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by realusername 2639 days ago
> (wouldn't the UK or France be more interesting comparisons?)

France wasn't affected much by the Great Depression because it had an economy centralised around the colonies, it affected a lot Germany but in France not that much.

1 comments

No, the reason why was France pegging to gold at a very favourable rate in the 1920s. The UK, obviously, was not short of colonies but got absolutely rolled in this period because they pegged to gold at their old rate instead of devaluing. This led to huge unemployment issues (even before the GD). Germany suffered because they were heavily reliant on flows of US capital causing bank failures (there was a tremendous boom between 25-29).