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Surname 1 Name Instructor Course Date Video questions Question 1: Following the devastation of World War I, what still-unresolved factors might have led to renewed hostilities? World war II arose due to the resentment and dissatisfaction among nations that emerged as losers in world war I. these nations were subjected to humiliation and economic devastation. At the same time, western powers underwent reconstruction and emerged victoriously. Generally, the unresolved factors after the world war can be categorized into economic and political. The economic devastation of world war I on axis powers brought about huge dissatisfaction and yearning for the defeated countries to regain their former glory. Germany, for instance, was forced to make reparations for the damages suffered in the world while being subjected to restrictions that limited its economic growth and recovery. The same was the case with Italy which also suffered economic decline. In Russia, the Bolsheviks under Stalin were opposed to capitalist ideologists and even mobilized peasants to take over property owned by the landowners. The stock market crash of 1929 amplified the shortcomings of capitalism. Within a short duration, economies worldwide were on the verge of collapse, with millions being put out of work. This resulted in a sorry social situation where people in some countries depended on food donations by the government. In contrast, others faced starvation, for instance, in the Soviet Union and other remote regions of the developed world.

Surname 2 Upon these seeming failures of capitalism that fascists and fascist alike movements came to power in Europe. In Germany, Hitler capitalized on the high levels of unemployment and the effectiveness of the democratic Weimer government to correct the situation. The same was the case with Italy, resulting in the increased popularity of Benito Mussolini. In Russia, the Bolsheviks used capitalism as a scapegoat to shield themselves from their failures to revive the economy after the fall of the Russian empire. There was also unrest in the western world, with American world war I veterans taking to the streets to demand the promised benefits after world war I. During the reconstruction period after the great war, allied countries led by the United States and Britain had achieved remarkable economic recovery. However, the stock market crash brought that to an end and reduced their global influence, which paved the way for fascist regimes to take charge. Japan, on its part, became more aggressive as it realized the need for colonies to finance its deficit budget, which was necessary for economic stimulation. Germany was most agitated by the restrictions put in place by the treaties of peace following the first world war. Germany lost its territories and colonies and was subjected to experimentation with democracy. At the time, the strength of a nation was derived from how much territory they had; hence it is with no doubt that Germany felt humiliated when foreign powers took over their territories. Upon the rise to power, Hitler outlined in motion plans for Germany to retake the territories it had lost and also increase its size. In Japan, the government realized the economic benefit for colonies which encouraged its aggressive expansion all over Asia. Britain and the United States took on a passive role which resulted in the unification of Russia, Japan, Germany, and Italy, nations that would form the axis powers in the second world war. The passiveness made countries more aggressive, especially after Germany received no repercussions after it violated the terms of the peace agreements. Because of this laxity by America and Britain,

Surname 3 Germany became aggressive and invaded Poland, effectively starting the second world war. Economic visions of Japan led it to develop a pact with Russia and Germany, which reduced the influence of the USA and Britain as they were not seen as threats to their expansion policies. The anti-Comintern pact of 1936 between Japan and Germany and later Italy led to the unity of revisionist states. These were states who rejected free-market capitalist and communism. They were willing to take any measures to eliminate these ideologies, which meant war was inevitable. How do political and social concerns affect economic policy Political and social concerns have a huge impact on economic policy. Governments try to maintain political support by addressing social issues through a robust economy. It is, therefore, no surprise that governments pump the economy during election periods when they need the support of the masses. In the early part of the twentieth century, European governments had been separated from their respective economies mainly by two trends. One was the reduction of government control on the economy, and two was the emergence of varying forms of government across Europe after the fall of European monarchies. The great depression, however, brought the need for government involvement with the new deal in the United States, the new plan in Germany, and other policies across Europe. All the governments were reeling from the adverse social and economic effects of the great depression and only got a lifeline by promising to make the situation better. Different approaches were taken in the development of economic policy. In the United States, the government focused on expansionary policy where it made massive investments in infrastructure, thereby creating jobs and stimulating the economy in the process. In Germany, the

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Surname 4 political establishment was focused on the expansion of Germany as a superpower which led to the development of policies inclined towards war. Most of the resources were driven towards infrastructure and ammunition production, which stimulated the economy but neglected other crucial sectors such as agriculture. Hitler’s economic policies were war, employment, independence, and Land. The policy of independence was designed to reduce Germany’s reliance on other countries in preparation for the inevitable war. Therefore, the reduction of imports was not solely to boost the consumption of German products but to ensure that Germany could sustain itself in the event of war. Japan was also dominated by the expansion of territory, which made its economic policies inclined towards colonialism and the production of military equipment. Russia faced a wide range of social problems: poverty, starvation, and unrest, which threatened the political class. Therefore, it is no surprise that soviet leaders came up with collectivization policies to solve food security challenges and reduce the political unrest in the country. Communist political goals of global domination made the Soviet Union open to international trade with which it was able to develop beneficial allies to facilitate its course. Political inclinations towards certain ideologies such as capitalism and socialism impact economic policies. Capitalist governments incline towards market liberalization and increased international trade. Socialists, on the other hand, call for increased government interference in the economy. Capitalism creates social classes which all may not support, while socialism abolishes such classes. It is, therefore, all dependent on the inclination of the government and society that economic policies are developed. After all, economic policies are only adopted if they suit the objectives of the government and society. The relationship between political, social, and economic aspects is symbiotic. The economy influences politics and society, which in turn influences the development of economic policies.

Surname 5 Therefore, it is right to conclude that political and societal systems are instrumental in developing economic policies.