The October 1929 stock market crash in New York City plunged the United States and the world into the greatest depression of the 20th century. In fact, even if the globalization of trade was not as developed as it is today, the shock wave has spread to the majority of the industrial powers, including Great Britain and Germany. An explosion which will lead to the world war of 1939-1945 ... But in 1929, France, whose economy is flourishing, is spared. Considering itself an “island of prosperity” , it will remain a spectator of the crisis for two years.
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This exception is linked to the country's “archaic” economy . "France lived somewhat on the fringes of great world capitalism" , explain Serge Berstein and Pierre Milza, in Histoire du monde de 1900 à nos jours (Éditions Hatier). The economic fabric is therefore essentially made up of family SMEs with little international focus. “The country was also less dependent than Great Britain or Germany on
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