World War I And The Great Depression

After World War 1, America had to demobilize and revert back to a peace time economy. During the 1920’s, it was viewed as a prosperous economy since there was a new labor force due to demobilization, new inventions, and a new infrastructure. Also moral spirits were high since America along with the Allied Powers defeated Germany and the Great War was finally over. However, America began making many economic policies and decisions that will eventually lead up to the Great Depression.

World War II is a great example of how war helped the US strengthen their economy because ending the policy of isolationism and joining the war ended the Depression. In the 1940’s, when the US was isolated from the rest of the world due to the Great Depression,

Modernism began around the late 1800s or early 1900s, with artists and writers in Europe producing many extraordinary and influential works. This period spans many events, including both World Wars and the Great Depression. World War I appeared to be a major event that helped to start Modernism; this was because of the destruction and ruin that came from it and events that followed. This poem is consistent with the values of Modernism because of alienation, time, and self- consciousness; however, it continues to resonate with readers today because isolation, change, and insecurities are things that humans may face.

The fallout after the World War 1 and the Great Depression saw the emergence of a literary preoccupation with the idea of fragmentation, and a 'cubist application ' to literature as a means of representing the 20th Century 'modern ' reality. Authors, poets, artists etc saw; cubism, expressionism and fragmentation as the best vehicles to depict the incomplete, broken lives of their subjects. With both modern and post modern literature making a conscious break away from previous realism, 20thC literature employed and explored subjectivism, whereby the author turned from the typical external reality to the inner consciousness of a character or subject, to reflect a motif/ theme as a whole. Modernist literature did so by exploring fragmentation in terms of narrative, how a character was constructed, the formation of passages and chapters, and how events unfolded. This typically surmounted to the creation of a sense of a chaotic universe, metaphysically unfounded, laced with the subconscious fears of characters and notions of alienation.

Before and during the war our trade was severely interrupted and negatively affected which resulted in the need for Americans to rely on themselves to make many of the products they had previously depended on importation for. Because the States were no longer purchasing from other countries and paying high taxes, but buying and selling to their own people, the economy was lifted. Previous to the start of the War and all throughout, the economy was in sad shape. Due to the result of the war and uneasy ties with Britain, by doing business within itself America was lifted a little out of the huge hole which the War of 1812 and previous wars created.

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.

As Canada was maturing, many currencies were circulating throughout the colonies. “It was not until the Province of Canada’s revised Currency Act of 1857 that dollars and cents were recognized as the only official units of Canadian currency” (Vardy, J., 2005, p 3) “Silver and bronze coins, denominated in cents and bearing the word “Canada” issued for the first time in 1858, were the first distinctive Canadian Currency”. This currency was referred to as Dominion Notes and could be issued by “commercial banks, private enterprises and governments” (Vardy, J. , 2005,p 3). These notes “became the official currency of Canada in 1876” (Vardy, J., 2005, p 3).

When considering time between 1865 and 1945, United States history evolved and differed from period to period. It began with times of slavery and reconstruction, and proceeded with transformation in the Gilded Age. This then led to the Progressive Era, World War I, the Great Depression and its aftermath, as well as World War II. As one can see, history seems to fluctuate from times of peace and order to times of chaos and turmoil. A process of trial and error explains both how and why the U.S. changed the way it did. In other words, these periods and events reveal that history in itself is a recurring process of learning from past mistakes.

One of the most major changes in the U.S. after World War I was its economy. After the end of the war the nation went through a brief recession, but quickly later came an economic boom. Within this period of economic growth the nation went through what some consider a boom cycle (Doc 1). The demand and production for goods, sales, employment, profits, and purchasing power

The American economy flourished after World War I. The United States was involved in the war as part of the Allied Powers, and continued to have economic links with their allies, especially Great Britain. Their success in the war made it possible for American soldiers to return back home in 1919 to an economic boom (Baughman 197). Part of this economic boom was due to wartime production. During the war, the petroleum and steel industries were revived and new industries like plastic and rayon production were created. Additionally, more money was spent on technological advancements and making workers more productive, which led to higher wages and more disposable income (Feldmeth).

When World War I ended the United States was in a recession and millions of veterans were looking for jobs and it was weighted on the war contracts. There was also a shortage in food and products that were not being produced which caused high prices and inflation. The cost of living also doubled and that caused major stress for all Americans. The Americans had little patience for what was happening with the economy. They just wanted to forget about the war and start over. The majority of the American believed that the business sector was going help the recession. The Americans were afraid that the communists might be able to succeed and come into America.

The world had faced two main economic problems. The first one was the Great Depression in the early of 20th Century. The second was the recent international financial crisis in 2008. The United States and Europe suffered severely for a long time from the great depression. The great depression was a great step and changed completely the economic policy making and the economic thoughts. It was not only an economic situation bit it was also miserable making, made people more attention and aggressive until they might lose their lives. All the society was frightened from losing money, work and stable. In America the housing market was the main factor of the great depression. A crisis of liquidity appeared in the banks forming a credit crunch. This period was influenced by over extended stock market shortage of water in the south and over trusting. The American government put down some regulations to control the productions which were essential for the war.

In fact, the United States had enjoyed an extended period of economic expansion during the war, and following the war the U.S. economy continued with great strength for more than a decade. Life in America, consequently, was arguably better than it had ever been. The middle class had swelled, unemployment rates were some of the lowest in history, and the “American Dream” was for many families a reality.

American factories and country sides were unharmed, performing better than ever unlike in some European countries the United States was not laid to waste by war. World War I sped up American industrial production, leading to an economic boom throughout the ‘Roaring Twenties.’ The fighting was devastating experience for France and the United Kingdom these countries were able to recover economically without too much difficulty. Germany however particularly suffered following the war under the Treaty of Versailles, Germany was required to make monetary payments to Allies called reparations. The heavy reparations combined with the

World War I also effected the economy of United States and the World economy. Stock market crashed in October 1929 in United States, and it marked the beginning of the great depression. Thousands of banks and businesses failed during this time. Agricultural production fell, and unemployment rose quickly. Unemployment commonly exceeded twenty five percent. In 1933 one out of every four American workers was out of a job. Since World War I effected the economies of almost all the countries, the world trade fell off and countries turned to nationalist economic policies that only provoked the problem. Prices of everything were so high that money sometimes was more useful to burn than to spend. Counties had over 280, 000 million dollars in expense during war. The costs of World War I was too big to pay for the world, and the economy of almost all the countries fell down.