27 2 A Worldwide Depression An economic depression

27. 2 A Worldwide Depression An economic depression in the United States spread throughout the world and lasted for a decade. § Objectives § Describe the impact of World War I on postwar Europe. Trace the events that led to the financial collapse of the U. S. economy. § Analyze the worldwide effects of the Great Depression. World History B Mr. Marijanovich/Mr. Schabo

Revolution in the Arts – Artists Rebel Against Tradition https: //www. britannica. co m/art/Surrealism • Artists want to depict inner world of mind • Cubism transforms natural shapes into geometric forms • Surrealism—art movement that links dreams with real life – Composers Try New Styles https: //surrealismtoday. com/niko lina-petolas-surreal-art/ • Composers move away from traditional styles • Jazz—musical style that captures age’s new freedom Copyright © by Houghton Mifflin Harcourt Publishing Company

Postwar Europe –Unstable New Democracies • Fall of kingdoms, empires creates new democracies in Europe • People have little experience with representative government • Some form coalition governments— temporary, multi-party alliances • Frequent changes in government create instability Copyright © by Houghton Mifflin Harcourt Publishing Company

The Weimar Republic – Weimar Republic—Germany’s democratic government formed in 1919 • Government has serious weaknesses – Inflation Causes Crisis in Germany • Value of German currency falls dramatically • Many Germans questioned democratic government – Attempts at Economic Stability • American loans help revive German economy – Efforts at a Lasting Peace • Germany and France sign treaty pledging no more war • Many nations sign a similar agreement, the Kellogg-Briand pact (to not go to war with each other, didn’t work bro) Copyright © by Houghton Mifflin Harcourt Publishing Company

Financial Collapse – A Flawed U. S. Economy • Weaknesses in American economy cause serious problems • Wealth is distributed unevenly • Most people are too poor to buy goods produced • Factory owners cut back on production, lay off workers • Farmers produce more food than people can eat • Many farmers cannot repay loans and lose their land Copyright © by Houghton Mifflin Harcourt Publishing Company

Financial Collapse, cont. – The Stock Market Crashes • Stock prices soar • Many people buy stocks on credit • Investors begin selling stocks, which lowers prices • On October 29, 1929, stock market collapses as prices fall very low Copyright © by Houghton Mifflin Harcourt Publishing Company

The Great Depression • Great Depression—long business slump of 1930 s • Marked by bank failures, loss of savings, unemployment • Businesses fail, farmers lose land • By 1933, one-fourth of Americans unemployed – Isolationists Policy • U. S. turns inward due to Great Depression • Stays out of foreign affairs; focuses on economic recovery Copyright © by Houghton Mifflin Harcourt Publishing Company

The Great Depression, cont. – A Global Depression • American economic problems create problems in other countries • World trade falls sharply – Effects Throughout the World • Germany and Austria suffer greatly, as do Asia and Latin America German hyperinflation at its finest, money is used for building blocks https: //rarehistoricalphotos. com/hy perinflation-weimar-republic-1922/ Copyright © by Houghton Mifflin Harcourt Publishing Company

Break! Stand up if the answer is true, put up a thumb down if the answer is false: • Surrealism is art movement that links dreams with real life. - True • Factory owners added production which allowed businesses to hire more workers. - False (Factories cut back production, laid off workers) • The U. S. government stayed out of foreign affairs to focus on economic recovery. - True

The World Confronts the Crisis – Britain Takes Steps to Improve Its Economy • British voters elect coalition government, avoids political extremes • Government brings about slow, steady economic recovery • Preserves democracy by avoiding political extremes – France Responds to the Economic Crisis • France has more self-sufficient economy • Preserves democracy in spite of economic troubles Copyright © by Houghton Mifflin Harcourt Publishing Company

The World Confronts the Crisis, cont. – Socialist Governments Find Solutions • Public works programs help Scandinavian countries recover • Raises pensions, increases unemployment insurance, provides housing subsides • Democracy remains intact – Recovery in the United States • Herbert Hoover’s administration unsuccessful at stopping recession • Recession—period of reduced economic activity • Franklin D. Roosevelt—American president during Depression • New Deal—Roosevelt’s program of government reform to improve economy Copyright © by Houghton Mifflin Harcourt Publishing Company

The World Confronts the Crisis, cont. – Keynesian Economics • John Maynard Keynes publishes work that provides possible solution to Great Depression • Argues ways government should provide full employment: - government jobs programs - changing tax policies - modifying spending for public funding • President Roosevelt adopts Keynesian economics after recession of 1936 -37 Copyright © by Houghton Mifflin Harcourt Publishing Company What a stud! http: //content. time. com/time/covers/0, 16641, 19651231, 00. html

27. 3 Fascism Rises in Europe In response to political turmoil and economic crises, Italy and Germany turned to totalitarian dictators. § § Objectives Describe Mussolini's creation of a fascist state. § Discuss the rise of Hitler and the Nazis. Discuss how Hitler’s power extended and grew.

Fascism’s Rise in Italy • Fascism is new, militant political movement • Emphasizes nationalism and loyalty to authoritarian leader – Mussolini Takes Control • Italians want a leader who will take action • Fascist Party leader, Benito Mussolini, promises to rescue Italy • Italian king puts Mussolini in charge of government – Il Duce’s Leadership • Mussolini takes firm control of politics and economy in Italy Copyright © by Houghton Mifflin Harcourt Publishing Company

Hitler Rises to Power in Germany • Adolf Hitler—obscure political figure in 1920 s Germany – The Rise of the Nazis • Nazism—German brand of fascism • Hitler becomes Nazi leader, plots to seize national power • Mein Kampf (English = My Struggle) Hitler‘s book detailing beliefs, goals • Hitler believes that Germany needs lebensraum, or living space (they’d want to take over parts of Europe) • Germans turn to Hitler when economy collapses – The Führer is Supreme • Hitler takes control over every aspect of German life • Uses press, radio, literature, painting, and film as propaganda tools – Hitler Makes War on the Jews • Nazis deprive Jews of rights, promote violence against them • Kristallnacht (Night of the Broken Glass) signals start of eliminating Jews from German life – Hitler Becomes Chancellor • Hitler is named chancellor • Turns Germany into totalitarian state • Uses brutal tactics to eliminate enemies • Nazis take command of economy Copyright © by Houghton Mifflin Harcourt Publishing Company Via New York Post website

Other Countries Fall to Dictators • Most of eastern Europe falls to dictators • Only Czechoslovakia retains democratic government • World splits into two camps— democratic and totalitarian https: //www. pinterest. com/pin/417145984215582142/ Copyright © by Houghton Mifflin Harcourt Publishing Company