Abstract
It is during the First World War that America has really developed its industry to conquer the first place in the world, and it seems to have retained the position even till today. During times of war, European economies were destroyed and Americans developed new technologies and industries as part of the modern development era. Americans also based their life on large scale consumption and developed a new way of life with transport and communication. Several new media and technological innovation were developed that created new standards of living. One such case in point is the philosophy of Taylorism that is implemented into the plants of Ford that added new procedures like organization of work in 1908 and subsequently launched the famous Ford T. America invented the mass production and the future looked bright. As a result, America dominated economically, in the military and also politically in the world and innovation and reduction of unemployment. This spurt in growth made analysts and investors self confident. After this boom and phase of increasing growth, no one expected a crisis on the Wall Street, which led them to prepare for the Second World War. In this study, we are going to show reasons and consequences of the crisis that affected the entire world impacting political choices into those countries.
