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Chapter 18: Nationalism Around the World, 1919–1939
For each of the in-class videos shown for Chapter 19 summarize them in your own words along with your partner.
Chapter 19 World War II 1939-1945
Britain
Germany
Japan
Science, Technology & Society, p. 616
"Of the city's [Hiroshima] 350,000 inhabitants, 140,000 had died by the end of 1945. By the end of 1950, another 50,000 had died from the effects of radiation."
In-class
Reading Check
Explaining
Why were civilian populations targeted in bombing raids?
Peace and a New War
The Tehran Conference
The Yalta Conference
The Potsdam Conference
War Crimes Trails
A New Struggle
In-class
Reading Check
Identifying
Why did Stalin want to control Eastern Europe after World War II?
Ask Not What Your Country Can Do For You: the inaugural address of John Fitzgerald Kennedy, 5:37
p. 646, The Johnson Administration
McGovern Warns Obama of LBJ Legacy, 3:40
In 1964, President Johnson said of Vietnam that I don't think it's worth fighting for, and I don't think that we can get out. Its just the biggest damn mess I ever saw.'' Yet Johnson escalated the conflict and America became bogged down in Southeast Asia for more than a decade. Former Senator George McGovern recently sat down with ANP and said that President Obama runs the risk, like Johnsons Great Society, of hobbling his ambitious domestic goals if he continues to send troops into Afghanistan.
pp. 647, 651, Rev. Martin Luther King, Jr., "I Have a Dream"
I have a Dream Speech, 2:18
p. 648, The Emergence of a New Society
Ch. 21 The Contemporary Western World 1970-Present
p. 656, "Tear Down This Wall"
Ronald Reagan- "Tear Down This Wall," 4:00
p. 661, Revolutions in Eastern Europe
p. 661, Poland, Lech Walesa, Roman Catholic Church
p. 668, The U.S. Domestic Scene
p. 668, Nixon and Watergate
p. 669, The Carter Administration
"Crisis of Confidence" Speech July 15, 1979, 2:08
p. 669, The Reagan Revolution
Ronald Reagan 1984 TV Ad: "Its morning in America again," 1:00
Revisiting the Reagan Revolution -- A Book Release Party Featuring Dr. Steven Hayward, 4:08
p. 672, The Growth of Terrorism
p. 672, 9/11
Michael Scheuer on "Inside 9/11," 4:27
p. 675, Popular Culture
p. 675, Elvis, Beatles
Sun Studio was opened by rock pioneer Sam Phillips at 706 Union Avenue in Memphis, Tennessee, on January 3, 1950. It was originally called Memphis Recording Service, sharing the same building with the Sun Records label business. Reputedly the first rock-and-roll single, Jackie Brenston and his Delta Cats' "Rocket 88" was recorded there in 1951 with song composer Ike Turner on keyboards, leading the studio to claim status as the birthplace of rock & roll. Blues and R&B artists like Howlin' Wolf, Junior Parker, Little Milton, B.B. King, James Cotton, Rufus Thomas, and Rosco Gordon recorded there in the early 1950s.
Rock-and-roll, country music, and rockabilly artists, including unknowns recording demos and others like Johnny Cash, Elvis Presley, Carl Perkins, Roy Orbison, Charlie Feathers, Ray Harris, Warren Smith, Charlie Rich, and Jerry Lee Lewis, signed to the Sun Records label recorded there throughout the latter 1950s until the studio outgrew its Union Avenue location. Sam Phillips opened the larger Sam C. Phillips Recording Studio, better known as Phillips Recording, in 1959 to take the place of the older facility. Since Sam had invested in the Holiday Inn Hotel chain earlier, he also recorded artist starting in 1963 on the label Holiday Inn Records for Kemmons Wilson.
In 1969, Sam Phillips sold the label to Shelby Singleton, and there was no recording-related or label-related activity again in the building until the September 1985 Class of '55 recording sessions with Carl Perkins, Roy Orbison, Jerry Lee Lewis, and Johnny Cash, produced by Chips Moman.
The Higher Education Bubble
Cf. http://youtu.be/hCP8Z8X0cMw
It is often said that a process that cannot go on forever, won't. Over the past few decades, college and graduate tuitions have climbed much faster than the rate of inflation and the growth of household income, with the difference being made up by debt taken on by students who assumed they'd have no trouble paying it off after graduation. Now students are graduating with big debts, but no jobs. This process can't go on forever. What happens when it stops?
