Asked by wholemelt
Why did people demand not just banking and stock market reform but also new forms of government after the Great Depression?
Governments refused to make post-Depression financial reforms.
The Depression shattered people’s confidence in the government.
Banks and stock markets were minimally responsible for the Depression.
Resentment of existing governments began well before the Depression.
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The Depression shattered people’s confidence in the government.
Widespread unemployment, poverty, and the inability of existing governments to stop the collapse convinced many that ordinary political and economic institutions had failed. That loss of faith led people to demand not only financial regulation but more fundamental political change—ranging from expanded state intervention (New Deal-style reforms) to radical alternatives (fascism, communism) in different countries.
Widespread unemployment, poverty, and the inability of existing governments to stop the collapse convinced many that ordinary political and economic institutions had failed. That loss of faith led people to demand not only financial regulation but more fundamental political change—ranging from expanded state intervention (New Deal-style reforms) to radical alternatives (fascism, communism) in different countries.
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