World economic crisis and crisis of the Weimar Republic

Weltwirtschaftskrise und Ende der Republik, 1929-1932

World economic crisis and crisis of the Weimar Republic

The stock market crash in New York on 24 October 1929 heralded the end of the Weimar Republic. The "Black Friday" ("Black Thursday" in America) causes the global economic crisis and hits Germany in the market. Foreign capital, which has financed the upswing of recent years, is hardly available any more, and the scarcity of capital leads to a comprehensive economic crisis. A hitherto unknown mass unemployment overtaxes the social system, while the political system also falls into crisis. The Grand Coalition is broken. Under the presidential cabinets the parliament is abolished so to speak and the Reich Chancellors govern without the required majority of parliament due to the delegated powers of the Reich President.