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The Roaring Twenties Economic Reasons Rising stock prices

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Presentation on theme: "The Roaring Twenties Economic Reasons Rising stock prices"— Presentation transcript:

1 The Roaring Twenties Economic Reasons Rising stock prices
Increased production Higher wages Automobile industry

2 IMPACT OF THE AUTOMOBILE
HENRY FORD’S AUTOMOBILE REVOLUTION Production methods – assembly line, mass production Raised wages 40 hour workweek and weekends off Model T affordable for every day Americans IMPACT OF THE AUTOMOBILE 1. Stimulated industries involved in manufacturing 2. Gas stations 3. Road building 4. Vacation Industry 5. Advertising

3 CONSTITUTIONAL AMENDMENTS
BOOMING ECONOMY Consumer revolution – affordable goods, electricity Advertising Credit Bull Market (stocks) Buying on the Margin (stocks) CONSTITUTIONAL AMENDMENTS 18TH AMENDMENT – PROHIBITION 19TH AMENDMENT – WOMEN CAN VOTE

4 The Business of Government
Harding Administration – ‘Return to Normalcy’ - Pro business - Unqualified leaders (good times) - Corruption = Tea Pot Dome Scandal Calvin Coolidge – “The chief business of the American people is business.” - Pro business - Honest - Legislation should not be used for social change - France and England must repay war debts US loans money to Germany to pay England and France to pay the United States

5 Social and Cultural Tensions
Urban Modernism Electricity Consumer Revolution Leisure time Value Education Science over religion Rural Traditional No electricity No money for goods Long hours Muscle and crops Fundamentalism

6 Examples: Scopes Trial Ku Klux Klan (expands geographically and includes more people to hate) Immigration quotas (nativism/Red Scare) Flappers Prohibition Organized Crime

7 MASS CULTURE Leisure time – movies, sports Radios and phonographs Advertising Heroes – Babe Ruth, Charles Lindbergh, movie stars ART AND CULTURE WWI directly influences artists’ approach Uncertain mood “Lost Generation” of writers – Willa Cather, William Faulkner, F. Scott Fitzgerald, Ernest Hemingway, Gertrude Stein

8 HARLEM RENAISSANCE Great northern migration to escape Jim Crow laws in the South Huge cultural and artistic explosion of African American art, music and literature - Langston Hughes, Zora Neales Hurston Black consciousness, black pride - Marcus Garvey The Jazz Age – Louis Armstrong, Duke Ellington, Bessie Smith

9

10 NEW ROLES FOR WOMEN The right to vote Political office Marry later, less children More leisure time – other pursuits Flappers

11 VOCABULARY Henry Ford Mass production Assembly line
Consumer revolution Installment buying (credit) Buying on the margin Bull market Return to normalcy Teapot Dome Scandal Harding Coolidge Eighteenth Amendment Volstead Act Bootlegger Nineteenth Amendment Modernism Fundamentalism Scopes trial Clarence darrow Ku Klux Klan Prohibition Harlem Renaissance Jazz – Jazz Age Louis Armstrong Langston Hughes

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