Lecture 24 - employment interest and money” published in...

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Lecture 24 The great depression and the prelude to WW2 I. The great depression a. Roaring 20 th and economic prosperity and growth of domestic product after WW1 e.g. production of consumer commodities b. Slow down of consumerism because of lack of demand internationally c. Mostly market speculation and this led to crash in stock i. Banking failure causing huge contraction of money from circulation d. Growing middle class and division between rich and poor e. National unemployment soared i. Farmers suffered severe lost ii. Social protest – farm strikes and mine strikes organizing over unemployment iii. 1934 July Long shore men strikes in SF: tied the harbor for 2 months II. Social and labor unrest III. Keynesian economics and the new deal a. Try to stimulate the economy in a new way – Roosevelt’s New deal b. John Keynesian – Using government money to create jobs by creating new programs to stimulate labors c. Keynesian economics were first presented in “The general theory of
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Unformatted text preview: employment, interest and money” published in 1936 i. Pump primer: Government stimulating economy and federal government institution programs such as WPA ii. New deal and social security: People compensated from getting unemployed iii. National industrial recovery act: Allow rights of Unions to exist and collaborate IV.Asian American communities during the depression a. 1924 Immigration Act intensified this depression for Asian American b. Most of the immigration for Asians were ceased except Filipinos i. Number of patronages decreased and this led to bankrupt of companies c. Service industries are restrained and impoverishment of these services because of dormant economic status in this period d. Urbanization – 90% of Chinese population dwelling in urban cities (demographic transformation) V. Global context: Japanese aggression in Asia VI.Political responses of Chinese and Japanese in the U.S...
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This note was uploaded on 02/12/2010 for the course ASAMST 20A taught by Professor Omi during the Fall '08 term at Berkeley.

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