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