BELLWORK
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Bellwork: March 21st 1. How did WWI impact Brazil’s economy? 2. How did WWI impact Canada’s political status? 3. With regards to pre-WWI economies, what did Canada and Latin America have in common? 4. THINKER: Historically, war tends to improve a nation’s economy. Thinking back to WWI, make a prediction How did WWI impact the U.S. economy?
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During the war, Great Britain and the U.S. invested a lot of money in Latin America. What was this money used for? What was Latin America’s major role in the global economy? List five reasons why Latin America went into a recession following the outbreak of WWI. Describe “The Tragic Week.” - PowerPoint PPT Presentation
Transcript of BELLWORK
Bellwork: March 21st1. How did WWI impact Brazil’s economy?
2. How did WWI impact Canada’s political status?
3. With regards to pre-WWI economies, what did Canada and Latin America have in common?
4. THINKER: Historically, war tends to improve a nation’s economy. Thinking back to WWI, make a prediction How did WWI impact the U.S. economy?
The Impact of the First World War on the Americas
• Our next major topic of study is the Great Depression in the Americas.
• In order to better understand the causes of the GD, we need to look at the post-WWI economies of the U.S., Canada, and Latin America.
• For the rest of class (and potentially homework), you are going to read about Canada and Latin America on pgs. 173-179 in the HOA textbook and complete the corresponding worksheet.
HOMEWORK• Finish the Canada and Latin America portion of the worksheet.• Do NOT complete the back – we are doing an activity with that
later this week. • Since I am gone, I expect you to pay attention and read the
section in detail. This is independent learning!• Bring this worksheet, EA guide, and IA timeline next class.• If you did NOT turn in your annotated bibliography (SHAME!), I
expect you to come talk to me during tutorial tomorrow. You will lose 5 points for each day it is late. Trust me….you do NOT want to bet behind on this assignment.
BELLWORK: Block 21. During the war, Great Britain and
the U.S. invested a lot of money in Latin America. What was this money used for?
2. What was Latin America’s major role in the global economy?
3. List five reasons why Latin America went into a recession following the outbreak of WWI.
4. Describe “The Tragic Week.”5. How did Latin America’s
economy change post-WWI?
6. THINKER: At the Pan American Financial Conference in 1915, the U.S. made the point that the outbreak of war highlighted the problem of relying on European countries economically and suggested that “a more hemispheric approach was desirable.” What do you think the U.S. means by this? If they want economic influence in the region, would this create the same problems as European influence?
Review Discussion• Now that you know how WWI
effected Latin America’s economy, make a prediction What do you think happened to the Canadian and U.S. economies post-WWI?
• The U.S. came out of WWI a wealthy nation, while Britain was in debt! This change in economic power heavily effected the dependency of the Americas on the U.S. economy!
Canadian Economy post-WWI• Pre-WWI: dependent on
imports from Britain.• Due to wartime demand and
the decline of British imports, textile and chemical production expanded.
• War accelerated Canadian manufacturing
• Canada went through a similar recession as Latin America immediately after war
• By the mid-1920’s the Canadian economy boomed, mostly due to trade with the U.S.
Canadian Economy Post-WWI• Pre-WWI: Traded
primarily with Britain• Post-WWI
– Britain in debt– U.S. is the new world
economic leader– U.S. investment in
Canada increased– Trade with U.S. increased
(ex: 75% of all paper produced was exported to U.S.)
Canadian Economy Post-WWI• Mid-1920’s: Recovery!• Wheat was important
export• Huge growth in
exploitation of natural resources– Paper mills– Mining– Forestry
U.S. and Canadian Relations• Instead of lending money to Canada (like Britain did)
….. U.S. investors set up Branch Plants in Canada• Branch Plant: businesses owned & controlled by
U.S. companies, but operated in Canada– Benefit for the U.S.: they did not have to pay taxes to
import products into Canada…. Because these products were produced in Canada
– EX: Car Companies (GM, Ford, Chrysler) replaced all Canadian car makers…. And did not pay a tax in Canada)
U.S. and Canadian Relations• Canadians happy with U.S. investments
– No one really considered long-term consequences
• Canadian economy based on Primary Industries (raw materials – mining, lumber, fish, etc.)– U.S. became major buyer
• U.S. used these raw materials to make new products and sell them on the global market
Timber: Quebec City
To transport goods, the Canadian
government expanded the
railroad(British
Columbia)
Urbanization of Canada• The growing economy & industries caused more people
to move to the cities for jobs• Huge wave of immigration post-WWI to Canada• Less labor needed in agriculture (replaced by machinery)• Modern Canadian cities formed at this time (Vancouver,
Toronto, Ottawa, Montreal) • Problems brought on by urbanization: slums, poverty,
pollution
Partner Discussion• Foreign ownership of companies in Canada
has been extremely controversial. Why do you think this is? Is U.S. influence in Canada more of a positive/negative thing?
