HIST 116 Lecture Notes - Lecture 19: John Maynard Keynes, Keynesian Revolution, Overconsumption
27 Jul 2019
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World war ii and the origins of the cold war. Wwi and the great depression: mass production and overconsumption, mass production=cheaper product=not paying employees as much, people are becoming marxists, losing in capitalism-persuasive, european debt, owes us a lot of money, protectionism, tariffs, isi-import substitution industrialization. Stop importing from us, we have to make it ourselves: john maynard keynes: keynesian revolution (british economist, markets cannot always adjust, sometimes the state needs to intervene. Increase money supply (inflation: create jobs (new deal, welfare states. Allies: axis powers: germany, japan, italy, allied powers: france, great britain, soviet union (communist), and united states, decline in western european world dominance, colonial subjects. The first five-year plan (1929-1932: industrialization=military and national might, necessary to argue that the soviet project works. Collectivization (1929-1934: lots of grain at low prices is necessary for industrialization, famine=3-4 million dead. The great purges: gulags (working camps), show trials, executions, chistki (purges)
