World Recession of 1933

The World Recession of 1933, sometimes known as the 1933 Crisis, was

French people in Paris rioting after the news of the recession broke in the capital

### **Outcome**

Rise of global radicalismRe-emergence of the CGT

Syndicalist election victory in Mexico

a global economic crisis stemming from the beginning of the 2nd American Civil War.

## **Origins**

Most historians agree that the 1933 Recession began as soon as the 2nd American Civil War began as well. America, which had been suffering from economic woes and hardships for over 15 years since 1917 finally saw its demise after the would-be president Franklin Delano Roosevelt was assassinated in March, and some time later New York declared itself independent from America. Immediately the recession began as New York, containing one of the most important cities in the world was in a war zone. The economy completely halted, assets froze in the United States as state after state pushed out federal forces as the USA, which had not seen fighting on its soil in over half a century became a warzone. As fighting began the entire United States economy froze, and since only Alaska was a viable United States territory to trade with, the entire country was not available to the outside world. Many foreign companies saw heavy amounts of damage, especially in the mid-west as socialists took hold of those states, and many foreign assets were seized by red forces. That is not even to mention that much of the world relied on American resources such as oil. Without it dozens of countries found themselves in instant danger on the global market.

## **Its global impacts**

The economy as the world knew it would be vastly changed forever as multiple countries were forced to find other trading partners outside of the United States. Though most would succeed, it left unhealed scars on the globe. The 1927 Great Crash and now the 1933 recession provided the basis for an increased presence of leftist ideologies across the world. People were outraged at how 2 economic crises managed to occur not even within 1 decade apart from one and another. They began to look at Germany, at Socialist Russia and were inspired by how they managed to avoid any sort of global catastrophe. In France for example, the syndicalist CGT saw a revival in popularity and members and only just recently has it now rivaled the French regime like decades prior. It was only made worse when just after the crisis began the French departed Indochina, stripping the mainland of needed resources.

Another important impact was Mexico. Despite its liberal revolutionary victory in the Mexican Revolution, after 1927 trade unions and their influence grew in the country as did discontent with the current Mexican regime. When the government failed to respond to the 1933 recession adequately government support dropped dramatically and in 1934 the government was ousted during the nationwide elections. In its place stood Lázaro Cárdenas who became a syndicalist after Mexican repression of strikers took place in 1929. The socialization of Mexico vastly improved its living standards and economic situation which only proved to more and more people that socialism was preferable over capitalism.