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American Big Business in Britain and GermanyA Comparative History of Two "Special Relationships" in the 20th Century$
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Volker R. Berghahn

Print publication date: 2014

Print ISBN-13: 9780691161099

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691161099.001.0001

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The North Atlantic Triangle

The North Atlantic Triangle

Economic Reconstruction and Collapse, 1923–1933

Chapter:
(p.160) IV The North Atlantic Triangle
Source:
American Big Business in Britain and Germany
Author(s):

Volker R. Berghahn

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691161099.003.0005

This chapter deals with the period between the 1923 economic crisis and an even more severe economic breakdown in 1929. This period saw an engagement of the United States in Europe that had not been possible in the immediate postwar years, generating a few years of relative stability and prosperity in which American manufacturing companies and banks played a major role. It was the phase in which the United States succeeded in deploying its superior industrial and financial power in an attempt to uplift the economies of Europe. During those five years it was not only American ideas and practices of rationalized mass production that came to Europe through massive foreign direct investments; rather Europe, again for the first time, got a taste of mass consumption, even if it was still quite limited in terms of affordable consumer durables.

Keywords:   North Atlantic Triangle, economic reconstruction, economic collapse, economic crises, American manufacturing companies, American banks, European economy, mass production, mass consumption

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