AP EURO ECONOMIC RECOVERY AND EURO UNITY – Flashcards

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Bretton Woods Conference (1944)
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This laid the foundations for modern international monetary system
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Bretton Woods Conference (1944)
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Between 1958 and 1971 the value of national currencies were based on gold and the U.S. dollar
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Bretton Woods Conference (1944)
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GATT created IMF CREATED World bank created
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General Agreements of Tariff and Trade
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GATT
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International Monetary Fund
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IMF
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GATT
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sought to stimulate international trade by lowering tariffs and other trade restrictions
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IMF
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Designed to provide short-term loans to struggling countries to prevent economic crisis and anarchy
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World Bank
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Provided long-term loans to countries for economic growth
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United Nations
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UN; created in 1945
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UN's framework
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This had been agreed to during WWII by the Allies at the Yalta Conference in February, 1945
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Security Council
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Consisted of 12 nations (including 5 permanent members) that had the authority to actively maintain peace throughout the world
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Permanent members of UN Security council
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U.S., USSR, Britain, France and China
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General Assembly
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Included virtually every country in the world Had the power to advise but could not enforce its recommendations
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Significant economic hardship
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Scarcity of food, runaway inflation, black markets plagued the economy A number of Europe's important cities lay destroyed or damaged
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After WW2
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Many people believed Europe was finished; recovery from such a cataclysm seemed almost unthinkable
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Germany
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which country suffered the worst after WW2
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Christian Democrats
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emerged as a dominant political movement in several countries
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Christian Democrats
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Rejected authoritarianism & narrow nationalism; had faith in democracy and cooperation
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Socialist push for change
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social reform and political transformation created the foundations for a great European renaissance
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led christian democrats in Italy
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Alcide De Gasperi
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Socialist influence
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social benefits came to equal a large part of the average worker's wages
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Charles de Gaulle
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inspiring wartime leader of the Free French, re-established the free and democratic Fourth Republic
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Catholic party
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provided some of best postwar leaders
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In France Fourth Republic
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Socialist influence was significant: some industries were nationalized by the government
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The Fifth Republic
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gave the president (initially, Charles de Gaulle who returned to power in 1958) far more power
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Clement Attlee
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socialist Labour party leader defeated Winston Churchill and the Conservatives in 1945
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Labour party
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socialist leader was Clement Attlee
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"welfare state."
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Attlee moved toward establishment of this
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Britain after WW2
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Many industries were nationalized, gov't provided each citizen with free medical service and taxed the middle and upper classes more heavily
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Konrad Adenauer
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began long, highly successful democratic rule in the Federal Republic of Germany (West Germany)
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Christian Democrats
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_______ became West Germany's majority party for a generation
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"Economic Miracle"
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unprecedented economic growth in European history
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Cause of Economic miracle
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Marshall Plan aid from the U.S. helped western Europe begin recovery in 1947 Korean War in 1950 stimulated economic activity
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Cause of Economic miracle
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Economic growth became a basic objective of all western European governments Governments accepted Keynesian economics to stimulate their economies
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Keynesian economics
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Governments were willing to use deficit spending in order to make more resources available for the people
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the Common Market
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Many economic barriers were eliminated and a large unified market emerged
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Ludwig Erhard
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German economic recovery led by finance minister
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Ludwig Erhard
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Combined a free-market economy & an extensive social welfare network inherited from the Nazi era
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French economic recovery
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Combined flexible planning and a "mixed" state and private economy to achieve the most rapid economic development in French history
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Jean Monnet
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led the economic recovery in france: economic pragmatist and architect of European unity.
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French economic recovery
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France used Marshall Plan aid and the nationalized banks to funnel money into key industries, several of which were state owned
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Creation of the "welfare state"
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Western European countries sought to provide universal services to all their people.
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The "welfare state"
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would be universal and not just aimed at the poor and unemployed Significantly reduced class tensions that had existed in Europe for centuries
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of the "welfare state"
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As long as the European economy in western and central Europe continued to grow in the 1950s and 1960s, governments could more or less meet the expenses ___
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Britain
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became the model for the "welfare state" and a "mixed economy" under the socialistic Labour Party and prime minister Clement Atlee
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economic downturn and high inflation in the 1970s
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governments experienced larger deficits, increased national debts, and pressure from conservatives to lower taxes.
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Conservatives
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argued that the "welfare state" had become excessive while high taxation was stunting economic growth
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Margaret Thatcher
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conservative that led Britain began privatizing industries that had been state-owned and restricting labor strikes
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cause for "guest workers"
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The dramatic increase in the economy coupled with a low birth rate meant that there weren't enough workers available to meet the demands of the economy
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nationalists in the receiving countries
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they became troubled by how the "guest workers" seemed to be affecting the culture and economy
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Three major streams for European unity
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Political: Council of Europe Military: has never truly materialized Economic: most successful with the development of the European Union
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Council of Europe
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European federalists hoped the Council would quickly evolve into a true European parliament with sovereign rights, but this did not happen
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Britain opposed council of europe
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with its empire and its "special relationship" with U.S., was opposed giving any real political power—sovereignty—to the council
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European Coal and Steel Community
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ECSC; created in 1950 via the Schuman Plan
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ECSC
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Largely organized by French statesmen Jean Monnet and Foreign Minister Robert Schuman Proposed an international organization to control & integrate European steel and coal production
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ECSC
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Britain refused to enter ___ since it had significant interests in its Commonwealth and its close trade relationship with the U.S.
