2. THE GREAT DEPRESSION *The Great Depression was the time in which the American economy dramatically descended during the 1920’s *It lasted for many years until the beginning of World War II in 1939. *It is believed that the Great Depression started with the crisis of the New York Stock Exchange of October 29, 1929. *There is no doubt that this event was a devastating impact for the American nation. *“Between 1929 and 1933 over 11,000 American banks failed, and almost every person was unemployed.” *There were stronger central governments as a result of the Depression.
3. *Herbert Hoover was a Republican president of the U.S elected in 1928. *The “trade cycle” of boom and slump was common in the 19th Century. *The world economy, technology and globalization increased since the Industrial Revolution. *Globalization stopped advancing during the years of war. *The United States experienced a huge amount of migrants before the years of war and Great Depression. *Prices collapsed everywhere. *The years of 1932 and 1933 are said to be the worst period of the slump. *According to historical records this has been the worst economic catastrophe in the world.
4. *Incredible lack of social security and unemployment relief. *”When world trade fell by 60% states found themselves building high barriers to protect their national markets.” *Economic liberalism was also affected by The Great Depression. *Priority on social considerations rather than economic considerations in state policies. *John Maynard Keynes (1883-1946) was a British economist during this time. *As a consequence of the Great Depression, installation of welfare systems had to be implemented.
5. *The United States was the largest economy nation in the world by 1913 *The United States gained not only the popularity of being the world’s greatest industrial producer, it turned to be the world’s greatest creditor after war. *Some countries of the Americas ended up being worldwide lenders. *When The Great Depression arrived, the U.S’s exports severely decreased. *Periodic crisis and settlements under American patronage.
6. *According to the author of the second article, “The U.S. did not much need the rest of the world.” *“The second perspective on the Great Depression fixes on the failure of the world economy to generate enough demand for lasting expansion.” *The fundamentals of success of the 1920’s were not stable. *“The Great Depression confirmed activists, intellectuals and ordinary citizens in the belief that something was fundamentally wrong with the world they live in.” *J.M. Keynes became the most influential economist during that time. *The Great Depression was a catastrophe that destroyed people’s hope.
7. World war II *The war started in 1939 and reached America in 1941. *Mobilization for war ended the Great Depression. *The World War II ended the American isolation. *Japan ended up being the world’s economic and political center and rival of America. *David Dimbleby and David Reynolds were the authors of the first essay. *Adolf Hitler, the Nazi leader of Germany played an important role. *At the beginning of war, President Roosevelt declared the nation neutral.
8. *Although the U.S. remained neutral, it permitted the sale of arms and provisions to England in a “cash-and-carry” basis. *There is people who believe that World War II could have been avoided. *Adolf Hitler came to power in 1933. *An important allied of Adolf Hitler and his Nazi movement was the Italian dictator Mussolini. *President Roosevelt considered that he could use the U.S influences to maintain peace. *The U.S. didn’t want to get involved into world affairs due to the big problems caused by the Great Depression.
9. *Neville Chamberlain became the Prime Minister in May 1937. *He tried to talk to Hitler and Mussolini to come up with an agreement. *Meanwhile the American trade still was declining. *August 31, 1939 Hitler invaded Poland and three days later Britain and France declared war. *The Phony War: period of inactivity. *Winston Churchill requested President Roosevelt’s help. *Roosevelt wanted, “ninety-nine year leases on eight British possessions in the Americas to build air and naval bases” in exchange of America’s help. *Churchill had no other option but to accept Roosevelt’s offer. *Many American people didn’t want to get involved in Britain’ war.
10. *America declared war on Japan and Hitler declared war on America. *Japan attacked the Pearl Harbor in December 1941. *”Japanese were looked upon as something subhuman an repulsive, the way people feel about cockroaches of mice.” *No one expected the attack and power of Japanese *Japanese people always suffered of discrimination and racism. *The genocide of Jews by Hitler was a perfect example of racism. *Japanese were looked up as subhuman. *”They were little men inferior to white.”
11. *Japanese were considered primitive, childish and mad. *Sometimes they were portrayed as supermen. *Japanese became the nightmare came true for its enemy nations thanks to their attacks in World War II. *Before the attack on Pearl Harbor, people tended to think that Japanese could not shoot, sail or fly. *Everybody underestimated the Japanese’s capacity to keep fighting and the damage they could provide. *August 1945 Japan was surrounded. *Japan appeared three decades later as an economic superpower.
