EDWARD'S LECTURE NOTES:
More notes at http://tanguay.info/learntracker
C O U R S E
A History of the World since 1300
Jeremy Adelman, Princeton University
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C O U R S E L E C T U R E 1918-1945 Rethinking Economies Notes taken on January 15, 2022 by Edward Tanguay |
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in World War I, on the battlefield, the resources of empires hemorrhages in the form of the human toll
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the peace of 1918/1918 didn't create a durable peace
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the tension would persist until well into 1945
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1914-1945, a thirty-years war
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war was much more common in the world than peace
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brought the old empirical systems to a head and with a human toll that we have never seen and that we would never see again
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a crack in the economic system
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1929 was the collapse of the financial, commercial and open integrated, interdependent system
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disintegrated the global system
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took only a few, short intense years to break this down
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production was separated from consumption
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19th century was an experiment in this
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some produce primary stables (India--cotton), and others (Britain--textiles) produces manufactured goods
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protectionist measures
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to protect own jobs
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the system starts to break down
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the capital that flows back and forth between the two was shattered by the financial crisis
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reached its depth in 1932
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what pulled the world out of this were the demands of the wartime economy
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people became disillusioned with the classic approach to global capitalism
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with 20-35% unemployment rates
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all economic systems relied on state intervention as an engine
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capitalistic
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communist
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colonial
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the state was recognized as an agent for creating demand for commodities
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you needed the state to step in and create demand
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the economies that did relatively better throughout the depression were the command economies
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not just where states put money in people's pockets, i.e. the liberal economies
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America
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Canada
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Australia
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some states took over production itself
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never before have we seen the state play such an aggressive role
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all societies had become a mass society
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had to integrate the have-nots into society
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all mass production societies
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Fordism
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mass producer of the Model-T automobile
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his workers should be able to buy an automobile
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they can be the consumers of what they produce
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a conceptual breakthrough
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to recombine production and consumption
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there was pressure on states to solve social problems
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states could be involved in resolving the market failure
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to recombine production and consumption
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the paradox of modern capitalism is that while it created more integration, it also created more volitility
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put pressure on states to integrate societies vertically
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to bring the poorest levels of society into public life
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resolving these paradoxes was the challenge of the 1930s