The Interwar Years: 1919-1939
Great Depression
o America made durable goods, but soon had an issue of overproduction
o Began laying off people, and people began extracting their money from banks
o Banks loaned out too much money and couldn’t return the money
o No more investment, job loss, banks going bankrupt
o Stock market crashes
o Global effects:
America stopped international trade, other countries followed suit
Economies crashed as international trade stopped
o Keynesian Ideas
British economist John Maynard Keynes rejected the Laissez-Faire idea
Believed that everyone should spend as much money as possible
Much better for people to go bankrupt than the country going bankrupt
because countries have easier time to get loans
o Franklin D. Roosevelt
Used Keyne’s ideas to address the American Great Depression
Helped the poor and the unemployed
Government began hiring people for random jobs like building parks
across the nation
Was the president for 4 terms
Rise of Right-Wing Governments
o Fascism
, Far right party that were extreme nationalist
Thought the media was against them
Ended up being racist
Anti-unions, against other political parties
Spain, Italy, and Germany were all fascist
o Mussolini in Italy
People were against the government because they couldn’t get land after
WWI
Mussolini creates the Black Shirts, became a dictator and repressed any
opposition to his rule
Had militaristic propaganda everywhere
Adolf Hitler
o Made the Nazis famous, who told him that the Jews were bad and he believed it
o Copies Mussolini and created the Brown Shirts
o Decides to march on the government to make him leader, but gets thrown into
prison
o While in prison, writes Mein Kampf
The Aryan race is the best, Jews are the reason why things are bad
Germany shouldn’t have to pay for the war
o People like his book, gets released only after 9 months of prison
o German government uses Hitler by making him Chancellor so that he might help
them
o Blames the communists for the burning of the Reichstag
o Takes full control of Germany after the president dies
Fascism and Civil War in Spain
Great Depression
o America made durable goods, but soon had an issue of overproduction
o Began laying off people, and people began extracting their money from banks
o Banks loaned out too much money and couldn’t return the money
o No more investment, job loss, banks going bankrupt
o Stock market crashes
o Global effects:
America stopped international trade, other countries followed suit
Economies crashed as international trade stopped
o Keynesian Ideas
British economist John Maynard Keynes rejected the Laissez-Faire idea
Believed that everyone should spend as much money as possible
Much better for people to go bankrupt than the country going bankrupt
because countries have easier time to get loans
o Franklin D. Roosevelt
Used Keyne’s ideas to address the American Great Depression
Helped the poor and the unemployed
Government began hiring people for random jobs like building parks
across the nation
Was the president for 4 terms
Rise of Right-Wing Governments
o Fascism
, Far right party that were extreme nationalist
Thought the media was against them
Ended up being racist
Anti-unions, against other political parties
Spain, Italy, and Germany were all fascist
o Mussolini in Italy
People were against the government because they couldn’t get land after
WWI
Mussolini creates the Black Shirts, became a dictator and repressed any
opposition to his rule
Had militaristic propaganda everywhere
Adolf Hitler
o Made the Nazis famous, who told him that the Jews were bad and he believed it
o Copies Mussolini and created the Brown Shirts
o Decides to march on the government to make him leader, but gets thrown into
prison
o While in prison, writes Mein Kampf
The Aryan race is the best, Jews are the reason why things are bad
Germany shouldn’t have to pay for the war
o People like his book, gets released only after 9 months of prison
o German government uses Hitler by making him Chancellor so that he might help
them
o Blames the communists for the burning of the Reichstag
o Takes full control of Germany after the president dies
Fascism and Civil War in Spain