Glenn Harlan Reynolds is the Beauchamp Brogan Distinguished Professor of Law at the University of Tennessee. The author most recently of An Army of Davids: How Markets And Technology Empower Ordinary People To Beat Big Media, Big Government, And Other Goliaths, Reynolds is also a Contributing Editor at Popular Mechanics, a columnist at the Washington Examiner, and the host of "InstaVision" on PJTV.
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If you have been studying for the Exam since I first posted guidelines on "May 17, 2011 1:51 pm" you should be fine; however, these are intended to be helpful suggestions to improve your score.
Unit 4 Macroeconomics: Performance and Stabilization
Chapter 13
Section 2: Inflation
In-class
Review
Use a graphic organizer to identify the steps in measuring inflation.
In-class
Profiles in Economics
Milton Friedman
p. 368, #1, How did Friedman disagree with other economists about achieving economic stability?
#2, How do you think the quality of education would be affected if free market principles were applied to schools?
Milton Friedman - Socialism is Force, 6:39
Why did socialism fail in the Soviet Union?
What values does socialism have?
In contrast, what values does capitalism possess?
What happens when you try to do good with other people's money?
When is the most harm done?
Who was worst between Lenin, Mussolini, and Hitler? Why?
Milton Friedman discusses the moral values encouraged by economic systems and explains that a primary difference between capitalism and socialism is the difference between free choice and compulsory force.
Section 3 Unemployment
civilian labor force
labor force
unemployed
unemployment rate
frictional unemployment
structural unemployment
outsourcing
technological unemployment
cyclical unemployment
seasonal unemployment
GDP gap
misery index
discomfort index
In-class
Complete a graphic organizer by describing the different sources of unemployment.
In-class
Reading Check
Summarizing
How do we calculate the monthly unemployment rate
Reading Check
Interpreting
Which categories of unemployment do you think are the most troublesome for the U.S. economy? Why?
Reading Check
Identifying
What makes the GDP gap a type of opportunity cost?
In-class
Use a graphic organizer to identify the people who are considered unemployed and those excluded from the civilian labor force.
Homemaking Knowledge Contributes To The Enrichment of Life, 9:19
From the "Why Study Home Economics?" (1955); Two teenage girls learn how a knowledge of homemaking can contribute to the enrichment of life. They also learn about the vocational opportunities available to home economic students. Home economics, is an academic discipline which combines aspects of consumer science, nutrition, cooking, parenting and human development, interior decoration, textiles, family economics, housing, apparel design and resource management as well as other related subjects. Producer: Centron Corporation; Creative Commons license: Public Domain.
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Chapter 18: Nationalism Around the World, 1919–1939
Section 4 Nationalism in Latin America
Liberalism, a belief in the individual and in limited government, was a European theory actually only really successful as applied in the United States.
In-class
8th
Reading Check
Comparing
How did the United States's method investing in Latin American differ from that of Britain?
The Move to Authoritarianism
Argentina
Brazil
Mexico
In-class
5th/8th
Reading Check
Examining
How was the Mexican government democratic in form but not in practice?
Culture in Latin America
By the 1920s, Latin American writers, artists, and thinkers began to reject European influences in culture as well. Instead, they took pride in their own culture, with its blend of Western and native traditions.
How did Diego Rivera use his artistic talent as a political tool?
Preview
For each of the in-class videos shown for Chapter 19 summarize them in your own words along with your partner.
Chapter 19 World War II 1939-1945
Chapter 19: World War II, 1939–1945
The German and Japanese occupations of neighboring countries led to a brutal war that took millions of lives. Both countries were defeated, but not before the Nazis had killed millions of people in pursuit of Aryan domination of Europe.
Section 1 Paths to War
Aggressive moves by Germany and Japan set the stage for World War II. Adolf Hitler began a massive military buildup and instituted a draft in violation of the Treaty of Versailles. The German annexation of Austria alarmed France but did not shake Great Britain's policy of appeasement. Mussolini became a German ally. Appeasement of Germany peaked at a conference in Munich where Hitler claimed he sought only one final territory, the Czech Sudetenland. This soon proved false. When Hitler signed a nonaggression pact with Stalin and invaded Poland, Britain and France declared war on Germany. Japanese expansion into Manchuria and northern China brought condemnation from the League of Nations. While still at war with China, Japan launched a surprise attack on U.S. and European colonies in Southeast Asia.
