Vocab List 17 -Supply-side economics -Cooperative Individualism -Isolationism -Teapot Dome Scandal (209) -Five power Naval Limitation Treaty -Kellogg-Briand Pact -Dawes Plan

Politics & Foreign Policy Roaring Twenties Politics & Foreign Policy

I. Background A) Why is it called “Roaring Twenties?” Best Era Ever Jazz, Movies, Radio, Celebrities Gangsters, illegal liquor, sexuality is embraced Increased wealth (for some) B) Republicans in power → Business lobbyists in power Good for economy in short run Weakened unions Lower income/bsns taxes C) Post WWI → Want to prevent war in future

Refresher from last time

II. Politics A) Warren G Harding - “return to normalcy” 1920 Good guy but picked scandalous cabinet ex 1: Attorney General paid $$$ to not prosecute criminals ex 2: Teapot Dome Scandal - Paid $$$ by private business for contract Dies of Heart Attack 1923 B) Calvin “Silent Cal” Coolidge 1924: “Chief business for Americans is Business” -Silent Cal 2011: “I’m not a businessman-- I’m a business, man” -Jay Z Supply-side economics: Lower taxes → consumers spend extra $$$ Spend more $$$ → Economy grows → We wealthier

Video on Silent Cal

III. Preventing War A) Isolationism - staying out of world affairs 1) We refused to ratify Treaty of Versailles 2) Did not join League of Nations 3) Neutrality Acts - would not arm countries at War B) 1922 Five-Powers Treaty - Italy/France/Japan/Britain/USA agree to 10 year halt on construction of war ships C) 1928 Kellogg-Briand Pact - USA + 14 other countries agree to abandon war and settle disputes peacefully

IV. Big Picture Before WW1 - USA a debtor nation End of WW1 - France/Britain/Germany owe USA $10 billion in war debts 1920 = We dominate economically + Pro-business politically will further boost.

Modern Isolationsim