All Flashcards
Compare Keynesian economics and Communism.
Keynesian economics involves government intervention to stimulate a capitalist economy. Communism involves state control of the means of production.
Compare Fascism and Communism.
Both involve state control, but Fascism maintains private ownership while Communism aims for public ownership.
Compare the New Deal and Five-Year Plans.
Both aimed to address economic problems, but the New Deal focused on relief and reform within a capitalist system, while Five-Year Plans aimed for rapid industrialization under communism.
Compare the causes of the Great Depression and the 2008 financial crisis.
Both involved financial instability, but the Great Depression was fueled by overproduction and debt, while the 2008 crisis was triggered by mortgage-backed securities.
Compare the Treaty of Versailles and the Treaty of Tordesillas.
The Treaty of Versailles was a peace treaty ending WWI that punished Germany and laid the groundwork for future conflict. The Treaty of Tordesillas divided the newly discovered lands outside Europe between Portugal and Spain.
Compare Keynesian economics and Laissez-faire economics.
Keynesian economics involves government intervention to stimulate a capitalist economy. Laissez-faire economics is an economic system with minimal government intervention.
Compare the New Deal and Five-Year Plans.
The New Deal was FDR's program of government spending and reforms to combat the Great Depression. Five-Year Plans were a focus on rapid industrialization and collectivized agriculture in the Soviet Union.
Compare Corporatism and Communism.
Corporatism is state control over private companies and industries, uniting state, worker, and employer interests. Communism involves state control of the means of production.
Compare the economic policies of the United States and Soviet Russia.
The United States used Keynesian economics, with more spending = better economy. Soviet Russia used Communism, with public controls means of production.
Compare the economic policies of Italy and Soviet Russia.
Italy used Fascism, with the state controls the means of production. Soviet Russia used Communism, with public controls means of production.
What were the causes and effects of the Treaty of Versailles?
Causes: Allied desire to punish Germany. Effects: Economic instability, resentment in Germany, rise of extremism.
What were the causes and effects of overproduction in the 1920s?
Cause: Industrialization. Effects: Surplus of goods, reduced demand, unemployment.
What were the causes and effects of the Stock Market Crash of 1929?
Causes: Speculation, inflated stock prices. Effects: Bank failures, business closures, mass unemployment, global depression.
What were the causes and effects of the New Deal?
Causes: Great Depression, mass unemployment. Effects: Job creation, social welfare programs, increased government role in the economy.
What were the causes and effects of Stalin's Five-Year Plans?
Causes: Desire for rapid industrialization. Effects: Increased industrial output, collectivized agriculture, famine, harsh punishments.
What were the causes and effects of the Allied powers needing German reparations?
Causes: Allied powers needing German reparations to repay their debts. Effects: Germany took loans from the U.S. to pay reparations.
What were the causes and effects of the Great Depression?
Causes: Debt crisis, overproduction, stock market crash. Effects: Forced governments to abandon the idea of a completely free market.
What were the causes and effects of the War Guilt Clause?
Causes: Germany was solely blamed for WWI. Effects: Fueled resentment and nationalism in Germany.
What were the causes and effects of Keynesian economics?
Causes: Governments should actively stimulate the economy through spending and public works projects. Effects: Helped end the Great Depression (along with WWII spending).
What were the causes and effects of the New Economic Policy (NEP - Lenin)?
Causes: State control of major industries, banks, and businesses. Effects: Increased industrial output, collectivized agriculture, famine, harsh punishments.
What was the Treaty of Versailles?
1919 peace treaty that punished Germany, leading to future conflict.
What happened in the Stock Market Crash of 1929?
The U.S. stock market plummeted, triggering a global economic crisis.
What was the New Deal?
FDR's program of government spending and reforms to combat the Great Depression.
What were Stalin's Five-Year Plans?
A focus on rapid industrialization and collectivized agriculture in the Soviet Union.
What was the Russian Civil War?
After the Russian Civil War, communism took hold.
What was the New Economic Policy (NEP - Lenin)?
State control of major industries, banks, and businesses.
What was the Great Depression?
A global economic downturn caused by debt, overproduction, and the stock market crash.
What was the effect of the Treaty of Versailles?
Crippled the German economy, fueled resentment and nationalism in Germany.
What was the effect of the Great Depression?
Forced governments to abandon the idea of a completely free market.
What was the effect of the Allied powers needing German reparations?
Allied powers needed German reparations to repay their debts.