Lecture 5: Lecture 5: The Long Crisis The Long Crisis

BeginsBeginsApril 7, 2010April 7, 2010

Wilson’s idealismWilson’s idealism ““We created this Nation, not to serve We created this Nation, not to serve

ourselves, but to serve mankind.”ourselves, but to serve mankind.”

““The world must be made safe for democracy. The world must be made safe for democracy. Its peace must be planted upon the tested Its peace must be planted upon the tested foundations of political liberty. We have no foundations of political liberty. We have no selfish ends to serve. We desire no conquest, selfish ends to serve. We desire no conquest, no dominion. We seek no indemnities for no dominion. We seek no indemnities for ourselves, no material compensation for the ourselves, no material compensation for the sacrifices we shall freely make. We are but one sacrifices we shall freely make. We are but one of the champions of the rights of mankind. We of the champions of the rights of mankind. We shall be satisfied when those rights have been shall be satisfied when those rights have been made as secured as the faith and the freedom made as secured as the faith and the freedom of nations can make them.” of nations can make them.”

Why the system failedWhy the system failed

US isolationismUS isolationism Diverging US and European Diverging US and European

InterestsInterests German resentmentGerman resentment

Economic Troubles in Economic Troubles in the 1920sthe 1920s

Germany unable to pay reparationsGermany unable to pay reparations Dawes Plan (1924): US loans to Dawes Plan (1924): US loans to

Germany, which pays back France, Germany, which pays back France, which pays back USwhich pays back US

Trade barriers Trade barriers HyperinflationHyperinflation

Why the system failedWhy the system failed

US isolationismUS isolationism Diverging US and European Diverging US and European

InterestsInterests German resentmentGerman resentment Economic troublesEconomic troubles End of balance of powerEnd of balance of power Diverging attitudes toward warDiverging attitudes toward war Russian RevolutionRussian Revolution

In capitalist society… In capitalist society… ““each man has a particular, exclusive sphere of activity, each man has a particular, exclusive sphere of activity,

which is forced upon him and from which he cannot which is forced upon him and from which he cannot escape. He is a hunter, a fisherman, a herdsman, or a escape. He is a hunter, a fisherman, a herdsman, or a critic, and must remain so if he does not want to lose critic, and must remain so if he does not want to lose his means of livelihood; while his means of livelihood; while in communist societyin communist society, , where nobody has one exclusive sphere of activity but where nobody has one exclusive sphere of activity but each can become accomplished in any branch he each can become accomplished in any branch he wishes, society regulates the general production and wishes, society regulates the general production and thus makes it possible for me to do one thing today thus makes it possible for me to do one thing today and another tomorrow, to hunt in the morning, fish in and another tomorrow, to hunt in the morning, fish in the afternoon, rear cattle in the evening, criticize the afternoon, rear cattle in the evening, criticize after dinner…without ever becoming hunter, after dinner…without ever becoming hunter, fisherman, herdsman or critic.”fisherman, herdsman or critic.”

-Karl Marx & Friedrich Engels, -Karl Marx & Friedrich Engels, The German The German IdeologyIdeology, 1845, 1845

The Bolshevik RevolutionThe Bolshevik Revolution

Russia agrarian, undevelopedRussia agrarian, undeveloped Tsarist government fell apart, Lenin Tsarist government fell apart, Lenin

seized powerseized power Took Russia out of the warTook Russia out of the war Civil warCivil war CollectivizationCollectivization Empire with “self-determination” of Empire with “self-determination” of

nationsnations