• How do you think the changes in the Canadian economy effected their relationship with Britain?
Current U.S. Branch Plants in Canada• General Motors Canada, Canada's largest automotive manufacturer, Canadian owned
by Detroit-based, General Motors
• Wal-Mart Canada, wholly owned by Wal-Mart of the US
• Ford Motor Company of Canada, owned by the American Ford company
• Imperial Oil, controlled by ExxonMobil, which owns 69.8% of its stock.
• Ultramar fuels, owned by US-based Valero
• Costco, whose Canadian operations are the 7th largest private company, is based in Seattle
• Sears Canada, one of the largest retailers, controlled by the US Sears Holdings Corporation
• IBM Canada, owned by IBM
• Safeway Canada supermarkets, owned by Safeway Inc.
• McDonald's Canada, owned by McDonald's
• Pratt & Whitney Canada owned by US United Technologies Corporation
More IA Fun
Post-WWI U.S.
Economy
From boom to bust
Review: Why did the U.S. vote against ratification of the Treaty
of Versailles?
Post-WWI U.S. Economy• For the rest of class (and potentially homework), you
are going to read about the impact of WWI on the U.S. economy.
• Pgs. 159-160• When you are finished, complete the “review:
economic comparison” portion to analyze similarities/differences between the post-WWI economies of Canada, Latin America and the U.S.
Discussion• Post-WWI, the U.S. experienced an
economic “boom.” Why? What contributed to the growth of the U.S. economy? List as many reasons as possible!
U.S. Economy Post-WWI• 1920’s America saw a
dramatic change in business and industry; including:– New industries– Higher wages– Better working conditions– More corporations
Americans as Consumers• In the 1920’s America’s standard of living
improved as necessities and luxuries were more affordable.
• Higher wages and buying on credit contributed to this trend.
• Products were mass produced• This concept of mass production was started
by Henry Ford.
Henry Ford• He was one of the first industrialists to act on the
realization that each worker is also a consumer.• In an era where $2 a day was considered a good
pay, Ford paid his workers $5• Reduced the workweek at his plant from a 48-hour,
6-day week to a 40-hour, 5-day week.• Ford was able to do this because his methods of
production made tremendous profits. ($264,000/day)• He was the first to use the assembly line to mass
produce his Model-T cars.
MODEL-T
Assembly Line• A method of mass
production in which every employee has a specific task.
• With the assembly line, workers with fewer skills were able to operate specialized machines designated for specific tasks.
Automobile’s Effect on America• The car defined the U.S. in the 1920’s.• In 1927, Americans owned 4 out of 5 of the world’s
cars, averaging 1 car for every 5.3 persons. • The Model-T transformed the car to an item
moderate-income families could afford.• The booming automobile industry created a rise in
other industries: steel, gasoline, glass, rubber, garages, restaurants, tourism, and camps.
• At the end of WWI, the U.S. had only 7,000 miles of roads. By 1927, U.S. had 50,000 miles.
Just a day at the office……Henry Ford (2nd from right) meets with John Parameter (Canadian PM), Calvin Coolidge (US Pres) & Thomas Edison
Consumerism• Consumerism: increasing
consumption of goods is economically desirable
• Contributors to consumerism:– Radio– Advertising– High Wages– Buying on Credit
Discussion• As you know, the U.S. emerged from WWI
as the world’s leading creditor, investor, and wealthy nation. This caused countries within the region to become more linked and dependent on the U.S.
• Analyze the advantages and disadvantages of this reliance on the US economy.
Discussion• Compare/contrast the post-WWI
economies of Latin America, Canada, and the United States.
America the Story of Us: Boom• This episode focuses on the “boom” of the
U.S. economy post-WWI.
• As we watch, take notes on how the economy changed and why!!!
• Be ready to discuss Monday!
