During the Interwar Period (1919-1939), many countries around the world underwent many ideological changes. Prior to World War I, imperial competition amongst the European countries led to patterns of constitutional and ethnolinguistic nationalism and patterns of industrialization. Members of a Bosnian Serb nationalist group assassinated Austrian heir Franz Ferdinand, which became the catalyst for the first World War that would last until 1919. With 20 million soldiers and civilians dead and another 21 million wounded, the countries looked for ways to recover from the results of the war. Three new patterns of modernity emerged after World War I; Capitalist democracy, Communism, and Supremist Nationalism.
Capitalist democracy is best described by Harding’s United States campaign slogan for presidency, “Less government in business and more business in government.” (865). United States emerged from the war as the strongest among the allied countries. Their economy sustained as they shifted from production of military supplies to the Allied European countries to creating radios, telephones, and cars as Americans moved from rural living to the city. The roaring twenties began as people started to borrow money for such commodities and investments from banks with little money down. On the other hand, Britain changed its economy from state control during the war back to market capitalism while industry was still a leading role (869). Britain owed a war debt to the United States, which they could only repay if Germany was consistent with paying its reparations. Restructuring of Germany’s debts under the Dawes Plan of 1924, stabilized the international capital markets. Meanwhile, France had suffered devastating human losses and destruction of property during the war (869). With the increase of taxes and continuous reparations paid by Germany, France was able to reconstruct itself by 1929.
Due to falling profit rates in commodities, investors in the late 1920s had “begun to shift their money from investments in manufacturing to speculation on the stock market” (868). In October 1929, speculators panicked and began selling their stocks for pennies on the dollar (868). Farmers who used the borrowed money to
During WWI, government subsidies expanded the production scope of many farms beyond what could otherwise be supported, for the war effort. This led to farms reliant on subsidies to cover the costs of their farm in the preceding years. Coupled with increased reliance on credit to buy new machines in the roaring 20’s, the economy was inflated to the point where a credit uncertainty in one market (the infamous black friday stock market crash) caused the entire economy to falter, shedding millions of dollars of value over the next 3 years. However, the people who felt it most keenly weren’t the stock market investors- the market reclaimed most of its value within a year, yet jobs were still scarce, and the economy didn’t really begin to regain lost power until WWII. During the time period of the book,though, that wasn’t to come for another 6-10 years. Until then, not much could be done to ameliorate their
During the 1920s Wall Street was representing the decade of expanding economic opportunity for every American. During 1927 some American banks failed due to bad investments and low prices for agricultural products. On Thursday October 1929 American stock market failed and millions of investors are plunged into bankruptcy. Over 12,894,650 shares changed hands, many at fire. About two months after the crash in October, stockholders had lost more than $40 billion dollars. The slump was made worse by the share-buying fever that infected the country in the 1920s. Everyone wanted to make quick fortunes, therefore they bought company shares on margin. Competitive buying of the shares drove share prices high above their actual value. Then, when cautious
Yet it wasn’t a change that could have been made overnight. Once the Stock Market Crash in October 1929, the collapse in industrial production and the financial crisis of 1931 led to a great depth depression in agriculture and more in industrial production (Kindleberger 70). There is without a doubt that were having difficulties prior to the Stock Market Crash, with falling prices, rising stocks, inability to sustain borrowing, and the necessity to maintain debt service (91). To begin with, farm debt was serious that the total farm mortgages in the United States had risen from $3.3 billion in 1910 to $6.7 billion in 1920 and $9.4 billion in 1925 (84). National agricultural policies attempted to reduce production of certain crops and animals products, though the initial motivation was to raise prices, increase farm income and stimulate the depression economy (Hornbeck 1480).
The 1920’s was known as the time for the stockholder stock prices, since they soared through the roof and reached new levels and created Millionaires overnight. This time period was marked as a large growth with the stock values being high, in 1925 the value of the New York Stock Exchange was approximately $27 billion dollars, and that figure skyrocketed to about $87 billion in just four years. This meant that each average stockholder had tripled their value of stock they were
For the United States the event of WWII was most likely the single largest factor in determining the nation’s financial, political, and social prowess in the 20th century. Where most have knowledge of the war itself, few understand the sheer reach it had and the massive effects it produced globally. At home, it ended the great depression and strengthened our government’s ability to manage the economy. Leading up to the war virtually all industry in the country was majorly crippled if not dead, a problem that may not have ever been fixed were it not for increased demands via the defense industries.
“Much of the Roaring '20s was a continual cycle of debt for the American farmer, stemming from falling farm prices and the need to purchase expensive machinery.” (“The Farming Problem”). Tractors had just graced the U.S. markets which boosted the production of goods greatly. Most would think this was good, but it was more of a problem, the farmers would overproduce goods without enough people to buy them all which made the goods almost worthless. The farmers had to borrow money to pay for their tractors, assuming they would be able to pay back the debt with the money that the tractor made, but when they found they could not it set them up having no money and a debt with no way to pay it back. “When the stock market crashed in 1929 sending prices in an even more downward cycle, many American farmers wondered if their hardscrabble lives would ever improve.” (“The Farming Problem”). The stock market crashing made the stocks the farmers though they would be able to get some money from virtually worthless.
