Tag Archives: economy

Photo comparing daily diets of the ‘haves’ vs ‘have nots’ in France 1789

Photo comparing daily diets of the 'haves' vs 'have nots' in France 1789 from www.aircirculation.org

From www.aircirculation.org

 

Saddam Hussein

Saddam Hussein’s Rule of Iraq

This revision podcast is relevant to both GCSE and IGCSE History students, although AS and IB students may find it a helpful introduction to events in the Gulf in the later 20th Century.  This episode aims explain the factors that allowed Saddam Hussein to maintain his rule of Iraq after he became President in 1979.

The podcast breaks Saddam’s rule into three key areas: his control of the Ba’ath party, his use of repression and violence against his enemies, and his use of economic and social policy alongside propaganda to maintain the support of the population.

The revision guide aims to give clear examples for each of these factors, and explain how each of them contributed to Saddam remaining in power for a quarter of a century.

     

Iranian Revolution 1979

Why was there a revolution in Iran in 1979?

This revision podcast is relevant to both GCSE and IGCSE History students, , although AS and IB students may find it a helpful introduction to events in the Gulf in the later 20th Century.  The aim is to present an explanation of the factors that led to the Iranian Revolution in 1979.

The podcast explores three key factors:

  • Dissatisfaction with Shah’s government and his handling of the economic and social problems in Iran
  • A widespread anti-Western attitude as a result of the Shah’s close relationship with Britain and the USA
  • The role and impact of Ayatollah Khomeini

The revision guide aims to give clear examples for each of these factors, and explain how they contributed to the revolution that transformed Iran into a theocracy.

     

3 estates cartoon

The Origins of the French Revolution

This revision podcast presents the background to the French Revolution.  Beginning with the impact of the Enlightenment on 18th Century Europe, it goes on to examine a variety of factors that led to the Revolution.  Long-term issues that are covered include the Estates System, the emergence of the bourgeoisie and the changing economy, taxation and financial problems, and the effect of the population increase.  Shorter term causes that are explained include the impact of King Louis XVI, the Assembly of the Notables, the Estates General, and the Tennis Court Oath.  Factors are explained thematically to make it easier to organise ideas during revision, and it’s hoped that this will in turn help you create a well-structured answer.

          

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What was life like in pre-Revolutionary France?

First-hand accounts from 18th Century writer Arthur Young, who travelled through France in the years before the revolution.  Excellent overview of the inequality of life between the French peasantry compared to that of the nobility.  Extract from Curriculum Bites.

The French Revolution: The Reign of Terror

This podcast episode explores the situation in France following the execution of Louis XVI in 1793, and seeks to explain why the Convention introduced the Terror.  It considers both the external and internal pressures facing France at the time, and goes on to explore how and why the Convention chose to respond in such an extreme way to the situation.  The role of Maximilien Robespierre is considered, along with an exploration of the reasons for his downfall.

          

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Napoleon's domestic policy hexagons

Napoleon’s domestic policies – virtual hexagon activity using @classtools

This activity uses the excellent ‘virtual hexagons generator’ tool from www.classtools.net to give students a range of information about Napeoleon’s domestic policies. They can rearrange the hexagons to create a framework for an essay answer, colour-code them, and delete/add as required.

Access the full-screen interactive version at http://www.classtools.net/hexagon/201604-AFB5ZC

Rentenmark

Introduction of the Rentenmark in Weimar Germany

On the 15th October 1923, the Rentenmark was introduced in Weimar Germany in an attempt to stop the hyperinflation crisis that had crippled the economy.

Gustav Stresemann’s finance minister, Hans Luther, introduced the new currency to replace the crisis-hit Papiermark in a plan devised jointly with Hjalmar Schacht at the Reichsbank who went on to be Minister of Economics in the early years of Hitler’s rule.

The French and Belgian Occupation of the Ruhr that began on the 11th January 1923 had been met with a policy of passive resistance by the German government. Although this succeeded in frustrating the occupying powers who sought to extract reparations payments in the form of natural resources, it also brought the economy in the Ruhr to a shuddering halt.

Since the strike had been called for by the government, the strikers and their families were eligible to receive income support. However, with falling tax revenues as a result of the lack of trade the government struggled to keep up with payments. In response they began printing money even though there was no product to base it on. The so-called Papiermark went into freefall as hyperinflation took hold, and the cabinet resigned in favour of a new one formed under Stresemann.

The new currency was backed by real estate – land that was used by businesses and agriculture – and was introduced at the rate of one Rentenmark to one trillion Papiermarks. With the currency now tied to something with physical value, hyperinflation was stopped in its tracks. The more commonly known Reichsmark was introduced the following year at the same value.

Wall Street Black Thursday

A brief explanation of the origins of the Wall Street Crash

Thursday the 24th October 1929, known as Black Thursday, is generally accepted as the first day of the Wall Street Crash. The day saw panic selling of shares on the New York Stock Exchange on an unprecedented scale, with over 12.8 million being sold and the market’s value plummeting by 11%. The market didn’t return to its pre-crash level until 1954.

Signs of an impending crisis had been identified many months before the crash, with the Federal Reserve warning on the 25th March of the dangers of speculation on the stock market. The warning coincided with a slowing down of the American economy, but investors continued to purchase stocks that gradually pushed the market to a peak of 381.17 points on the 3rd September.

However, in late September many of the larger investors began to sell their shares, and by the middle of October the market was in freefall as more and more people began panicking about the plummeting prices. Although Black Thursday was the first day of large-scale panic selling, the losses were dwarfed by those the following week when around 16 million shares were sold. Within just a few days of trading, $30 billion dollars had been wiped off the stock market. This was the Wall Street Crash. Although the scale of panic selling did slow down, the market continued its downward trajectory for over 2 years, finally reaching an all-time low on the 8th July 1932. By that time the effect of the Great Depression had crept around the world, acting as a catalyst for the world war that was to follow.

Dow Jones in the Great Depression

Account of the Dow Jones at its lowest point in the Great Depression

On the 8th July 1932, the Dow Jones Industrial Average – a key indicator of the value of America’s biggest companies – fell to its lowest point during the Great Depression that began with the Wall Street Crash. From its high of 381.17 on September 3rd 1929, the Dow plummeted by almost 90 per cent to 41.22. The last time it had closed that low was in June 1897.

The spectacular collapse of the Dow reflected the issue at the heart of the Great Depression – the panic selling of US stocks that wiped out private investors and many of the companies they had invested in. This had a knock-on effect outside the stock market, where those very companies were forced to lay off workers. In Cleveland, 50 per cent of the city’s workers were unemployed by the end of 1932. The downward economic spiral was eventually reversed, but the Dow itself didn’t return to its 1929 high point until 1954.

The response of American President Herbert Hoover to the economic crisis was not viewed favourably by ordinary American people. He gave numerous radio speeches in which he attempted to reassure them that things would improve. Although he never actually said, “prosperity is just around the corner” his speeches suggested it. But things continued to decline and shanty towns, known as Hoovervilles, appeared around the country as people moved from place to place in search of work. Protesting war veterans were attacked by the army. And, with promises of a ‘New Deal’ Franklin D Roosevelt went on to defeat Hoover in the 1932 presidential election.