2. United States: World War I Statistics
• # of causalities:
– approximately 323,018
• Cost of war:
– Approximately $32 billion
The wars end bought widespread disillusionment in the
early 1930s and the belief that the United States had
been drawn into the war through loans and trade with
the Allies. The media blamed bankers & munitions
(weapons) companies for the war.
3. Foreign Policy
• a policy pursued by a nation in its
dealings with other nations, designed to
achieve national objectives.
-Examples: The Monroe Doctrine, Roosevelt Corollary, Neutrality
Acts, Lead Lease Act, Munich Pact, Good Neighbor policy, Truman
Doctrine, Big Stick diplomacy, Marshall Plan
4. Isolationism
a policy of
remaining apart
from the political
affairs and
interest of other
countries.
Internationalism
a political
principle which
supports a greater
political or
economic
cooperation
among nations
and peoples.
7. Neutrality Acts
Congress enacted the Neutrality Acts, as follows:
• No sale or shipment of arms to belligerents
• No loans or credits to belligerents
• No travel by U.S. citizens on belligerents' ships
– Neutrality Acts 1939
• Purchase of nonmilitary goods by belligerents to be
paid in cash and transported in their own ships
(cash-and-carry)
• Purpose: to limit U.S. involvement in future wars
8. Lend-Lease Act 1941
• Ended U.S. neutrality!
• The U.S. committed huge
economic resources to
fighting [against]
Germany.
–Becomes “arsenal of
democracy”
Editor's Notes
What takes America out of the great depression? World War II
The three types of economic resources are commonly known as human resources, natural resources and capital resources. Economists often refer to these three resources as the factors of production.