9/24/2020 (33) What was the result of the Great Depression on Russia’s government?

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The Great Depression History of the United States of America Economics

What was the result of the Great Depression on Russia’s

government?
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Shamim Huq, Civil, Piping, Structural Engr - All Star Linkedin (1977-present)
Answered November 4, 2018

It was not a Russian phenomena it originated in USA.

The great depression occurred in the US Economy in the 1920’s when money supply in the
middle class shrunk. FDR then instituted a range of measures to secure the Banks with
deposit insurance (FDIC) and subsequently with his fire chats encouraged to put their
money back in the bank. He also put people to work with Federal Government jobs to
build parts, infrastructure projects, adding to existing “land grant” colleges/universities.
Such activities put money in the pocket of people who now had work. As they spent their
earning it slowly perked up the economy.

We entered the world of economics by John Maynard Keynes - keep enough money in
circulation without inflation. It’s balancing act by the Federal Reserve Chairman. Essentially
we print more money but avoid inflation. The whole world now keeps a “dollar” reserve.
Hence, we in USA are blessed that other countries also feel secure to have their own
“dollar” reserve. America is thus blessed by God (nope) we have the trust of people and
governments all around the world who keep a dollar reserve.
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Thomas Hanson, History Buff, incessantly curious

Answered April 13, 2018

Absolutely nothing. 7 years before the Stock Market crashed, the Soviet Union was formed
under the leadership of Vladimir Lenin. He had instituted policies that started moving the
country from a nation that progressed little to none since the 1700’s, to a relatively
modern one. His biggest improvement was in grain production. (Just to be clear, this isn’t
an ad for communism, but it is hard to rule worse than the horrendously incompetent
Romanov’s, so Lenin only did what 99.99% of humanity could’ve done.)

But, during the mid 1920’s Stalin took control, and took a more extreme approach. He
massively overworked his people, forcing them to produce more. Where factories in the US
were closing and there was mass unemployment, there was full employment and then
some in the USSR. But keep in mind, very little of what they were doing was trading with
other countries. They were doing their fair share of that to be sure, but they were at odds
with a great many of the other major trading partners, and were mostly just trying to
spend a decade closing the gap that the rest of the West had 200 years and an industrial
revolution to advance, where Russia hardly moved at all. So most of the trade was internal,
and the Great Depression did essentially nothing to the Soviet economy.

R l t dQ ti
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