Political & Economic Trends of the 1920’s

A Decade of Political and Econ. Backlash Wilson elected as less progressive in 1912 Progressivism continued w/…. Economic incentives to get involved in the war What is likely to happen in the subsequent decade with so many Americans disillusioned?

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

After the failure of the Treaty of Versailles What were some of the consequences that Senators predicted for taking an isolationist stance? After the failure of the Treaty of Versailles

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

Though consumerism took hold, employment opportunities were less predictable than during wartime. Tulsa Race Riots Racial strife stemmed from decline in economy, increase in unemployment after war and shifting demographics.

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?