Chap 35 Day 1, Aim: How did intellectual and economic life transform after WWI? Do Now- Pair/Share 1) How does the cartoonist view Communists (Reds)? 2) Why does s/he feel this way?

Loss of a Moral Compass – (?) Era of Innovation “The lost generation” (Gertrude Stein) Disillusionment after WW I Idea of Progress- done Pessimism over idea of human progress Spengler, Decline of the West “weakness” of democracy WHY? Religion discredited Friedrich Nietzsche (1844-1900) Existentialism- no meaning to life Formative years of Jean-Paul Sartre (1905-1980), Albert Camus (1913-1960)

Relativism in the Physical World Albert Einstein (1879-1955) Theory of Special Relativity Neither time nor space absolute values, vary with observer Werner Heisenberg (1901-1976) The Uncertainty Principle Concepts extended to humanities, social sciences The Soul Explained? Sigmund Freud (1856-1939) The life of the subconscious mind Repression of sexual desires, fears Interpretation of Dreams Free Association Application to mythology, religion, literature, art, etc.

Retreat from Realism in Art Photography makes realism irrelevant- WHY? Art as creation, not reproduction Retreat to abstraction Pablo Picasso (1881-1973) Influence of non-western styles

Mechanization of Architecture The Bauhaus Director: Walter Gropius (1883-1969) Form follows function Square, lifeless, but efficient Skyscrapers “glass boxes” “International Style” Loved by business, government

Single-export countries devastated by declines due to new technology European Origins of the Great Depression Austria/Germany borrow money from USA to pay war debts to France and England France, England pay debts owed to USA for WWI System dependent on flow of cash from USA Investors begin to pull out in 1928 New Technologies and the Great Depression Single-export countries devastated by declines due to new technology Reclaimed rubber destroys rubber-based economies of Dutch East Indies, Malaysia, Ceylon

Agricultural Surpluses and the Great Depression Overproduction in 1920s Strongest harvests in 1925, 1929 Wheat lowest price in 400 years Farm income drops less demand for manufactured goods inventory surpluses The Dust Bowl, mid-late 30s (blew to DC)

Black Thursday (October 24, 1929) Stock purchases on margin (borrowing)(3%) Hints of slowdown in Europe investors begin to sell Snowball effect Life savings lost Black Thursday 11 Suicides

Single-export countries – WHY? World Economic Collapse Hardest hit: countries dependent on export of manufactured goods for essentials- WHY? Japan Single-export countries – WHY? South America US Economic Collapse Inventory surplus leads to layoffs Layoffs lead to decreased demand, businesses fail 1932 industrial production ½ of 1929 levels 44% of US banks out of business Deposits lost

Laissez-faire, “planned scarcity” approaches fail New US Strategies Laissez-faire, “planned scarcity” approaches fail John Maynard Keynes, economist Stimulate economy by lowering interest rates encouraging investment, employment The New Deal of Franklin Delano Roosevelt (FDR) WWII Spending Initial Government Attempts to Increase Demand Brazil surplus of coffee beans set on fire, used to build highways – WHY? USA: “planned scarcity” Vegetables, fruits and animals destroyed WHY? Steinbeck’s The Grapes of Wrath

Famous novel of the Depression: Grapes of Wrath- about the Dust Bowl – John Steinbeck FDR- Fireside Chats on the radio - reassure Americans

Assessment How did the economy transform after World War I? Create a thesis statement for an essay on this topic. Exchange thesis statement with neighbor.