Section 2 The Course of World War II
German forces swept through northern Europe early in the war and set up the Vichy government in France. German air attacks on Great Britain resulted in fierce British retaliation. In the east, harsh weather and a resolute Soviet Union defeated an invading German army. The Japanese conquered the Pacific but miscalculated when they attacked the U.S. naval base at Pearl Harbor. The United States surprised Japan by abandoning its neutrality and entering the war to retake the Pacific. By the end of 1943, the tide had turned against Germany, Italy, and Japan. After the invasion of Normandy, the Allies liberated Paris and defeated Germany. U.S. President Harry Truman, British Prime Minister Winston Churchill, and Soviet Premier Josef Stalin met at Potsdam, Germany, to plan the post-war world. The war in Asia continued until the United States dropped atomic bombs on the Japanese cities of Hiroshima and Nagasaki, causing massive casualties and bringing Japan's surrender.
Section 3 The New Order and the Holocaust
To further their war effort and Hitler's plans for Aryan expansion, the Nazis forced millions of people to resettle as forced laborers. No aspect of the Nazi New Order was more terrifying than the deliberate attempt to exterminate the Jews. As part of the Nazis' Final Solution, Jews were locked into cramped, unsanitary ghettos or forced to dig their own mass graves before being killed. When this proved too slow for the Nazis, they transported Europe's Jews to death camps where they were worked to death or sent to die in gas chambers. The Nazis killed between five and six million Jews and nine to ten million non-Jews. In Asia, Japan showed little respect for the conquered peoples in its effort to secure industrial markets and raw materials. Japanese treatment of prisoners of war was equally harsh. Japan professed a commitment to ending Western colonialism, but the brutality of the Japanese convinced many Asians to resist Japanese occupation.
Section 4 The Home Front and the Aftermath of the War
World War II reached almost every area of the world, and mobilization for war brought widespread suffering and even starvation. The war caused 20 million civilian deaths. The United States, which did not fight the war on its own territory, sent its forces to fight and produced much of the military equipment for the Allies. Segregation in the U.S. military led African Americans to demand civil rights. Racism and suspicion led to the war-time detention of more than 100,000 Japanese Americans. The bombing of cities by the Allied and Axis powers cost thousands of lives, but probably did nothing to weaken the morale of either side. After the war, ideological conflict between the West and the Soviet Union resulted in the Cold War. The Cold War centered around the status of Soviet-dominated Eastern Europe.
World War II 1939-1945
Chapter 19 World War II 1939-1945
Note Taking
Reading and Listening Skill: Recognize Sequence
As you read and listen, keep track of the sequence of events that led to the outbreak of World War II by completing a table like the one below.
Note Taking
Reading Skill: Recognize Sequence
Complete this timetable of German aggression as you read.
The German Path to War
Hitler pursued his goal of bringing all German-speaking people into the Third Reich. He also took steps to gain “living space” for Germans in Eastern Europe. Hitler, who believed in the superiority of the German people, or “Aryan race,” thought that Germany had a right to conquer the inferior Slavs to the east. “Nature is cruel,” he claimed, “therefore we, too, may be cruel. . . .I have the right to remove millions of an inferior race that breeds like vermin.”
Hitler on the History of the Aryan Race (Mein Kampf in English), 3:10
Throughout the 1930s, challenges to peace followed a pattern. Dictators took aggressive action but met only verbal protests and pleas for peace from the democracies. Mussolini, Hitler, and the leaders of Japan viewed that desire for peace as weakness and responded with new acts of aggression. With hindsight, we can see the shortcomings of the democracies’ policies. These policies, however, were the product of long and careful deliberation. At the time, some people believed they would work.
The First Steps
Hitler, too, had tested the will of the Western democracies and found it weak. First, he built up the German military in defiance of the treaty that had ended World War I. Then, in 1936, he sent troops into the “demilitarized” Rhineland bordering France—another treaty violation.
March 1936 Rhineland remilitarized, 3:50
Germans hated the Versailles treaty, and Hitler’s successful challenge made him more popular at home. The Western democracies denounced his moves but took no real action. Instead, they adopted a policy of appeasement, or giving in to the demands of an aggressor in order to to keep the peace.
The Western policy of appeasement developed for a number of reasons. France was demoralized, suffering from political divisions at home. It could not take on Hitler without British support. The British, however, had no desire to confront the German dictator. Some even thought that Hitler’s actions constituted a justifiable response to the terms of the Treaty of Versailles, which they believed had been too harsh on Germany.
