Lecture 4 - Another War and its Legacy (6 pages)

Previewing pages 1, 2 of actual document. View the full content.
View Full Document

Lecture 4 - Another War and its Legacy



Previewing pages 1, 2 of actual document.

View the full content.
View Full Document
View Full Document

Lecture 4 - Another War and its Legacy

404 views


Lecture number:
4
Pages:
6
School:
University of Southern California
Course:
Ir 369 - Contemporary European International Relations

Unformatted text preview:

another world war and its legacy Time between world wars Russia Hardliners took control and it became the USSR Western central Europe rise of fascism o Hitler Nazism Ruins in France Germany disrupted normal patterns of trade 1920s radio movies credit phones vacations people began to enjoy themselves for the first time because of end of Great War o illusion was easy to keep up until stock market crash Great Depression Black Thursday Oct 24 1929 By oct 29 1929 all of 1929s profits had vanished By end of November 1928s profits were gone By summer of 1930 1927s profits were gone Market hit bottom on June 8 1932 50 Not able to understand fully why or predict downturns in econ CAUSES of Great Depression o Very uneven distribution of income in 1920 with workers and farmers sharing less in the prosperity o Thereby reducing consumer purchasing power forcing industries like auto and construction to reduce production o Imbalances in monetary tariff and federal tax policies little consumer protection Tariff increase foreign good prices to make domestic products more competitive o Federal reserve tightened rather than loosened credit o High tariff barriers o Some signs of improvement in 1931 but by then consumers and investors were refusing to spend as size of econ declined 50 size of private investment declined 95 o Banking collapses followed Happened again today o Inept response from white house o Prices were rising throughout the day bread more at night then in morning Franklin Delano Roosevelt 32nd president of US 1933 45 elected to 4 terms Had polio in wheel chair as president but concealed it from American public First lady Eleanor Roosevelt of bank failures on day of his inauguration o started bank holiday immediately and it prevented further bank faulires bc during that day he infused money from federal funds into banks signed social security Glass steagall act o protect banks banks had to separate personal deposits and speculative investing so you wouldn t lose personal



View Full Document

Access the best Study Guides, Lecture Notes and Practice Exams

Loading Unlocking...
Login

Join to view Lecture 4 - Another War and its Legacy and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Lecture 4 - Another War and its Legacy and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?