Features of the economic crisis in the 30s of the 20th century in the United States and Spain.

The economy of the state is based on a balance between production and demand for manufactured products. The uncontrolled growth of mass production of goods threatens a large accumulation of these goods. Sales markets are overflowing with goods for which demand falls. This leads to the dismissal of workers in factories and factories, a decrease in wages, loss of profits for producers or bankruptcy of enterprises. In the 30s of the twentieth century in the United States there was an economic crisis caused by an excess of unregulated production of goods and the absence of an additional sales market. The Great Depression began in the United States.

By the end of the 19th century, Spain had lost all of its overseas colonies. This has become an important factor in the development of the country’s economy. At the beginning of the 20th century, Spain was struck by a political crisis. The state needed reforms:
1. Elimination of the monarchical system and the establishment of republican power.
2. Reforming the agrarian system.
3. Separation of the Catholic Church from public affairs.
4. Solution of the issue of national minorities.
Only by solving these problems would the authorities have stabilized the situation in the country. The economic crisis has further exposed all the existing problems of Spanish society. The strike movement was gaining strength. The owners of big business demanded the expansion of the powers of the Cortes. In April 1931, the monarchy was overthrown and power in Spain passed to the Republican Party. The new government has carried out a number of reforms:
1. Confiscation of land from large landowners.
2. Reducing taxes.
3. Partial solution of the national question. Catalonia received limited autonomy.
4. Adoption of the law on eight-hour working day and on state social insurance.