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Published byBernice Young Modified over 9 years ago
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Politics and Business in the 1920’s 3 Republicans were elected President during the ‘20’s:Warren Harding, Calvin Coolidge, Herbert Hoover. Laissez-faire is back! All favored Big Business-end of Prog. Reforms Revenue Acts of 1921 + 1926: Lowered taxes for the wealthy and businesses. Trickle Down Theory-economic theory-1980’s lowering taxes for wealthy-wealthy will spend more on goods-creating demand and jobs Tariffs are raised-encourage buying American
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A Return to Normalcy
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1920’s Politics
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Harding’s Policies 1 st election with women voters “Trickle-Down” theory Corruption > Teapot Dome Scandal led to distrust of Harding and federal government Harding dies on Aug 2, 1923 > Coolidge (VP) finishes term
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The Business of America is Business
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1920’s Politics
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..”We are closer to the end of poverty than at any time in history..”
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1920’s Politics
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Calvin Coolidge Was easily elected in 1924 –good times Was pro-business Also followed the “trickle-Down”theory Prosperity throughout the country – Profits & wages grew, unemployment came down – Called “Coolidge Prosperity” Except for farmers > overproduction from the war and high expenses and low prices – No assistance from federal gov’t> vetoed by Coolidge
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Reasons for 20’s Prosperity(wealth)Boom Years Mass Production-Frederick Taylor used of Scientific Management-study of how to make things efficient-assembly line.-produced more, cheaper-Ford’s Model T-1908-$850 (9 million in the 1920’s) Employment-demand for goods led to more jobs, higher salaries-Auto-Steel, Rubber, Suburbs- Credit-companies offered installment plans- buy now pay later-75% of all goods w/credit. Stock Market Speculation-Buying Stocks- Companies make $$-Risky for investors
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Criticism of Wealth/Materialism The Lost Generation- Group of writers who criticized the materialism of the decade. F. Scott Fitzgerald-The Great Gatsby
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Social Changes in the 1920’s Speakeasies> secret clubs that served alcohol > Prohibition (18 th Amendment) Radio> became more affordable – 1/3 families owned a radio by mid-20’s – Broadcasted sports, news, comedy shows – 1 st broadcast was the Presidential Election results – Charles Lindbergh’s non-stop flight across the Atlantic
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Social Changes in the 1920’s Entertainment – Art : Museum of Modern Art (1929) > Georgia O’Keefe and Pablo Picasso – Sports: Babe Ruth and Ty Cobb; Gene Tunney and Jack Dempsey – Movies: Charlie Chaplin and silent films 1927 > The Jazz Singer (Al Jolsen) was the first major film with sound
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Social Changes in the 20’s During WW1, workers were needed for the war effort, so many Black Americans moved to Northern Cities such as Chicago, Detroit and NY. -Great Migration In NYC many Black Americans moved to Harlem Many were artists, musicians and writers who contributed to what became known as The Harlem Renaissance.
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Jazz
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Langston Hughes-Poet Marcus Garvey-Black Newspaper Owner
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Women in the 20’s 19 th Amendment 1920 Women’s Suffrage/vote Flappers-Young women who challenge societies view of women Smoked +Drank in public Short hair+skirts, more makeup + jewelery
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The Scopes Monkey Trial Tennessee didn’t allow teaching of Darwin’s Theory of Evolution Science Teacher John Scopes broke this law. A trial followed, and the argument arose, should this scientific theory be allowed in direct conflict to Creationism-Adam and Eve.
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The Scopes Monkey Trial
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The Monkey Trial
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The Scopes Monkey Trial
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Comparing Decades Socially, the 1920’s are often compared to which decade? 1960’s- Why? African Americans, Women, Illegal Drug Use. Economically & Politically the 20’s are often compared to which decade(s)? 1980’s + 2000’s- Why? Trickle Down Theory, Favor Wealthy and Business-Republicans in power
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Stock Market Crash End of the 1920’s = Economic Slowdown Election of 1928 – Hoover (Rep) vs. Al Smith (Dem) – No Gov’t Intervention vs. Gov’t Intervention – Hoover wins easily
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Stock Market Crash Get-Rich-Quick-Theory – Buy stock or land> buy low, sell high – Buying on margin – More profits that were made the more speculators that invested – Stock prices rose so high that people stopped buying – 10/24/29 people begin to sell Brokers made marginal call (asking for loans to be paid back People sold stock to pay of loans 10/29/29 = all selling and no buying=STOCK MARKET CRASH Effected everything – banks-businesses-THE PEOPLE
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Marcus Garvey, Flappers, Lost Generation, Frederick Taylor, Trickle Down Theory, Speakeasies, Sacco/Vanzetti, Scopes Trial, Henry Ford, Herbert Hoover, Warren Harding, Calvin Coolidge, Langston Hughes, F.Scott Fitzgerald, George Ruth, Duke Ellington, Charlie Chaplin, Revenue Acts
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