The History of the Twentieth Century

Churchill was out of Parliament for a couple of years following the 1922 general election. When he returned, it was as a Conservative and as chancellor of the exchequer in the new Tory government of Stanley Baldwin.

History seemed to teach that the gold standard was the key to prosperity. But the postwar world was a different place. Economist John Maynard Keynes dismissed the gold standard as a "barbarous relic."

The RCA partners settled their dispute, new technologies appeared on the horizon, including television, and the radio series, an ongoing show chronicling the adventures of a fixed cast, became a new form of entertainment.

Radio broadcasts were begun by companies that wanted to sell radios and were offered free of charge. But as the radio craze bloomed, it became apparent that broadcasting was going to have to pay its own way somehow.

From its invention, radio was conceived as a means for wireless two-way communication. Radio telegrams. Radio telephones. But as the technology matured, some in the field saw the potential for radio to become much more.

After Lenin's death, the Soviet Union faced immense challenges in defining socialism. Stalin ended the New Economic Policy to push for aggressive industrialization through the Five-Year Plan. This period saw significant power struggles within the Bolshevik party, particularly between Trotsky and Stalin. The catastrophic famine of the early 1930s led to millions of deaths and sparked debates about government accountability. Meanwhile, the evolution of radio technology emerged, intertwining with the state's responsibilities during these crises.

The death of Sun Yat-sen came at an inopportune moment, just as the Nationalists were poised to regain control over China. Chiang Kai-shek emerged as the Party's new leader. He ended the United Front and attacked and killed Communists.

By 1922, the Lloyd George government was challenged on many fronts, which led to a general election and a new prime minister, Andrew Bonar Law. Perhaps the biggest challenge was debt repayment to the United States.

Prohibition came as something of a surprise, and there was widespread flouting of the law. A new drinking culture emerged, and criminal gangs made more money, and became more violent, than ever.

By the Revolutionary era, male British colonists in North America were among the heaviest drinkers the world had ever seen. 150 years later, alcoholic beverages were banned in the US and Canada.