Political & Economic Trends of the 1920’s

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Presentation transcript:

Political & Economic Trends of the 1920’s

The Conservative Political Mood of the 1920’s Harding’s “Return to Normalcy” triumphs after WWI End of Progressive Era & return of laissez-faire Nativism & Isolationism Predominant among Democrats and Republicans

Presidents of the 20’s “Old Guard” Republicans Dominate Harding, Coolidge & Hoover

Largely a “Do-Nothing” Figurehead Rampant Cronyism Returns Warren G. Harding (1921-1923) Largely a “Do-Nothing” Figurehead Rampant Cronyism Returns Ex: “Ohio Gang” & Teapot Dome Scandal

Anti-Union & pro corporation former Calvin Coolidge 1923-1929 Anti-Union & pro corporation former Mass. Gov. Becomes President Famous slogan: “The Business of America is Business”

Herbert Hoover (1929-1933) “Great Engineer” supports “Rugged Individualism” Compelling personal story of hard work & volunteerism Biggest Mistake…Bad Timing

Ex: Kellogg-Briand Pact 20’s U.S. Foreign Policy: Idealistic Isolationism Ex: Kellogg-Briand Pact

II. 1920’s Economic Trends Andrew Mellon’s Policies Sect. Of Treasury (1921-1929) Cut Corporate Taxes Cut Income Taxes Cut Inheritance Taxes Collect WWI Debt Raise Tariffs “Streamline” Regulation Results: Manufacturing Booms & Ag sector struggles

Ex: Henry Ford A New “Industrial Revolution” Increased Efficiency due to Standardization & Mass Production of “Consumer Durables” drive the boom Ex: Henry Ford

More Available & Affordable “Consumer Durable Goods”

increasingly breaks from more modern & efficient 20’s Corporate Growth Coolidge calls factories “temples” and workers “worshipers” – Respect for corporations at a high Trends “Consolidation” of major corporations (ex: GE, RCA, DuPont) Ownership increasingly breaks from management – more modern & efficient Growth of “white collar” sector, wages go up, weekends off, pensions and health insurance available to some – to avoid gov’t involvement

Easy Credit & Professional Ads Spur 1920’s Boom

New Chain Stores Increase Standardization & Consumerism

How does Prohibition illustrate unintended political and social consequences of relatively radical progressivism?

Leads to social tension New technologies & economic boom encourage a faster pace of change that clashes with traditional values. Not all like the changes of 1920’s Leads to social tension between old & new HOMEWORK…

Why would the younger generations (18-25 year olds) Watch Parts 2 & 3 of Boom & Bust [linked at my website] Why would the younger generations (18-25 year olds) be more likely to feel optimistic as they experience the social and economic changes occurring?