Causes and Consequences of the 1929 Stock Market Crash
Causes of the 1929 Stock Market Crash
Unbalanced Economic Growth:
- Overproduction: The market was flooded with goods, but demand did not grow at the same pace, leading to saturation and unsold inventory.
- Easy Credit: Americans were encouraged to buy on credit and accumulated significant debt.
- Market Saturation: The American market became saturated, leading to declining sales.
- Falling Prices: Producers reacted by lowering prices. Costs began to exceed profits. Farmers experienced difficulties in loan repayment.
Spanish Civil War: A Concise Summary
At the end of July 1936, Spain was divided into two zones: one Republican, and the other controlled by the Nationalists. The Nationalists controlled part of Andalusia, Castile and León, Galicia, the Balearic Islands, and fields of Aragon and Extremadura – primarily agricultural areas with conservative political leanings.
The Republic held northern Catalonia, Levante, Madrid, Castile-La Mancha, and part of Andalusia – encompassing major cities and industrial areas.
Progress Towards Madrid
The Nationalist
Read MoreSpanish Political History: From Socialism to the Euro
The Socialist Government’s Consolidation of Democracy
From a historical perspective, the long period of socialist government can be defined as the consolidation of democracy. The socialist government, armed with the authority of ten million votes, proceeded decisively with military discipline. Under Narcís Serra, the new legal management of the military in democracy was completed, including the National Defense Law and reform of the Code of Military Justice.
The first socialist government had a fairly
Read MoreThe Second Spanish Republic: Reforms and Tensions (1931-1936)
The Proclamation of the Republic (1932)
In 1932, the Republic was proclaimed in Spain, with a provisional government presided over by Alcalá-Zamora. This government was formed by the Pact of San Sebastian. During this period, the government of the Republic was led by center-left forces. The provisional government called parliamentary elections and implemented reforms in four key areas: agriculture, education, the military, and the Church.
Key Reforms of the Provisional Government
- Agriculture: The
Spanish Renaissance Architecture
The Renaissance arrived in Spain in the sixteenth century. At first, it was confined to foreign decorative elements, especially from northern Italy (grotesques, decoration “to candelieri”, trophies, etc.).
Plateresque (First Third of the 15th Century)
- The most common arch is the half-point arch. In the spandrels of the arches, medallions with classic or fancy heads are usually used.
- The key vaults are highly decorated.
- The decorative motifs are Quattrocento: padded balustraded columns with Corinthian
18th and 19th Century: Politics and Economics
Economic Liberalism
Adam Smith: In The Wealth of Nations (1776), he claimed that individual work, aiming to obtain maximum personal benefit, is the true source of wealth.
Bourbons: Treaty of Utrecht and Rastatt
Philip V became king, but he renovated and ceded the Spanish possessions.
Political Reforms
- The King held all the power.
- Expelled the nobility and the clergy from power.
- Did not celebrate the Cortes.
- Had secretaries and ministers.
Political and Administrative Centralization
Imposed by Philip V through
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