THE “BOOMING TWENTIES” - THE BIG DEPRESSION PAGES 109-111
THE “BOOMING TWENTIES” - THE BIG DEPRESSION
PAGES 109-111
SIMILAR CRISIS TO OURS - “LIVING OVER OUR POSSIBILITIES”
“THE ROARING TWENTIES”
• 1920s, WW1 is left behind and it seems there is a real chance for peace. The feeling is that the peace is going to last.
• A generalized feeling of optimism.
• They learnt the lesson: it was impossible to repeat a horrific and terrible war like WW1 again.
• Society was becoming more advanced, and more comfortable thanks to the development of new technologies for the domestic markets (cars, planes, radios, cookers, bath-taps, etc.).
• The industrial development accelerated the consumer demand (people had money and they wanted to buy products).
A NEW POWER OUT OF EUROPE, FOR THE FIRST TIME
THE USA CENTURY
• The USA was the world’s most prosperous country.
• The perfect economic spot: cheap labor, high wages, mass production of goods.
• Billions of dollars loaned by USA to recover Europe from WW1.
• Cultural boom - jazz, art, fashion, architecture.
• The way to prove that “power” were the skyscrapers (symbol of the rise of the USA).
THE FIRST MODERN CRISIS
THE DEPRESSION
• Causes:
• 1929 (1919-1929 - the old good days turned to an end).
• Too much production = less demand (less buyers).
• Recuperation of the European economy after WW1.
• An excessive investment in shares.
• Consequences - "The Depression”.
• Wall Street Crash of 1929 - US banks tried to recover its loans from Europe; big depression in Europe; banks closed and economy collapsed.
SHARES?
CRISIS FOR DUMMIES
BASIC DICTIONARY
• Stock market.
• Share or shares.
• Buy.
• Sell.
• Floor.
• Collapse.
• Banks.
MODERN TIMES
A MOVIE RECOMMENDATION
EFFECTS OF THE DEPRESSION
PAGES 112
THE INFLUENCE OF THE FUTURE III REICH
GERMANY
• The Republic of Weimar.
• 1929-1933.
• Consequence:
• Adolf Hitler.
• National Socialism.
• “Freedom to re-arm”.
III REICH
THE INFLUENCE OVER EAST ASIA & THE PACIFIC OCEAN
JAPAN
• E c o n o m i c a l & p o l i t i c a l influence on the area.
• The need to expand their economy to sell their own products.
• 1932: invasion of Manchuria (China).
THE FASCISM’S GROWTH
ITALY
• Mussolini.
• Distract.
• Economic problems.
• Increasing power abroad.
• Goal: a new Roman Empire.
• “Napoleon” = emperor.
ROMAN EMPIRE
ITALY (1940-1943)
KEEPING THE STAKES HIGH
GREAT BRITAIN
• 3 mil l ion of unemployed brought the appearance of fascists groups.
• Democracy “survived”.
BRITISH UNION OF FASCISTS
THE BLACKSHIRTS
A COUNTRY DIVIDED
FRANCE
• Depression brought hit later in France.
• B u t , s a m e e c o n o m i c a l principles.
• Border tension with Germany.
• L i k e i n E n g l a n d , m a n y internal tensions with several extremist groups.
PHILIPPE PÉTAIN
ALWAYS LATE, LOSING TRACK OF WORLDWIDE EVENTS
SPAIN
• Many difficulties.
• Two dictatorships:
• 1923-1930.
• 1936-1975.
• Republic:
• 1931-1936.
• Monarchy:
• Until 1923.
ALFONSO XIII
1902-1923
PRIMO DE RIVERA
1923-1930 FIRST DICTATORSHIP
N I C E T O A L C A L Á ZAMORA
1931-1936 PRESIDENT REPUBLIC
MANUEL ARAÑA
1936-1939 PRESIDENT CIVIL WAR
FRANCO
1936-1975 SECOND DICTATORSHIPS
STARTING A NEW ERA, THE CAPITALISM
USA
• 13 millions of unemployed.
• Franklin Delano Roosevelt took the lead for Democrats.
• “New Deal”.
• Economy recovered.
• US economy marked the path for the rest of the world.
THE THEORY VERSUS THE PRACTICE
THE SOVIET UNION
• Lenin’s death in 1924.
• New leader: Joseph Stalin.
• Two facts:
• Cruel dictatorship.
• Began industrialization.
• By 1936, a world major power.
J O S E P H STALIN