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Notes on video lecture:
1929 Economic Collapse
Notes taken by Edward Tanguay on January 27, 2019 (go to class or lectures)
Choose from these words to fill the blanks below:
global, Lenin, hyperinflation, Anstalt, vulnerable, 1929, mature, exchange, mistakes, China, Europe, capital, lending, export, Germany, old, Victorian, nationalistic, war, Smoot
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the Treaty of Versailles produced an unstable             
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a goal of it was the rebuilding of a              economy
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but many focused on establishing the economic world as it had existed before the       
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the idea was that restoring the                    boom was a condition for the political peace
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people looking for new coordinates began to be nostalgic for the        world
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it was the crash of          that would heighten the tensions within Europe
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but the big question in 1919 was: how to rebuild
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while Wilson and            were looking forwards towards utopias, the economists and business people were looking backwards
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Keynes argued that the Allies had made some fundamental                 
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that Germany pay far too much in indemnity payments
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that British economy could not sustain the &gold& standard
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and Keynes argued that we needed
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flexible foreign                  rates
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capital controls that would control money across borders
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so that countries would not have to turn to                            policies
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Keynes saw this as the folly of the ruling classes
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end the end, the crisis finally came, in 1929
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but there was a pause for recovery in the 1920s
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had less to do with the gold standard
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had more to do with massive American                to Europe
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flow of                to the United States
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the largest borrower was               , to pay the other European countries
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the United States was an immature lender
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one that enjoys both trade surpluses and is an exporter of capital
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gold flows in
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the only way to keep the rest of the world expanding was to recirculate money to other destinations
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it was a                      system
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as            is now
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Britain before the war was a              lender
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the rest of the world was borrowing too much money
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Germany had just recovered somewhat from the                              of 1923-1924
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German and Austrian banks began to fail
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they needed emergency loans from the United States
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then came the crash on Wall Street in 1929
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Vienna: The Credit               
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a virus of bank failures across Europe
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governments were too weak save them
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1931 almost everyone had defected from the gold standard
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1933 the United State joined getting off the gold standard
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the world economy had lost its core
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increasing protectionism
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Reed            / Willis Hawley
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Smoot-Hawley Tariff
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over 1000 economists signed an petition to denounce this
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shrinkage in global trade
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1928 world only reached 112%
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in 1932 it was only 60% of 1929
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factories shut down since they couldn't              to other markets
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1932 there were 52 million workers were without a job
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a destruction of the global system that had built up over centuries
Columbus and the New World
1500-1700 Indian Ocean Trading system
Da Gama, Pepper and World History
Portuguese Indian Ocean Empire
16th Century Colonialism Fueling European Violence
Global Food: European Sugar, Caribbean Plantations, African Slaves
16th and 17th Century Merchant Trading Companies
17th Century Interdependence of Trade and Investment
Francis Drake and Mercantilist Wars
The Apex and Erosion of the Mughal Empire
The Treaty of Westphalia as the Hinge of Modern History
The Influence of Silver on the Ming Dynasty
Political Reverberations of Ming Consolidation
18th China Resurgent as Qing Dynasty
18th Century Tea Trade, Leisure Time, and the Spread of Knowledge
Cook and Clive: Discoverers, Collectors and Conquerors of the Enlightenment
Strains on the Universality of the Enlightenment
The Enlightenment, Empire, and Colonization: Burke vs. Hastings
Enlightenment or Empire
18th Century Land Grabbing
The Industrial Revolution and the Transition of Non-Renewable Energy
The Seven Years' War and Colonial Revolutions
Napoleon, Spain, the Colonies, and Imperial Crises
Human Rights and the Meaning of Membership within Societies
Napoleon, New Nations, and Total War
The Ottoman Empire's 19th Century Tanzimat Reform
The Early 19th Century Market Revolution
The Global Upheavals of the Mid-19th Century
The Train, the Rifle, and the Industrial Revolution
Transition in India: Last of the Mughals
The Indian Rebellion of 1857 and Its Ramifications
Darwin's Effect on 19th Century Ideas
Factors Which Led to the Solidifying of Nation States
1868 Japan: The Meiji Restoration
1871: Germany Becomes a Nation
North American Nation-Building
19th Century Changing Concepts of Labor
The Benefits of Comparative Advantage
Migration after the Age of Revolutions
Creating 19th Century Global Free Trade
The Expanding 19th Century Capitalist System
The Second Industrial Revolution
The Closing of the American Frontier
Africa's Second Imperial Wave
Early 20th Century American Imperialism
1894-1905: Japan's Imperial Wave in Asia
Rashid Rida and 19th Century Islamic Modernization
19th Century Pan-Islam and Zionism Movements
19th Century Global Export-Led Growth
Indian Wars and Mass Slaughter of Bison
The Suez Canal's Effect on the Malayan Tiger
1890-1914: Savage Wars of Peace
1900-1909: Russian and Turkish Dynasties
1899-1911 The End of the Qing Dynasty
The 1910 Mexican Revolution
The Panic of 1907
Turn-of-the-Century Civilization and its Discontents
20th Century Questioning of Reason
Late 19th Century Anxieties of Race
The First World War
The End of WWI and the Attempt at Global Peace
The Influenza Pandemic of 1918-1919
The Wilson-Lenin Moment
1919 Self-Determination Movements in India
Post-WWI European Peace and Global Colonial Upheaval
1929 Economic Collapse
Changes in Capitalism between the Wars