FRONT PAGE – Wars in Europe

During the Great Depression that began in 1929, several countries abandoned the gold standard (including the UK), while others, such as France, remained anchored to it. This led to a collapse of international trade, which amplified and prolonged the effects of the US crisis. The lesson we should have learned is that national responses to global crises are ineffective and can be highly destabilizing, and in the case in point were partially responsible for the climate that led to the outbreak of the disastrous Second World War.

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