Podcast
Questions and Answers
What is a characteristic of a healthy democracy?
What is a characteristic of a healthy democracy?
- A peaceful transfer of power (correct)
- A strong centralized government
- A limited middle class
- A fixed economy
What is the consequence of a small percentage of the population owning a large percentage of the wealth?
What is the consequence of a small percentage of the population owning a large percentage of the wealth?
- Less people buying things (correct)
- No effect on the economy
- More people buying things
- A more stable economy
What is the relationship between farming methods and crop prices?
What is the relationship between farming methods and crop prices?
- Better farming methods lead to lower crop prices (correct)
- Crop prices are fixed regardless of farming methods
- Farming methods have no effect on crop prices
- Better farming methods lead to higher crop prices
What is the Economic Triangle of Doom related to?
What is the Economic Triangle of Doom related to?
What was a key component of Roosevelt's New Deal?
What was a key component of Roosevelt's New Deal?
What was a common strategy used by European countries to boost their economies during the Great Depression?
What was a common strategy used by European countries to boost their economies during the Great Depression?
What was the consequence of China's lack of territorial gains from World War I?
What was the consequence of China's lack of territorial gains from World War I?
Who helped found the Chinese Communist Party and developed his own brand of communism?
Who helped found the Chinese Communist Party and developed his own brand of communism?
Which factor directly contributed to the rise of fascism, Nazism, and totalitarianism?
Which factor directly contributed to the rise of fascism, Nazism, and totalitarianism?
What was Germany's solution to pay off its debt post-World War I?
What was Germany's solution to pay off its debt post-World War I?
What was the primary goal of the Dawes Plan?
What was the primary goal of the Dawes Plan?
By what factor did the price of a loaf of bread in Germany increase from 1918 to 1923?
By what factor did the price of a loaf of bread in Germany increase from 1918 to 1923?
What major event in August 1929 severely impacted the world economy?
What major event in August 1929 severely impacted the world economy?
How many times more fatalities were attributed to the Spanish Flu compared to World War I?
How many times more fatalities were attributed to the Spanish Flu compared to World War I?
Why did early democracies in the 1930s struggle to maintain stability?
Why did early democracies in the 1930s struggle to maintain stability?
Study Notes
Interwar Period
- Upset countries after Treaty of Versailles: Japan, Italy, Germany, and Russia felt cheated
- Great Depression: People were unemployed and had no money
- Rise of Fascism, Nazism, and Totalitarianism due to fall of democracies
- Fascist aggression and failure to stop it led to the lesson of the 1930s
Spanish Flu
- Killed 5 times as many people as World War I
- Indiscriminate and unpredictable, unlike most of life which is predictable
- Led to the rise of Expressionism as an art movement
Economic Challenges
- Governments need money: bonds, printing money, taxes, allied loans, tariffs, and selling goods
- Printing money causes inflation, reducing the value of currency
- Germany's hyperinflation: 1 loaf of bread cost 2 marks in 1918, but 20,000,000,000 marks in 1923, rendering life savings useless
Dawes Plan
- Stabilize Germany's economy with US money
- Prevent social and political instability in Germany
- A stable Germany would buy US products, benefiting the US economy
The Great Depression (August 1929)
- US produced over 50% of the world's goods, making the global economy dependent on the US
- Early democracies were fragile, and people were unhappy, making them prone to dictatorship
- 5% of the population owned 33% of the wealth, reducing consumption and production
- Farming improvements led to overproduction, debt, and bank failures
- Stock market crashes and margin buying exacerbated the crisis
Economic Responses
- Britain: Devalued currency, spent on welfare, and lowered interest rates
- France: Devalued currency, invested in public works, and pursued trade agreements
- USA: Invested in public works, welfare, and reformed the banking system
- Scandinavian countries: Invested in public works, welfare, and devalued currency
Chinese and Japanese History
- Qing Dynasty: Overthrown in 1911, leading to Sun Yat-sen's Three Principles of the People
- Communist Party: Founded by Mao Zedong, who developed his own brand of communism
- China was outraged by the Treaty of Versailles, not receiving any land after World War I
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Description
This quiz covers the post-WW1 events that led to the rise of fascist and totalitarian regimes, including the Treaty of Versailles, the Great Depression, and the failure to stop fascist aggression. Also, explore the impact of the Spanish Flu on society.