In both Britain and France, many saw Hitler and fascism as a defense against a worse evil—the spread of Soviet communism. Additionally, the Great Depression sapped the energies of the Western democracies. Finally, widespread pacifism, or opposition to all war, and disgust with the destruction from the previous war pushed many governments to seek peace at any price.
As war clouds gathered in Europe in the mid-1930s, the United States Congress passed a series of Neutrality Acts. One law forbade the sale of arms to any nation at war. Others outlawed loans to warring nations and prohibited Americans from traveling on ships of warring powers. The fundamental goal of American policy, however, was to avoid involvement in a European war, not to prevent such a conflict.
New Alliances
In the face of the apparent weakness of Britain, France, and the United States, Germany, Italy, and Japan formed what became known as the Rome-Berlin-Tokyo Axis. Known as the Axis powers, the three nations agreed to fight Soviet communism. They also agreed not to interfere with one another’s plans for territorial expansion. The agreement cleared the way for these anti-democratic, aggressor powers to take even bolder steps.
In Italy, Mussolini decided to act on his own imperialist ambitions. Italy’s defeat by the Ethiopians at the battle of Adowa in 1896 still rankled. In 1935, Italy invaded Ethiopia, located in northeastern Africa. Although the Ethiopians resisted bravely, their outdated weapons were no match for Mussolini’s tanks, machine guns, poison gas, and airplanes. The Ethiopian king Haile Selassie (hy luh suh lah see) appealed to the League of Nations for help. The League voted sanctions against Italy for violating international law. But the League had no power to enforce the sanctions, and by early 1936, Italy had conquered Ethiopia.
Union with Austria
From the beginning, Nazi propaganda had found fertile ground in Austria. By 1938, Hitler was ready to engineer the Anschluss (ahn shloos), or union of Austria and Germany. Early that year, he forced the Austrian chancellor to appoint Nazis to key cabinet posts. When the Austrian leader balked at other demands in March, Hitler sent in the German army to “preserve order.” To indicate his new role as ruler of Austria, Hitler made a speech from the Hofburg Palace, the former residence of the Hapsburg emperors.
The Anschluss violated the Versailles treaty and created a brief war scare. Some Austrians favored annexation. Hitler quickly silenced any Austrians who opposed it. And since the Western democracies took no action, Hitler easily had his way.
Demands and Appeasement
Germany turned next to Czechoslovakia. At first, Hitler insisted that the three million Germans in the Sudetenland (soo day tun land)—a region of western Czechoslovakia—be given autonomy. Czechoslovakia was one of only two remaining democracies in Eastern Europe. (Finland was the other.) Still, Britain and France were not willing to go to war to save it. As British and French leaders searched for a peaceful solution, Hitler increased his demands. The Sudetenland, he said, must be annexed to Germany.
At the Munich Conference in September 1938, British and French leaders again chose appeasement. They caved in to Hitler’s demands and then persuaded the Czechs to surrender the Sudetenland without a fight. In exchange, Hitler assured Britain and France that he had no further plans to expand his territory.
After the horrors of World War I, Western democracies desperately tried to preserve peace during the 1930s while ignoring signs that the rulers of Germany, Italy, and Japan were preparing to build new empires. Despite the best efforts of Neville Chamberlain and other Western leaders, the world was headed to war again.
British Prime Minister Neville Chamberlain spoke to a jubilant crowd upon returning to London from a conference with Adolf Hitler in Munich, Germany, in September 1938:
“For the second time in our history, a British Prime Minister has returned from Germany bringing peace with honor. I believe it is peace for our time . . . Go home and get a nice quiet sleep.”
"Peace in our Time," Chamberlain, September 1938, 3:24
Great Britain and France React
Hitler and the Soviets
Just as Churchill predicted, Europe plunged rapidly toward war. In March 1939, Hitler broke his promises and gobbled up the rest of Czechoslovakia. The democracies finally accepted the fact that appeasement had failed. At last thoroughly alarmed, they promised to protect Poland, most likely the next target of Hitler’s expansion.
In August 1939, Hitler stunned the world by announcing a nonaggression pact with his great enemy—Joseph Stalin, the Soviet dictator. Publicly, the Nazi-Soviet Pact bound Hitler and Stalin to peaceful relations. Secretly, the two agreed not to fight if the other went to war and to divide up Poland and other parts of Eastern Europe between them.
