CRISES IN THE CAPITALIST SYSTEM
CRISIS:These are the conflicts and problems, which upset the capitalist production mainly in Europe andi the colonies especially in Africa and Asia.
Term crisis refers to a time of great danger, difficulty or confusion when problems must be solved or important decisions must be made or a time when a problem, a bad situation is at its worst point.
These capitalist crises were
1. The First World War or the Great War (WW I)
2. The Great Economic Depression
3. The Second World War (WW II).
1. THE FIRST WORLD WAR.
The German philosopher Ernst Haeckel first used the term First World War in September 1914. It was generally a global war mostly centered in Europe that began as dated above. It was one ofthe deadliest conflicts in history paving the way to major political changes including revolutions in many nations involved.
The trigger for the war was the assassination of Archduke Franz Ferdinand the heir to the throne of Austria-Hungary and his lovelywife Sophie at Sarajevo, the capital city of Bosnia on Sunday 28th June 1914 by a Serbian member of the terrorist group called the Black Hand Gavrilo Princip
THE TREND OF THE WAR
The assassination of Ferdinand setoff diplomatic crisis between Austria-Hungary and Serbia becausef days later AustriaHungary government gave Ultimatum to Serbia to submit the assassin but Serbia refused.
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