European Economy and Society After WWII 14.7

Bretton Woods Conference (1944) Representatives of 44 countries sought to create financial world without trade restrictions and economic nationalism Creates the International Monetary Fund (IMF) and World Bank to provide loans to struggling countries

Postwar Economic Issues Western Europe faced MAJOR financial problems “Economic Miracle” – Western Europe rebounded incredibly well Causes Marshall Plan Korean War stimulated economic activity Keynesian Economics – spend money to kickstart economy Higher demand and solid work ethic

Postwar Economic Issues Popularity of the Welfare State European governments now take care of the people Reduced class tensions Britain becomes model for welfare state Guest Workers High levels of immigration begin to affect culture Nationalists worry about the future of their “identity”

Energy Crisis of 1970s OPEC increased oil prices after US’s support of Israel in Middle Eastern affairs Triggered economic decline due to high energy prices Stagflation

Social Consequences of Economic Crisis Trouble for communism and Soviet Union High pessimism, but “welfare state” politics saves people from devastation Return of conservatism in politics to control spending Margaret Thatcher Socialist/Keynesian approach in France fails Francois Mitterand

European Society Post-WWII Science, Class, Youth, Women, Religion

Science and Technology TREND  Make science applicable to life Radar for national defense, electronic computers, Manhattan Project Space Race captured imagination of the world Brain Drain – many of Europe’s best minds came to America

Changes in Class Structure Middle class dominates due to access to higher education…society was being “leveled” Welfare state allowed for all people to have same opportunities from government Allowed for more disposable income Consumerism led to higher standard of living Gadget Revolution

Youth Movement & Counterculture General rebellion against parents, authority figures, and the status quo in the late 1960s Student Revolts Causes Opposition to wars Influence of Marxist thinking Rejection of materialism Problems in higher education

French Student Revolts, 1968 Students took over university, taking violent means if necessary Seeking better conditions for students Students call for general strike from industrial workers De Gaulle sends in troops to stop students and gives better wages to industrial workers

Women! Post World War II Trends Women began to marry earlier Sharp increase in women working for wages outside home Decline in overall birthrate

Women’s Rights Movement Simone de Beauvoir (The Second Sex, 1949) Women have been trapped by men and must act to escape the role as “other” Betty Friedan (The Feminine Mystique, 1963) Women have to conform to “wife and mother” role Goals of Movement New statutes in the workplace Rights to divorce and abortion Physical protections

Religious Changes Second Vatican Council (Vatican II, 1962-1965) Allows for use of vernacular in Catholic mass Ideological Changes Other Christian groups should be respected Relaxed dress Acquittal of Jews in Jesus’ death Religion today – extremely secular 2005  only 21% of Europeans see religion as “very important” Only 15% attend church regularly (44% of Americans)