Within the turmoil of the Great Depression came another economic castasrophy amongst the agricultural market within the United States. During the 1930s, not only was the United States ridden with the terrors of the Great Depression, but the Midwest was being sacked by the Dust Bowl. Overproduction led to falling prices, and in turn caused farms to end up bankrupt. Although production existed, farmers were going out of business along with the rest of the country. Income for farms fell by half during the early years of the Depression, causing thousands of farmers to default on loans. (Philpott, 2007)
During the 1920s or the “Roaring Twenties,” there was monumental social and political changes. The nation’s total wealth more than doubled, so there was lots of money to be spent and that's exacting what the American people did. One opportunity available for spending newly gained wealth was purchasing stocks from Wall Street , the banking district for the NYSE. For a while, buying stocks was something only the rich upper class could participate in but a new method of purchasing shares called “buying on margin” allowed the middle class to buy shares of stocks by borrowing the money from a broker
American family farmers produced goods for the global economy; however, after 1870, the depression struck the nation, meaning that the produce families grew for the market and economy would be sold for at a lower price. A family who had contributed themselves to the nation’s economy would find themselves in an event of possibly, and most likely, losing their farm since at that time farming insurance wasn’t available. Ownership of farms were not secure or stable during this time of depression.
In the 1920’s the U.S. economy was booming. The value of stocks were rising and being bought. People were buying tons of stocks. They put as little as ten percent in. Then everything started tumbling down and people lost about ten times as much as they put in.
During the 1920s the United States boomed in stock markets. Millions of Americans began to purchase stocks, causing the market to dramatically increase in value. but for the economy so many Americans invested so much money into the stock markets it started to inflate in price. Which it worried shareholders, but the shareholders heard rumors that the stock markets were going to crash. Many were afraid that the stocks would be worthless. As stocks climbed in price many Americans believed that they could obtain a lot of money even if they only had one or two stocks. But unfortunately, for many potential investors, these people did not have enough money to afford shares of stock.
The twenty-first century is developing into a time of technological developments and the beginning of the Modern Era. The early Modern Era was known as a time of exploration and globalization. Globalization is the interconnection of countries; there is an active exchange of commodities, ideas, and philosophical thoughts. With the development in technology such as cell phones, airplanes, Internet, and social media; it has made the growth of transportation and communication networks possible and much more advanced. In other words, people and countries can exchange information, ideas, and goods more quickly and efficiently. The worldwide spread of technology creates vast connections that create new opportunities on a larger scale. One philosophical movement that spread quickly was Modernism. Modernism is a philosophical movement in the arts. The modernists rejected traditional notions of plot and time. In contrast, they would show a rational, cause-effect relationship between events and the character’s development. In this essay I will be demonstrating one of Berolt Brecht "non-Aristotelian drama", a dramatic form intended to be staged with the methods of epic theatre.
During the nineteenth and twentieth centuries, changes in the dynamics of society caused intellectuals to question the traditions of everyday life. From religious views to the arts of literature, traditional values and forms were rejected, thus defining a line between the two time periods, which can be considered as the start of the Modern era. Also known as Modernism, the modern era used literature as an outlet for expressing the thoughts and feelings of the time. Modern texts use city life, industrialization and globalization, and ironic and satirical themes to showcase their bleak outlook on life post both world wars. The nature of these events are aspects of society
“Modern painting, breaking through old conversation, has released countless suggestions which are still waiting to be used by the practical world.”(Gropius) The birth of modernism and modern art goes back to the Industrial Revolution, a period that lasted from the 18th to the 19th century, in which rapid changes in manufacturing, transportation, and technology profoundly affected the social, economic, and cultural conditions of life in Western Europe, North America, and eventually the world. Before the 19th century, artists created art pieces for wealthy people and institution places like the church where they can create art works about storytelling of religious or mythological scenes . These arts were there to instruct the viewers.However, this changed when during the 19th century many artists began to create works that were about people, places, or ideas that interested them, and of which they had direct experience. With the popularization of the idea of a subconscious mind, many artists began exploring dreams, symbolism, and personal iconography as avenues for the depiction of their subjective experiences.Challenging the notion that art must realistically depict the world, some artists experimented with the expressive use of color, non-traditional materials, and new techniques and mediums.
The Modernist period was brought upon by the industrialisation of the 19th century. This changed the way people saw the world and as a result many styles were created. There was an experimentation of new ideas, styles and materials. The Modernist era was from the late 19th century to the early 20th century. Drastic changes in the art world was brought upon by this era produced works that are unlike any other style that had been seen. It was a break from the past and experimented with new forms of expressionism. Sculpture is a form of visual arts which is shown in three dimension and can be traced back to almost every art movement and is seen in many styles and done in many materials around the wold. Sculpture is a good indicator of the Modernist movement as the the sculptors provided works relevant to the social changes that are coming about. Sculpture also dates back and is not a new concept in its entirety, but we are able to see how it