Unit 8: Economic Crisis and War in the 20th Century
While the Industrial Revolution brought great prosperity to many parts of the world, it also ushered in many new challenges. In 1914, tensions between capitalist powers spilled over into war, and the new weapons of industrial age produced a horrific slaughter in Europe. After the war, industrial powers struggled to recover in a decade of economic highs and lows. The weak global economy collapsed in 1929, causing widespread unemployment in industrialized societies. The failure of the international community to maintain prosperity and peace led to the Second World War, which devastated Europe and Asia. After the war, the United States and its allies devised a new system for managing the international economy, while the Soviet Union and its allies pulled new satellite states into a socialist economic system.
In this unit, we will examine the effects of industrialization on war, as well as the effects of war on industrialization. We will also study the economic crises of the 1920s and 1930s and compare different recovery strategies.
Completing this unit should take you approximately 3 hours.
8.1: The First World War
8.1.1: Industrial Rivalry in Europe
8.1.2: Industrialized Warfare
8.1.3: The United States and World War I
8.2: The Depression
8.2.1: Boom and Bust in the 1920s
8.2.2: Recovery Efforts
- Receive a grade
8.3: The Second World War
8.3.2: The U.S. Economy During the Second World War
8.4: The Postwar Order
8.4.1: Postwar Planning and the Bretton Woods Conference
8.4.2: The Marshall Plan