Unit 6 Chapter 20

1. Unit 6 Chapter 20 Identify and Explain changes American society experienced with the mobilization of its economic and military resources during WW II.

2. PROPAGANDA ideas that are often exaggerated and that are spread in order to help a cause

3. The first is freedom of speech and expression -- everywhere in the world. In the future days, which we seek to make secure, we look forward to a world founded upon four essential human freedoms. The second is freedom of every person to worship God in his own way -- everywhere in the world. The third is freedom from want -- which, translated into world terms, means economic understandings which will secure to every nation a healthy peacetime life for its inhabitants -- everywhere in the world. The fourth is freedom from fear -- which, translated into world terms, means a world-wide reduction of armaments to such a point and in such a thorough fashion that no nation will be in a position to commit an act of physical aggression against any neighbor-- anywhere in the world.

4. The first is freedom of speech and expression -- everywhere in the world.

5. The second is freedom of every person to worship God in his own way -- everywhere in the world.

6. The third is freedom from want – which, translated into world terms, means economic understandings which will secure to every nation a healthy peacetime life for its inhabitants -- everywhere in the world.

7. The fourth is freedom from fear – which, translated into world terms, means a world-wide reduction of armaments to such a point and in such a thorough fashion that no nation will be in a position to commit an act of physical aggression against any neighbor-- anywhere in the world.

9. MOBILIZING AMERICANS Private Snafu http://youtu.be/siEK24Pq2xc

11. BONDS http://youtu.be/KI8jKZ9HH3U

16. Private Snafu – Rumors http://youtu.be/o9_zszHmRP0

17. Private Snafu http://youtu.be/WMqPv6YJMoI

18. Rationing – the controlled distribution of scarce resources, goods, or services

21. http://youtu.be/3eoE12ywDzA Sylacauga, Alabama

25. MOBILIZING AN ECONOMY What did the U.S. government do to create a wartime economy? Standard 22 Price Controls

26. It exercised general responsibility over the nations economy.

27. Price Floor Surplus of Military goods P S Guaranteed Price Above equilibrium! D Q Business was guaranteed a fixed price and generous profit. price floor – government regulated minimum price at which a product can be sold or wages can be set.

28. Unemployment: Surplus of Labor Price Floor S (people wanting to work) P $7.40 Price Floor Peq $5 Market Equilibrium D (jobs available) Qeq 75 Q # of jobs available # of jobs Being sought 15 45 90 In millions

29. Deficit Spending – Using money that isn’t there. Remember, our economy was recovering from the Depression.

30. GROSS NATIONAL PRODUCT Value of all goods and services produced annually by a nation

32. NATIONAL LABOR BOARD • Created by FDR to control wages and prices • “hold the line” order restricting the increase of wages. • Price ceiling – government regulated highest price at which a product can be sold or wages set.

33. Price Ceiling P S Peq $5 Shortage Price Ceiling D Qeq 75 Q 15 Qs 45 90 Qd In millions

34. Practical Application

35. NATIONAL LABOR BOARD • INFLATION – GENERAL RISE IN WAGES AND PRICES • CONSUMER PRICE INDEX (CPI) – an index of the changes in the cost of goods and services to a typical consumer over a set period of time.

36. COLA • Cost of Living Adjustment • % increase to wages in order to compensate for rising prices.

37. CONTROLING INFLATION SALE OF BONDS MONEY SUPPLY

38. NATIONAL LABOR BOARD

41. http://youtu.be/J0wJu9dY8xs How American Industry Won WW II