Stalin-Hitler pact commemorated, 3:58
The pact was based not on friendship or respect but on mutual need. Hitler feared communism as Stalin feared fascism. But Hitler wanted a free hand in Poland. Also, he did not want to fight a war with the Western democracies and the Soviet Union at the same time. For his part, Stalin had sought allies among the Western democracies against the Nazi menace. Mutual suspicions, however, kept them apart. By joining with Hitler, Stalin tried to protect the Soviet Union from the threat of war with Germany and grabbed a chance to gain land in Eastern Europe.
In-class
Reading Check
Identifying
Where did Hitler believe he could find more "living space" to expand Germany?
The Japanese Path to War
One of the earliest tests had been posed by Japan. Japanese military leaders and ultranationalists thought that Japan should have an empire equal to those of the Western powers. In pursuit of this goal, Japan seized Manchuria in 1931. When the League of Nations condemned the aggression, Japan simply withdrew from the organization. Japan’s easy success strengthened the militarist faction in Japan. In 1937, Japanese armies overran much of eastern China, starting the Second Sino-Japanese War. Once again, Western protests did not stop Japan.
Japanese Invasion of Manchuria, 2:06
When war broke out in Europe in 1939, the Japanese saw a chance to grab European possessions in Southeast Asia. The rich resources of the region, including oil, rubber, and tin, would be of immense value in fighting its war against the Chinese.
In 1940, Japan advanced into French Indochina and the Dutch East Indies. To stop Japanese aggression, the United States banned the sale of war materials, such as iron, steel, and oil to Japan. Japanese leaders saw this move as an attempt to interfere in Japan’s sphere of influence.
Asian Holocaust - Asia-Pacific theatre of war, World War II, 1:07
This short clip highlights the human scale of the tragedy in the Second World War Asia-Pacific theatre. Between 1931-1945, Japanese Imperial Forces invaded and occupied parts of China, Manchukuo, Dutch East Indies (Indonesia), New Guinea, French Indochina (Vietnam, Laos, Cambodia), British Malaya, Singapore, Burma, Borneo, American-occupied Philippines. This clip is part of a project on www.asianholocaust.org to gather resources and information to commemorate the Asian and Allied victims of this epic conflict.
Japan and the United States held talks to ease the growing tension. But extreme militarists, such as General Tojo Hideki, hoped to expand Japan’s empire, and the United States was interfering with their plans.
War with China
The New Asian Order
In-class
Reading Check
Explaining
Why did Japan want to establish a New Order in East Asia?
Section 2 The Course of World War II
German forces swept through northern Europe early in the war and set up the Vichy government in France. German air attacks on Great Britain resulted in fierce British retaliation. In the east, harsh weather and a resolute Soviet Union defeated an invading German army. The Japanese conquered the Pacific but miscalculated when they attacked the U.S. naval base at Pearl Harbor. The United States surprised Japan by abandoning its neutrality and entering the war to retake the Pacific. By the end of 1943, the tide had turned against Germany, Italy, and Japan. After the invasion of Normandy, the Allies liberated Paris and defeated Germany. U.S. President Harry Truman, British Prime Minister Winston Churchill, and Soviet Premier Josef Stalin met at Potsdam, Germany, to plan the post-war world. The war in Asia continued until the United States dropped atomic bombs on the Japanese cities of Hiroshima and Nagasaki, causing massive casualties and bringing Japan's surrender.
Europe At War
Hitler's Early Victories
The Battle of Britain
Attack on the Soviet Union
p. 594
In-class
Reading Check
Identifying
Where did Hitler believe he could find more "living space" to expand Germany?
Japan At War
Pearl Harbor Franklin Delano Roosevelt, 5:23
p. 599, Geography Skills, #1-2
p. 600, Reading Check
Describing
By the spring of 1942, which territories did Japan control?
The Allies Advance
The European Theater
The Asian Theater
In-class
p. 603, Reading Check
Summarizing
Why was the German assault on Stalingrad a crushing defeat for the Germans?
Last Years of the War
The European Theater
People in History
Winston Churchill
The Asian Theater
p. 604, Reading Check
In-class
Identifying
What was the "second front" that the Allies opened in Western Europe?
