The World Economic Crisis of 1930-1931
The world economic crisis of 1930 is the first typical crisis of imperialism. The imperialist character of the crisis of 1907 was expressed more in its international political effects than in the character of the economic cycle itself. The crisis of monopolism that came to maturity in 1914 passed over into an imperialist war. This chapter deals with industrial expansion and crisis in the aftermath of world war. It presents statistics of foreign trade for the United States. Once the war ended and the specific market acquired by the United States on the territory of belligerent Europe was eliminated, the economy of the United States then began to develop into the postwar period. Heavy industrial expansion in the United States not only delayed a crisis in countries producing material, but even provoked some of them into significantly expanding production. The economic crisis in material-producing countries leads to a sharp curtailment of their exports and imports, including curtailed imports from Europe.