What role did the Great Depression have on the U.S.'s approach to foreign policy
The Great Depression had a significant impact on the U.S.'s approach to foreign policy. Here are some key aspects:
1. Isolationism: The economic crisis of the Great Depression fueled a sentiment of isolationism among the American public. Many believed that the U.S. should focus on addressing domestic issues and avoid involvement in international affairs.
2. Protectionism: In response to the economic downturn, the U.S. government implemented protectionist policies, such as higher tariffs, to shield American industries from foreign competition. These policies further reinforced the isolationist approach and reduced international economic cooperation.
3. Retreat from international commitments: The Great Depression caused a retreat from international commitments and a reduction in foreign aid. The U.S. scaled back its involvement in global organizations like the League of Nations, as well as its financial assistance to other countries.
4. Neutrality: The U.S. adopted a policy of strict neutrality during the early years of World War II, largely influenced by the lessons learned during the Great Depression. The memory of the costs of the First World War, combined with domestic challenges, made the U.S. reluctant to get involved in another global conflict.
5. Reevaluation of global economic relations: The Great Depression led to a reevaluation of global economic relations and the recognition of the need for increased economic cooperation. This eventually paved the way for greater international economic cooperation with the establishment of the Bretton Woods system and the creation of institutions like the International Monetary Fund and the World Bank.
Overall, the Great Depression had a profound impact on the U.S.'s approach to foreign policy, leading to a period of isolationism, protectionism, and a cautious stance towards international involvement.