Four Phases of the Business Cycle • Recovery • Prosperity • Recession • Depression • • Purchasing savings profits employment wages general mood investments
Four Phases of the Evolution of Capitalism What is Capitalism? Why is it Evolution and not Revolution? Mercantilism-Colonial period Industrial-Manifest Destiny Finance-Imperialism Regulated-New Deal
Republican Presidents 1920’s Republican Presidents believed in Laissez-faire economic policies… “Hands Off”
Warren G. Harding “He looked like a President” •
“Return to Normalcy”
Teapot Dome scandal
Arnold Palmer professional Golfer and businessman
Red Scare A. Mitchell Palmer
Sacco and Vanzetti Anarchists
Jazz Age Louie Armstrong •
Flappers •
Prohibition “Noble Experiment”
Al Capone “Scarface”
Saint Valentine's Day massacre
THE ST. VALENTINE'S DAY MASSACRE
Izzy and Moe Prohibition Cops •
The Harlem Renaissance and the Flowering of Creativity Langston Hughes
Scopes Monkey trial
John T. Scopes
Scopes Monkey trial
F. Scott Fitzgerald- One of the “Lost Generation of Writers”
. Charles Lindbergh was the first to fly solo across the Atlantic in 1927
Ku Klux Klan Rises Again in the 20’s
President Calvin Coolidge “Silent Cal” •
President Herbert Hoover “Rugged Individualism”
Boom To Bust Why? What Factors led to the Crash? What was the reaction from the White House and President Hoover to the stock market crash ?
What factors led to the Crash? Here are some of the explanations proposed: 1. Stocks were Overpriced 2. Massive Fraud and Illegal Activity 3. Margin Buying 4. Federal Reserve Policy 5. Public Officials' Repeated Statements
Question: • “What do you think are the most important changes of the 1920’s? ” Consider all groups
Bonus Army World War I Vets
Did the Republican President’s set the stage for the Depression? Hoover and the Super soaker “Return to Normalcy” “Business of America is Business” “Rugged Individualism” Laissez-faire Stock Crash
President Franklin D. Roosevelt
Roosevelt’s New Deal
Great Depression
Dust Bowl
Dust Bowl “Oakies”-Rt. 66
Teapot Dome Bonus Army Flappers Harlem Renaissance What other concerns from 20 & 21?
Hoover v. Roosevelt Rugged Individualism v. New Deal and Today
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