AP Words 4/5 1.Decolonization 2.Economic Nationalism 3.“Brain Drain” 4.European Steel and Coal Community 5.Managerial Class 6.Common Market 7.Josip Tito 8.Ho Chi Minh 9.Mahatma Gandhi 10.Leonid Brezhnev 11.Welfare State 12.Social Democrats 13.Christian Democrats 14.Nationalized Industries 15.Clement Attlee 16.IRA
Cold War Economics
Economic Growth in W. Euro Economic miracle –Currency reformed 1948 –Marshall Plan –Economic opportunities of Korean War Prosperity Rising living standards “silver 50s” and “golden 60s”
Western Euro Thrives On Capitalist Competitive Free market Private enterprise
Success of Marshall Plan Encourage economic unity among western European nations Reduced communist influence Promoted strong economic recovery
Economic Planning & Govt Intervention Social services Keynes’s theories dominated govt policies Govts watched economy –Used monetary powers to promote Promote investments Production Employment Control inflation –When businesses lagged – they increased govt spending
Nationalized Industries Communist trait But West Euro did this too!! ie – Egypt nationalizes Suez Canal
Immigration Labor shortage b/c of war West Germany (& other countries) invited people in –S. Italian, Turks, Greeks, Yugoslavs, Spain, Portugal Immigrants from former colonies arrived Political refugees New Europeans – new races –Led to friction
Collapse of Colonies Imperial decline –Nationalism –Reduced power of Europe b/c of WWII India and China –Gandhi – gain independence India split into two countries Pakistan – Muslim India – Hindu Arab nationalism –Spurred by creation of Jewish homeland – Israel –Egypt – new leader – Nasser Nationalizes Suez Canal African independence
Growth of Welfare State Immigrants + baby boom = population grew 25% from People stopped having a lot of kids in the 60s –Population starts decreasing
Political Reconstruction Fueled by memories of post WWI Liberal democracy not enough Ideas –Welfare state –Integrated Europe –Socialist = Social Democrats –Communists parties in France and Italy –Christian Democrats Inspired by Roman Catholic religious and ethical precepts
GB: Labour & Conservative 1 st election in 10yrs July 1945 Churchill out and conservatives in Labour govt in –Clement Attlee MP
Labour Govt Parliamentary socialism Modern welfare state Nationalized –Bank of England –Coal mines –Electricity and gas –Iron and steel 4/5 economy still private Brits have mixed economy
Social Insurance Labour increased Insurance coverage for –Unemployed –Old age –And other contingencies National health services Increased income and inheritance taxes
Britain Economically Weak WWII had –Liquidated its investments –Lost export markets –Reduced income from shipping Industry outstripped –Its economy grew more slowly than Euro and Japan
Northern Ireland Partitioned 1922 Protestant = part of UK Catholic minority –Protested militantly –Felt like victims Politically Economically discriminated against –Wanted to join Republic of Ireland Violence breaks out 1969