Section 3 The New Order and the Holocaust
To further their war effort and Hitler's plans for Aryan expansion, the Nazis forced millions of people to resettle as forced laborers. No aspect of the Nazi New Order was more terrifying than the deliberate attempt to exterminate the Jews. As part of the Nazis' Final Solution, Jews were locked into cramped, unsanitary ghettos or forced to dig their own mass graves before being killed. When this proved too slow for the Nazis, they transported Europe's Jews to death camps where they were worked to death or sent to die in gas chambers. The Nazis killed between five and six million Jews and nine to ten million non-Jews. In Asia, Japan showed little respect for the conquered peoples in its effort to secure industrial markets and raw materials. Japanese treatment of prisoners of war was equally harsh. Japan professed a commitment to ending Western colonialism, but the brutality of the Japanese convinced many Asians to resist Japanese occupation.
Preview: Section 4 The Home Front and the Aftermath of the War
Section 4 The Home Front and the Aftermath of the War
World War II reached almost every area of the world, and mobilization for war brought widespread suffering and even starvation. The war caused 20 million civilian deaths. The United States, which did not fight the war on its own territory, sent its forces to fight and produced much of the military equipment for the Allies. Segregation in the U.S. military led African Americans to demand civil rights. Racism and suspicion led to the war-time detention of more than 100,000 Japanese Americans. The bombing of cities by the Allied and Axis powers cost thousands of lives, but probably did nothing to weaken the morale of either side. After the war, ideological conflict between the West and the Soviet Union resulted in the Cold War. The Cold War centered around the status of Soviet-dominated Eastern Europe.
The Mobilization of Peoples: Four Examples
The Soviet Union
The United States
Germany
Japan
In-class
Reading Check
Evaluating
How did World War II contribute to racial tensions in the United States?
Front line Civilians: The Bombing of Cities
p. 615, "The ferocious bombing of Dresden from February 13 to 15, 1945, created a firestorm that may have killed as many as a hundred thousand inhabitants and refugees. . . . Germany suffered enormously from the Allied bombing raids. Millions of buildings were destroyed, and possibly half a million civilians died."
allowfullscreen="true" width="400" height="385">
Britain
Germany
Japan
Science, Technology & Society, p. 616
"Of the city's [Hiroshima] 350,000 inhabitants, 140,000 had died by the end of 1945. By the end of 1950, another 50,000 had died from the effects of radiation."
In-class
Reading Check
Explaining
Why were civilian populations targeted in bombing raids?
Peace and a New War
The Tehran Conference
The Yalta Conference
The Potsdam Conference
War Crimes Trails
A New Struggle
In-class
Reading Check
Identifying
Why did Stalin want to control Eastern Europe after World War II?
Ask Not What Your Country Can Do For You: the inaugural address of John Fitzgerald Kennedy, 5:37
p. 646, The Johnson Administration
McGovern Warns Obama of LBJ Legacy, 3:40
In 1964, President Johnson said of Vietnam that I don't think it's worth fighting for, and I don't think that we can get out. Its just the biggest damn mess I ever saw.'' Yet Johnson escalated the conflict and America became bogged down in Southeast Asia for more than a decade. Former Senator George McGovern recently sat down with ANP and said that President Obama runs the risk, like Johnsons Great Society, of hobbling his ambitious domestic goals if he continues to send troops into Afghanistan.
pp. 647, 651, Rev. Martin Luther King, Jr., "I Have a Dream"
I have a Dream Speech, 2:18
p. 648, The Emergence of a New Society
Ch. 21 The Contemporary Western World 1970-Present
p. 656, "Tear Down This Wall"
Ronald Reagan- "Tear Down This Wall," 4:00
p. 661, Revolutions in Eastern Europe
p. 661, Poland, Lech Walesa, Roman Catholic Church
p. 668, The U.S. Domestic Scene
p. 668, Nixon and Watergate
p. 669, The Carter Administration
"Crisis of Confidence" Speech July 15, 1979, 2:08
p. 669, The Reagan Revolution
Ronald Reagan 1984 TV Ad: "Its morning in America again," 1:00
Revisiting the Reagan Revolution -- A Book Release Party Featuring Dr. Steven Hayward, 4:08
p. 672, The Growth of Terrorism
p. 672, 9/11
Michael Scheuer on "Inside 9/11," 4:27
p. 675, Popular Culture
p. 675, Elvis, Beatles
Sun Studio was opened by rock pioneer Sam Phillips at 706 Union Avenue in Memphis, Tennessee, on January 3, 1950. It was originally called Memphis Recording Service, sharing the same building with the Sun Records label business. Reputedly the first rock-and-roll single, Jackie Brenston and his Delta Cats' "Rocket 88" was recorded there in 1951 with song composer Ike Turner on keyboards, leading the studio to claim status as the birthplace of rock & roll. Blues and R&B artists like Howlin' Wolf, Junior Parker, Little Milton, B.B. King, James Cotton, Rufus Thomas, and Rosco Gordon recorded there in the early 1950s.
