HILA 120 Lecture Notes - Lecture 4: Legal Tender, Web Of Trust, The Infamous
Document Summary
1939-40 a million people a year in pop growth. Current pop: 42-43 million; 3 million in fed capital. People were beginning to do consumer goods on a larger scale. 1930"s- bad things came with great depression. General expansion of credit throughout trans-atlantic world (every level) Business level= loans to big businesses so they never had to pay all the money. Ba can run up prices as high as they want bc some people don"t care about origin(?) Used widely in la as a way of generating employment as people are displaced from countryside. Prices go down and legit collapse of wages in rural areas. Come to the cities looking for industrial jobs. Service sector (street vendor, etc), construction, domestic service (lived w/ people they served) Schools are primitive, only up to primary level. Pattern of development: ba gets first dibs no matter who was running the country.
