renaissance in Germany. During the worst phase of hyperinflation in 1923, the clubs and bars were full of speculators who spent their daily profits so they would not lose the value the following day. Berlin intellectuals responded by condemning the excesses of what they considered capitalism and demanding revolutionary changes on the cultural scenery. Influenced by the brief cultural explosion in the Soviet Union, German literature, cinema, theatre and musical works entered a phase of great creativity. Innovative street theatre brought plays to the public, and the cabaret scene and jazz bands became very popular. According to the cliché, modern young women were Americanized, wearing makeup, short hair, smoking and breaking with traditional mores. The euphoria surrounding Josephine Baker in the metropolis of Berlin for instance, where she was declared an "erotic goddess" and in many ways admired and respected, kindled further "ultramodern" sensations in the minds of the German public. Art and a new type of architecture taught at "Bauhaus" schools reflected the new ideas of the time, with artists such as George Grosz being fined for defaming the military and for blasphemy. Artists in Berlin were influenced by other contemporary progressive cultural movements, such as the Impressionist and Expressionist painters in Paris, as well as the Cubists. Likewise, American progressive architects were admired. Many of the new buildings built during this era followed a straight-lined, geometrical style. Examples of the new architecture include the Bauhaus Building by Gropius, Grosses Schauspielhaus, and the Einstein Tower. Not everyone, however, was happy with the changes taking place in Weimar culture. Conservatives and reactionaries feared that Germany was betraying its traditional values by adopting popular styles from abroad, particularly those Hollywood was popularising in American films, while New York became the global capital of fashion. Germany was more susceptible to Americanization, because of the close economic links brought about by the Dawes plan. In 1929, three years after receiving the 1926 Nobel Peace Prize, Stresemann died of a heart attack at age 51. When the New York Stock Exchange crashed in October 1929, American loans dried up and the sharp decline of the German economy brought the "Golden Twenties" to an abrupt end. Social policy under Weimar A wide range of progressive social reforms were carried out during and after the revolutionary period. In 1919, legislation provided for a maximum working 48-hour workweek, restrictions on night work, a half-holiday on Saturday, and