MMW 15 Lecture Notes - Lecture 5: Hooverville, Scapegoating, Socalled
6 May 2019
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Document Summary
The global depression and the road to the second world war. Forced people to think about things differently and in extremes. Radicals were given a space to draw more people to their cause. Started in the us and rippled out. The entire world experiences extreme economic hardship. Forced a debate about the regulation of the economy. Usually created a new role for the state in terms of regulating economic activity. The creation of social safety nets worldwide. Changed how people thought about the nation and fellow citizens. Scapegoating that led to marginalization and attack in some places. There is increased prosperity across class lines. The us issues very large loans to europe. Increased borrowing and investment in the stock market by everyday people. People are taking their money and putting it into the market. Many sell stocks on concerns of their inflated value, which contributes to a panic, more sales, and the collapse of stock prices.
