instability after ww1

  • lots of problems the league of nations couldn’t handle
    • lots of compromises that left a lot of countries unhappy
  • us senate didn’t ratify the treaty of versailles, which meant they couldn’t join the league.
    • americans didn’t want to be involved with european affairs
    • league was weaker w/out the us
  • german government paid its first payment of reparations in 1921, a financial crisis immediately followed
    • german government announced it couldn’t pay any more
    • france sent troops to collect anyway
  • workers went on strike following french occupation
    • government paid them by printing more marks
    • massive inflation: german mark was now worthless
  • dawes plan briefly saves the day
    • reduced reparations
    • annual payments were based on german ability to pay
    • $200 million loan to germany, opening door for american investing in europe
    • very short prosperity in europe
  • foreign ministers of germany and france sign the treaty of locarno (1925)
    • guaranteed german borders w/france and belgium
    • viewed as beginning of peace
  • kellogg-briand pact (1928)
    • signed by 65 countries
    • pledged to renounce war
    • no one said what would happen if someone went against the pact
  • great depression (1924)
    • overproduction of wheat led to collapsed prices (farmers hit hardest/first)
    • coal slump due to expanded use of oil and hydroelectric power
    • us stock market boomed, which led investors to pull out of germany
    • us stock market subsequently crashed, they withdrew more funds, trade slowed
  • governments made it worse
    • raised tariffs to exclude foreign goods from markets
    • increased government presence in economies
    • people were more likely to follow politicians who made promises to end the crisis (leading to more dictatorships)
  • weimar republic (german state after the fall of imperial germany)
    • lots of economic problems- runaway inflation, loss of life savings
    • tons of unemployment: lots of fear, rise of extremist parties
  • france
    • more balanced economy: didn’t really feel the effects until 1932
    • formed six different cabinets in 19 months- the one that stuck was the popular front (socialists, communists, and radicals)
    • created the french new deal- unions could negotiate salaries/hours, 40 hour workweek, and a minimum wage
  • great britain
    • labour party failed to solve the problem, fell from power in 1931
    • new conservative government claimed credit for bringing britain out of the depression using tardiffs/balanced budgets
    • ignored john maynard keynes (british economist, believed unemployment came from decline in demand, not overproduction). he said governments should create jobs through deficit spending (if necessary).
  • united states (affected the most)
    • over 12 million unemployed
    • roosevelt elected by a landslide, created the new deal
    • established the wpa (creating jobs), social security act (supporting old people)
    • still tons of unemployed who only got jobs through ww2
  • arts and sciences (this doesn’t make sense, so why should art?)
    • dadaism- life has no purpose
    • surrealism (more important)- portraying the unconscious to show that there’s more than physical experiences
    • “heroic age of physics”- rev started prewar by einstein continued, brought in the uncertainty principle