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Immediate economic goal of ECSC
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a single competitive market without national tariffs or quotas
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"The Six"
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By 1958 coal and steel moved freely among six nations of the European Coal and Steel Community
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Far-reaching political goal of ECSC
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bind six member nations so closely together economically that war among them would become unthinkable and virtually impossible.
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European Economic Community
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EEC or the "Common Market"
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Treaty of Rome, 1957
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Created the European Economic Community (EEC), or the "Common Market"
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First goal of treaty of rome
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Gradual reduction of all tariffs among "the Six" in order to create a single market almost as large as the U.S.
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Euratom
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European Atomic Energy Agency) also created to develop and regulate nuclear energy
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Communist response to euratom
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COMECON (their own economic association)
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General Charles de Gaulle
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Bitter colonial war in Algeria resulted in the election in 1958 of
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General Charles de Gaulle
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who established the Fifth French Republic and led as president until 1969
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France
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who stepped back from european unity?
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General Charles de Gaulle
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Withdrew France from what ? saw as a "US controlled" NATO and developed France's own nuclear weapons program
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European Union
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EU; went into effect in 1992
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German Chancellor Kohl and French President Mitterrand
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? sought to extend the EU to include a single European currency and a common defense and foreign policy
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Maastricht Treaty, 1991
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Promised most radical revision of the EC since its beginning
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Eurodollar—or euro
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became the single currency of the EU in 2002 integrating the currency of 12 western and central European nations
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European Monetary Union (EMU)
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The integration of currency(euro) was organized by the ?
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Richard Nixon
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U.S. President ? took the U.S. off gold standard in 1971
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US off gold standard
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? Effectively ended the "Bretton Woods" system of international currency stabilization
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cheap oil
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The postwar economic boom was fueled by ?, especially in western Europe
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Organization of Petroleum Exporting Countries
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OPEC
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OPEC
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? dramatically increased oil prices in Europe and the U.S. in retaliation for their support of Israel in the Yom Kippur War against Egypt and Syria.
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energy crisis
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Price revolution in energy, coupled with the upheaval in the international monetary system, plunged the world into its worst economic decline since the1930s
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"Stagflation"
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? hit in the mid-1970s: increased prices and increased unemployment
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Social consequences of the 1970s economic crisis
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Created condition for collapse of communism in late 1980s. However, the "welfare state" created in the postwar era prevented mass suffering and degradation that had been reminiscent of the Great Depression in the 1930s
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Margaret Thatcher
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Prime Minister ? (1979-1990) of Great Britain
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Francois Mitterand
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led his Socialist party and Communist allies in launching a vast program of nationalization and public investment designed to spend France out of economic stagnation. (Keynesian approach)
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Francois Mitterand
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the policy had failed and ? was forced to impose a wide variety of austerity measures for the remainder of the decade
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joined together on massive scale during WWII
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For first time in history, "pure theoretical" science and "practical" technology ("applied science") effectively ?
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radar
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British scientists developed ? to detect enemy aircraft.
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Jet
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aircraft developed by Germany
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Electronic computers
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? further developed; had barely come into existence before 1939
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Manhattan Project
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The development of the atomic bomb was the most spectacular result of scientific research during the war
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"Big Science"
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? became new model for science after WWII
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"Big Science"
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? Combined theoretical science with sophisticated engineering in a huge organization
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U.S.
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emerged as leader in Big Science after WWII
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Space Race
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(part of Cold War competition to achieve technological superiority) is a quintessential example of "Big Science" at work
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Sputnik
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an orbiting satellite using long-range rockets
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Resulted in development of ICBMs (Intercontinental Ballistic Missiles)
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US fearful Soviets could now launch a nuclear missile into space and then down to U.S
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Yuri Gagarin
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1961, Soviets sent world's first cosmonaut into orbit.
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John F. Kennedy
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U.S. President ? responded to cosmonaut into orbit by increasing funds for space
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1969 U.S.