Rock-and-roll, country music, and rockabilly artists, including unknowns recording demos and others like Johnny Cash, Elvis Presley, Carl Perkins, Roy Orbison, Charlie Feathers, Ray Harris, Warren Smith, Charlie Rich, and Jerry Lee Lewis, signed to the Sun Records label recorded there throughout the latter 1950s until the studio outgrew its Union Avenue location. Sam Phillips opened the larger Sam C. Phillips Recording Studio, better known as Phillips Recording, in 1959 to take the place of the older facility. Since Sam had invested in the Holiday Inn Hotel chain earlier, he also recorded artist starting in 1963 on the label Holiday Inn Records for Kemmons Wilson.
In 1969, Sam Phillips sold the label to Shelby Singleton, and there was no recording-related or label-related activity again in the building until the September 1985 Class of '55 recording sessions with Carl Perkins, Roy Orbison, Jerry Lee Lewis, and Johnny Cash, produced by Chips Moman.
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For the Make-up Quiz, consider the material found in Chapter 9 Section 3:
minimum tax, VAT (Value-Added Tax), flat tax, federal tax reform, business taxes, profits, tax burden, personal income rate, depreciation, investment tax credit, and, capital gains.
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Unit 4 Macroeconomics: Performance and Stabilization
Chapter 13
Using Econometric Models
In-class
Reading Check
Analyzing
Why are short-term econometric models more accurate than long-term models?
13.1 Review
In-class assignment, with a partner, answer the question.
Use the graphic organizer to identify the causes and effects of the Great Depression.
Business Week
News clip
Dog Days: A Frank Look at the Economy
Section 2: Inflation
Inflation is the increase in the general level of prices of goods and services. Several price indexes are used to measure inflation. Consumer price index (CPI) is a statistical series that tracks monthly changes in the prices paid by urban consumers for a representative "basket" of goods and services. Another index is the producer price index (PPI), which is a monthly series that reports prices received by domestic producers. Causes of inflation include strong demand, rising costs, and wage-price spirals, along with a growing supply of money. Therefore, inflation can reduce purchasing power, distort spending, and affect the distribution of income.
inflation
UNDERSTANDING ECONOMICS: INFLATION, 6:32
In-class
What is inflation?
What is the most effective tool used to gauge the level of inflation?
What are the two types of inflation?
How is each defined?
How does the government attempt to combat inflation?
Define the attempts.
What is deflation?
What is stagflation?
What is hyperinflation?
Text from vid:
Inflation is defined as an overall increase in the price level. Or, in other words, an overall decrease in the purchasing power of the dollar.
When inflation occurs, currency buys fewer goods and services.
The most effective tool used to gauge the level of inflation is the Consumer Price Index, or CPI.
The Consumer Price Index is a basket of about 400 commonly purchased goods and services that is used to represent overall consumption.
Each month, the Department of Labor checks the prices of these 400 different items in 85 areas all over the U.S.
Inflation exists when the average cost of the items is rising. If the average cost of these items remains the same, there is no inflation, even though most likely the prices went up on some of the items, while the prices went down on others.
The overall percentage of increase or decrease of cost for these items from year to year is the annual inflation rate.
Well cover the Consumer Price Index in greater detail in a later video.
There are two types of inflation: demand-pull inflation and cost-push inflation.
Demand-pull inflation occurs when the demand for goods and services increases faster than the supply of goods and services. This increase in demand could come from increases in the money supply, or increases in the amount of money government spends.
Demand-pull inflation is sometimes described as too much money chasing too few goods.
When demand increases, there would be a shortage of many items if prices stayed at the same level. However, prices will not stay at the same level.
When theres a shortage of something, the price on that item will rise until it hits an equilibrium. This causes a rise in the overall average of prices.
Cost-push inflation happens when there is an increase in the cost to produce goods and services. These increased production costs could be increases in the cost of raw materials, energy, or any other item used in production.
