and a half later (after January 1935). However, the intensity of the rearmaments was not the same as Germany’s which was maniacal. New factories in new industries were built in the Midlands and the North West, for airplanes, electronics, engine manufacturing and military vehicles and modern munitions - even naval ship building was initiated. An argument for appeasement might have been that Britain and France were buying time. But they were behind Germany in every measure, whose was building up, not just for war with Britain and France but also with Russian and perhaps the United States. The Movie Mrs. Miniver captures what England was like just when the war was starting..
The areas of uk that the presenter mentions.. were hit the hardest, as he also mentions, was due to huge rises in prices of goods after the global economic crash, causing a decline in exports to these industries, the uk pressured these countries to oblige on their trade agreements, most agreed, but in turn.. placed huge tariffs on the goods they had agreed to export to Britain.. which would force the uk to diminish the tonnage of its export duties, thus causing mass unemployment within the areas mentioned, as nearly all of the local citizens in the area relied solely on the income from these industries.. So as most countries, due to tariffs and high import rates, countries turned inward.. the uk moved towards raising a better living standard by building more modernised homes and towards research and design and a more sustainable agriculture, in knowledge that it relied heavily on imports during the war. Britons had a much better standard of living between the wars than many other western countries.. 🙌🏽
This is a good question! possibly a similar few years ahead but the world is at a much more advanced starting point now than it was in the 20's/30's IMO.
