AP World History AMSCO Guided Notes

7.4: Economy in the Interwar Period

AP World History
AMSCO Guided Notes

AP World History Guided Notes

AMSCO 7.4 - Economy in the Interwar Period

Essential Questions

  1. How did different governments respond to economic crises after 1900?
I. The Great Depression

1. What were the major economic consequences of World War I for Germany and the Allied nations?

2. How did Germany's reparation payments lead to inflation in the 1920s?

A. Global Downturn

1. What were the two major causes of the global economic downturn that began in 1929?

2. Why did Germany suffer more severely than other Western nations during the Great Depression?

3. How did the Great Depression affect economies in Africa, Asia, Latin America, and Japan?

B. Keynesian Economics

1. How did John Maynard Keynes's economic theory differ from laissez-faire economics?

2. What role did deficit spending play in Keynes's solution to the Great Depression?

C. New Deal

1. What were the three main goals of Roosevelt's New Deal programs?

2. How did the New Deal reflect Keynesian economic principles, and what happened when Roosevelt reversed course in 1937?

3. What finally ended the Great Depression in the United States?

D. Impact on Trade

1. How did the Great Depression affect international trade, and what action did nations take to protect their economies?

2. How did Japan's strategy of currency devaluation and overseas expansionism help it recover from the Depression?

II. Political Revolutions in Russia and Mexico

A. Continuing Revolution in Russia

1. What economic crisis did Russia face after World War I, and how did Lenin attempt to address it?

2. What was the New Economic Plan and how did it differ from earlier communist economic policies?

B. Joseph Stalin

1. What were Stalin's goals in implementing the Five-Year Plans and collectivizing agriculture?

2. How did peasants respond to collectivization, and what were the consequences of Stalin's agricultural policies?

3. What were the mixed results of Stalin's Five-Year Plans in terms of industrial development and agricultural production?

4. How did Stalin maintain political control, and why did some view the Soviet Union with both horror and wonder in the 1930s?

C. Party Rule in Mexico

1. What role did the Institutional Revolutionary Party (PRI) play in Mexican politics and the economy during the interwar period?

2. What was significant about Lรกzaro Cรกrdenas's nationalization of Mexico's oil industry in 1938?

III. Rise of Right-Wing Governments

1. What were the key characteristics of fascism as a political system?

A. Rise of Fascism in Italy

1. What is the origin of the term fascism and what symbol did it use?

2. What was corporatism in the Italian fascist state, and how did it function in practice?

B. Mussolini Takes Control

1. Why was Italy discontent after World War I, and how did this discontent help Mussolini rise to power?

2. What was Mussolini's justification for conquering Abyssinia, and what was the international response?

3. What alliance did Mussolini form in 1936, and what impact did the Abyssinian crisis have on the League of Nations?

C. Fascism and Civil War in Spain

1. What political conflict led to the Spanish Civil War in 1936?

2. Who were the Nationalists and Loyalists, and what ideologies did they represent?

D. Foreign Involvement

1. Which countries supported the Nationalists and which supported the Loyalists during the Spanish Civil War?

2. How did foreign intervention affect the outcome of the Spanish Civil War?

E. Guernica

1. What was significant about the bombing of Guernica, and how was this tragedy commemorated?

F. Franco's Victory

1. When did the Spanish Civil War end, and what was Franco's relationship to World War II?

G. Rise of a Repressive Regime in Brazil

1. What economic and social conditions led to the 1930 coup that brought Getulio Vargas to power in Brazil?

2. How did Vargas's Estado Novo program resemble European fascism, and how did it differ?

3. Why did Brazil's alignment with the Allies in World War II affect how the nation was perceived internationally?

Key Terms

inflation

deficit spending

relief

recovery

reform

collectivize

kolkhoz

corporatism

Great Depression

New Deal

New Economic Plan

Five-Year Plan

John Maynard Keynes

Russian Civil War

Spanish Civil War

Guernica

Politburo

Institutional Revolutionary Party (PRI)

fascism

totalitarian state

Popular Front

Nationalists

Republicans

Loyalists

Luftwaffe

Union of Soviet Socialist Republics (U.S.S.R.)

Soviet Union

Libya

Italian Somaliland

Spanish Republic

Basque region

hypernationalism

Franklin D. Roosevelt

Lรกzaro Cรกrdenas

Francisco Franco

gulag

PEMEX