France responded to the Great Depression with tax hikes, spending cuts, collective bargaining, a 40-hour work week, paid vacations and a partial nationalization of the Bank of France. Many of these reforms were suspended later in the Great Depression, and France's leadership steered recovery efforts in a more business-oriented direction.Know More
The Great Depression for France began in 1931. A downtrodden economy led to the rise of socialist leader Leon Blum and the Popular Front. He and his party instituted social reforms to boost the economy, but Blum was impeded by right-wing fervor that had swept across France.
Blum raised the minimum wage by 7 to 15 percent to increase the purchasing power of workers so that they could stimulate the economy. Blum also proposed that banks should place the interests of the nation above shareholders, and he controlled the price of cereal. However, these policy measures proved unpopular to those on the left and right. Blum stopped his reforms by 1937, and he resigned that same year.
A new government was formed without socialist input, and new leader Edouard Daladier proposed liberal economics as a way to solve France's economic woes. Employers and police disbanded labor strikes on a harsher scale, and Daladier was granted emergency powers in 1938 by the Senate. Conditions slightly improved under Daladier's watch, which could be attributed to growth in armament manufacturing. France declared war on Germany in 1939 in response to Hitler's invasion of Poland.Learn more about US History
During the majority of the Great Depression, the President of the United States of America was Franklin Delano Roosevelt. However, the Great Depression began in 1929, when Herbert Hoover was in office. Franklin Roosevelt did not assume the presidency until 1933.Full Answer >
Government programs like the New Deal helped Americans cope with the Great Depression, which began on Oct. 29, 1929. People still found inexpensive ways to have fun, like social activities and movies.Full Answer >
Some historians believe that the Great Depression was ended by the start of World War II. Others believe it was actually the end of World War II that put the economy back on its feet. Historians generally agree that the government's spending helped to at least accelerate the country's rate of economic recovery.Full Answer >
Franklin Roosevelt made a number of suggestions to spur the economy and help end the Great Depression, including introducing basic banking and welfare reforms. While many of his programs did not take effect until much later, his ideas and programs have lasted throughout the years.Full Answer >