Pankhurst, Fascism, Auschwitz, 1929 Crash & New Deal
Emmeline Pankhurst (1858-1928)
Emmeline Pankhurst, the British suffragette, was born in Manchester. As a young woman, she joined the British Labour Party. Along with her daughter Christabel, she founded the Women’s Social and Political Union in 1903. This group pressured the government to grant women the right to vote. The group’s methods were sometimes violent, including destruction of property and arson, which led to Pankhurst being jailed several times. After World War I, Pankhurst moved to Canada. She later returned to Britain, where she died.
Fascism in Italy
Italian fascism reflected the personality of Benito Mussolini, who founded the National Fascist Party in November 1921. The main characteristics were:
- Opposition to democracy and communism
- The role of the state
- A single political party
- Violence
- Monopoly of the media and propaganda
- State-controlled economy
- Nationalism and inequality
- Militarism
Auschwitz Concentration Camp
Auschwitz was the most important concentration camp.
Black Thursday: October 24, 1929
The crash of the New York stock market in 1929 caused a severe global economic crisis.
Causes of the crash:
- Overproduction: During World War I, participating countries based their economies on wartime production, while other countries, like Japan and Argentina, produced consumer goods. When the war ended, countries made all types of products, which led to excess supply.
- Speculation: Banks lent money to businesses and individuals, who invested this money in the stock market. Although some industries were struggling in the mid-1920s, the value of their stocks continued to rise because people kept buying.
The Great Depression
The stock market crash led to a severe economic crisis, known as the Great Depression. Banks failed because their customers withdrew all their money and many loans were not repaid. The crisis spread around the world:
- The United States reduced its imports, which harmed countries, especially in Latin America, that supplied the United States with raw materials.
- United States banks withdrew their investments from Europe. This especially harmed Germany and Austria, where numerous industries and banks went bankrupt as they were dependent upon United States investment.
The New Deal
In order to help the United States to recover from the crisis, President Franklin D. Roosevelt launched a program called the New Deal in 1933. This established greater state intervention in the economy:
- Public works: The goal was to create employment and stimulate investment by large companies.
- Farming subsidies: Farmers were paid to produce less so that prices would rise and profits would increase.
- Improved working conditions: These included a shorter work day, a minimum wage, and unemployment insurance.
- Restructuring of the financial system: These measures were intended to increase consumption and stimulate the United States economy.
The Roaring Twenties in the United States
Between 1922 and 1929, the United States experienced massive industrial growth. The automobile, electric, household appliance, and petrochemical industries, among others, developed rapidly. This was due to the production line method, standardized production, and the rise of large corporations, which could make big investments. Construction was also of great importance. The standard of living rose, and the consumer society was born. More people could have automobiles, washing machines, radios, and refrigerators. New entertainment options became extremely popular. These included the cinema, spectator sports, and popular music and dances. The press and radio grew in importance.