1. After WWI
Kellogg-Briand Pact – signed by the U.S., along with 60 other nations
This treaty outlawed war.
No plans on how to keep the peace or how to punish a country that declared war on another.

2. The League of Nations is created.
40 nations join
Goal: Negotiate disputes rather than resorting to war.
U.S. does not join. Resorts to isolationism

3. War is Hell 8.5 million soldiers died during WWI.
Twice as many were wounded, many disabled.
Est. 13 million civilians died as a result as well.
Historians estimate million people died or wounded from WWI

4. War is Hell
Fragments of an explosive bullet extracted from the wound of a soldier in

5. In Flanders Fields the poppies blow  Between the crosses row on row,  That mark our place; and in the sky  The larks, still bravely singing, fly  Scarce heard amid the guns below.
We are the Dead. Short days ago  We lived, felt dawn, saw sunset glow,  Loved and were loved, and now we lie  In Flanders fields.
Take up our quarrel with the foe:  To you from failing hands we throw  The torch; be yours to hold it high.  If ye break faith with us who die  We shall not sleep, though poppies grow  In Flanders fields.

6. United Kingdom (Britain)
The Representation of the People Act (1918) gave the vote all men over the age of 21
and to women over the age of 30.
Qualified voters rose, from 7.7 million to million.
Celebration in Traffalger Square, London.

7. Unemployment in 1921 reached its highest point (11.3%)
Working women were forced to give up their jobs to returning soldiers.

8. As more Deutschmark were made the value began to decline.
Germany
As a result of the treaty of Versailles the German Gov’t. began printing money to repay the allies.
As more Deutschmark were made the value began to decline.
Hyper-Inflation

9. Supply and demand
A 1964 GI Joe in good condition is relatively scarce. This one is for sale on Ebay for $350.00
In “good” condition. + =
GI Joe Action Figure (1964 ) + =
Demand
Supply
Price

10. Supply and demand
No scarcity and no demand. Therefore, this pile of dirt is virtually worthless.
Available almost everywhere. + =
A small pile of dirt. + =
Demand
Supply
Price

11. Foreshadow
Hoover
“The economics consequences alone will pull down all of Europe and thus injure the United States.”