There also could be increases in wages. This is sometimes referred to as wage-push inflation, or the price-wage spiral.
The government attempts to combat inflation using fiscal policy and monetary policy.
Fiscal policy is the use of the governments taxing and spending powers to attempt to accomplish economic pulls. Fiscal policy can be used to decrease spending to reduce demand-pull inflation.
Government can reduce total spending by reducing its own spending. It could also reduce overall spending by raising taxes, which leaves consumers with less money to spend on goods and services.
Monetary policy involves the changing of interest rates and availability of loans to attempt to accomplish economic goals.
The Fed can reduce spending by raising interest rates and making loans harder to obtain, which in turn reduces demand-pull inflation.
Inflation can never be totally eliminated. Furthermore, efforts to reduce inflation tends to cause unemployment, just like efforts to reduce unemployment tends to cause inflation.
Because of this tradeoff, policymakers have to struggle with which is worse when making policy decisions.
Should they attempt to reduce inflation at the cost of higher unemployment? Should they attempt to reduce unemployment at the cost of higher inflation?
These questions are the subject of much debate among economists. And while these policies might work good in theory, its safe to argue that theyre not as effective as one might hope.
There are some other terms worth mentioning briefly. The first is deflation.
Deflation is defined as the general drop in the price level. Or, to put it another way, an increase in the purchasing power of the dollar.
Deflation occurs during recessions when the GDP is declining.
Because of the decline in demand, sellers must reduce their prices to attract buyers, which causes an overall price decrease, also known as deflation.
Music:
Danse Macabre - Low Strings Finale (Theme)
Witch Hunt
Dangerous
Crisis
Gustav Sting
Home Base Grove
by Kevin MacLeod
incompetech.com
deflation
price index
consumer price index (CPI)
market basket
base year
In-class
Reading Strategy
Complete the graphic organizer by illustrating the steps in a wage-price spiral.
In-class
Reading Check
Analyzing
How is a market basket used to measure the price level?
In-class
Reading Check
Explaining
Which explanation do you think gives the most reasonable cause of inflation? Why?
In-class
Reading Check
Identifying
Why is inflation especially hard on people with fixed incomes?
In-class
Review
Use a graphic organizer to identify the steps in measuring inflation.
In-class
Profiles in Economics
Milton Friedman
p. 368, #1, How did Friedman disagree with other economists about achieving economic stability?
#2, How do you think the quality of education would be affected if free market principles were applied to schools?
Milton Friedman - Socialism is Force, 6:39
Why did socialism fail in the Soviet Union?
What values does socialism have?
In contrast, what values does capitalism possess?
What happens when you try to do good with other people's money?
When is the most harm done?
Who was worst between Lenin, Mussolini, and Hitler? Why?
Milton Friedman discusses the moral values encouraged by economic systems and explains that a primary difference between capitalism and socialism is the difference between free choice and compulsory force.
Section 3 Unemployment
civilian labor force
labor force
unemployed
unemployment rate
frictional unemployment
structural unemployment
outsourcing
technological unemployment
cyclical unemployment
seasonal unemployment
GDP gap
misery index
discomfort index
In-class
Complete a graphic organizer by describing the different sources of unemployment.
In-class
Reading Check
Summarizing
How do we calculate the monthly unemployment rate
Reading Check
Interpreting
Which categories of unemployment do you think are the most troublesome for the U.S. economy? Why?
Reading Check
Identifying
What makes the GDP gap a type of opportunity cost?
In-class
Use a graphic organizer to identify the people who are considered unemployed and those excluded from the civilian labor force.
Homemaking Knowledge Contributes To The Enrichment of Life, 9:19
From the "Why Study Home Economics?" (1955); Two teenage girls learn how a knowledge of homemaking can contribute to the enrichment of life. They also learn about the vocational opportunities available to home economic students. Home economics, is an academic discipline which combines aspects of consumer science, nutrition, cooking, parenting and human development, interior decoration, textiles, family economics, housing, apparel design and resource management as well as other related subjects. Producer: Centron Corporation; Creative Commons license: Public Domain.
"The Girl from Ipanema" ("Garota de Ipanema") is a well-known bossa nova song, a worldwide hit in the mid-1960s that won a Grammy for Record of the Year in 1965. It was written in 1962, with music by Antonio Carlos Jobim and Portuguese lyrics by Vinicius de Moraes. English lyrics were written later by Norman Gimbel.