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Apollo Program put the first man on the moon
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"Brain Drain"
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U.S. attracted many of Europe's best scientists during 1950s and 1960s—seen as the American Challenge
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American Challenge
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Some Europeans feared Europe was falling behind U.S. in science, technology, and most dynamic industrial sectors of the late 20th century
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Massive growth of the scientific community
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Highly specialized modern scientists and technologists worked as members of a team, which completely changed work and lifestyle of modern scientists
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Rise of the middle-class
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? was largely the result of increased access to higher education
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European society
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? became more mobile and democratic
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Changes in the structure of the middle class
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? were influential in the trend toward a less rigid class structure
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Causes for change in rise of middle class
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Rapid industrial and technological expansion created in large corporations and gov't agencies demanded larger numbers of scientists and managers
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Causes for change in rise of middle class
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Top managers and ranking civil servants represented the model for new middle class of salaried specialists; well paid and highly trained
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Causes for change in rise of middle class
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Passed on opportunity for advanced education to their children The old propertied middle class lost control of many family-owned businesses after WWII
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lower classes
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Structure of ? also became more flexible and open
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Millions of rural workers continued to more to cities
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Resulted in drastic decline in one of Europe's most traditional and least mobile groups.
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"welfare state"
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European governments reduced class tensions by further expanding the ? : health care, family allowances, maternity grants, public housing
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Consumerism
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worked to level Western society Sparked by rising standard of living giving more people disposable income
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"Gadget revolution"
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Europeans bought washing machines, vacuum cleaners, refrigerators, dishwashers, radios, TVs, and stereos. Purchase of goods often done by greatly installment (e.g. credit cards)
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Increased social welfare
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? resulted in more disposable income and less need to save for old age.
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Leisure and recreation became major industries as workers worked fewer hours.
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Increased attendance in cultural events: concerts and exhibitions. Travel industry expanded most dramatically
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Counter-Culture
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rebellion against parents, authority figures and status quo
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"counter-culture"
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New generation influenced by revival of leftist thought created ? Some youth rebelled against conformity and boredom of middle-class suburbs
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Rock music
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? helped tie counter-culture together
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Increased sexual behavior among many young people during 1960s and 1970s
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Age of first sexual experienced reduced significantly Growing tendency of young unmarried people to live together on a semi-permanent basis with little thought of getting married or having children
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Causes of the emergence of international youth culture in 1960s
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Mass communication and youth travel linked countries and continents together Baby boom meant youth became unusually large part of population and exercised exceptional influence on society as a whole
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Postwar prosperity and greater equality
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? gave youth more purchasing power than ever before.
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cause of student revolts
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Opposition to U.S. war in Vietnam triggered revolutionary ferment among youths Believed older generation & US fighting immoral & imperialistic war against Vietnam
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cause of student revolts
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Students in western Europe shared US youth's rejection of materialism and belief that postwar society was repressive and flawed
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Problems in higher education
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classes were overcrowded; little contact with professors; competition for grades was intense; demand for even more practical areas of study to qualify for high-paying jobs after college
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French student revolt, 1968
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a. Students took over the university, leading to violent clashes with police b. Most students demanded changes in curriculum and real voice in running the university c. Appealed to industrial workers for help; spontaneous general strike spread across France d. To many it seemed the French Fifth Republic might collapse e. De Gaulle called in troops and called for new elections (which he won decisively) f. The mini-Revolution collapsed.
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Early women's rights advocates
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Olympe de Gouges and Mary Wollstonecraft during the French Revolution demanded equality for women based on the Declaration of the Rights of Man and Citizen (1789)
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Millicent Garrett Fawcett and Emmeline Pankhurst
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were important figures in the British suffrage movement in the Late-19th and early 20th century
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review
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c. Women first received the right to vote in Finland and Norway in 1906 and in Britain, Germany and the Soviet Union after World War I. d. Women relegated to the home in fascist Italy and Nazi Germany e. Women finally got suffrage in Italy and France after World War II. f. Switzerland was one of the last to provide suffrage: 1980
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domestic
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Western European culture once-again emphasized the ? role women should play in the home
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women
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Motherhood occupied a much smaller portion of a women's life than at the turn of the century. Birth control use increased with oral contraceptives and intrauterine devices
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practically disappeared
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opportunities for women of modest means to earn cash income at home ?
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Thus, sharp increase across Europe and North America
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of married women who became full-time and part-time wage earners outside the home
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Rising employment
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? of married women became a powerful force in drive for women's equality and emancipation
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Simone de Beauvoir
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The Second Sex (1949) -- existentialist ideas Argued women were in essence free but had almost always been trapped by particularly inflexible and limiting conditions Only by courageous action and self-assertive creativity could women become free and escape the role of inferior "other."
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Betty Friedan
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The Feminine Mystique (1963) -- American Argued that women expected to conform to false, infantile pattern of femininity and live for their husbands and children Founded (NOW); inspired European groups
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National Organization for Women
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NOW; founded by Betty Friedan
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Goals of women's rights movements
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• New statutes in the workplace: laws against discrimination, "equal pay for equal work," and maternal leave and affordable day care. • Gender and family questions: right to divorce (in some Catholic countries), legalized abortion, needs of single parents (usually women) and protection from rape and physical violence
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Second Vatican Council
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Most important council of the Catholic Church since the Council of Trent
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Second Vatican Council changes
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Allowed for use of the vernacular in the Catholic liturgy Scripture was declared to be the foundation of the Church Declared that although the Catholic Church was the one true Church, other Christian groups who shared a belief in Christ were to be respected
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