1. The economic situation: The
“booming twenties”

2. The rise of the
democracies and
the Fascism
(1918-1939)

3. The booming twenties
• As the 1920s went on, it
seemed that there was a
real chance that peace
would last.
• Most countries were
getting richer.
• It was called “the roaring
twenties”

4. Technology for domestic markets

6. Some successes:
Diplomatic
relations btw
Russia and
Germany,
Germany joined
the League…

7. Behind the prosperity there were signs of
trouble.
• USA was properous
– Cheap labour
– High wages
– Mass production

8. Construction of skyscrapers in USA

11. • USA Century!
• Hundreds of $ loaned Cultural boom
by USA to Europe to
recover from WW1

13. The boom ended in 1929

14. Overproduction

15. Boom=to borrow

16. Americans bought shares

17. Supply and demand

18. Artificial prices!!
• People hoped banks
keep value
• They had short of
money
• Banks failed
• Goverment made
nothing: free market

19. Why not selling goods to Europe?
• European industries were recovering, so they
bought less USA products.

20. USA
• Recovery under
Roosevelt
(“New Deal”)