Entry 72: War and Economics

A major war and major economic disaster marked the first decades of the twentieth century and had an important influence on the literary and artistic movements of the time. What similarities can you find with the beginning of the last century and the beginning of the one we are now living in? What differences do you see? How do you think historians of the future will describe the past twenty years? If the literature and art of the beginning of the last century was called “modern”, what might the label be for the contemporary period?

• Basically, there are many similarities when we take a close look at the beginning of the last century and comparing it with the beginning of the one that we are now living in. How so? Many people might ask. Let's look back at the question: a major war, the Great War, also known as World War I (as almost everyone knows, the "war that was supposed to end all wars"). Now think, are there any wars currently happening now? Yes, a lot, in fact. For example, there are many wars that are currently happening in the Middle East, as well as Southwest Asia. Then, let's look at the second part of the question: major economic disaster. This is very obvious and evident in the European economic crisis, where countries such as Greece, Portugal, Italy, and Spain are all in debt, and bringing down the other countries of the European Union. This recession in economy in Europe is influencing the economy at a global scale. Prices are also increasing drastically with global financial crises as well as the lack or dispute of natural and raw resources. This is making it hard for many people to survive, seeing as they cannot even fulfill their most basic needs.