Roaring 20’s Harlem Renaissance - Great Migration - Hundreds of thousands of African Americans move north to big cities - 1920 - 5 million of the nation’s 12 million blacks(over 40%) lived in cities Jazz - A music genre that originated at the beginning of the 20th century, within the African-american communities of the Southern United States. - Its roots lie in the fusion of African-Americans. Key Terms - Consumer Culture - culture where social status, values, and activities are centered on the consumption of goods and services. - Jazz Age - Came about from the African-American culture/communities in the 1920’s - Flappers - generation of young Western women in the 1920s who wore skirts, bobbed their hair, listened to jazz, and flaunted their disdain for what was then considered acceptable behavior - Great Migration - A movement of African-Americans to northern states and other areas in hopes of living a better and fulfilling life - Harlem Renaissance - A movement that came about from the African-American culture which introduced many new styles of clothing, as well as the creation of Jazz music Timeline - 1903 Wright Brothers fly the first motorized airplane - 1920 Prohibition Begins - 1920 Warren G Harding elected president - 1921 Albert Einstein receives Nobel Prize in physics - 1922 First radio commercials aired - 1927 Charles Lindbergh makes solo transatlantic flight The Great Depression Key Terms - Nativism - Immigration Act of 1924 - Prohibition (1920-1933) - Return to normalcy - Great Depression - Reconstruction Finance Corporation Timeline - 1920 Prohibition Begins - 1921 Congress passes Emergency Immigration Act - 1923 Warren G Harding dies in office and is succeeded by Calvin Coolidge Postwar Boom Before the Depression - Average income rose 43% - Factory production rose 72% - Business profits rose 80% - Stock market at an all time high - Americans had more $ to spend, especially on automobiles, but also radios, refrigerators, etc. Warning Signs, by 1929 - Unemployment and poverty were on the rise - Farmers losing lands - Consumption decreasing due to poverty - Stock prices dropping Black Tuesday - October 29, 1929 - Stock Market Crash #1 Economic Policies - High tariff rates between the U.S. and countries they traded with - World Trade dropped by 65% - WW1 debts not being paid back - America’s economy is directly affected by other nations economic activity #2 Unchecked Stock Speculation #3 Stock Market & Banking Collapse #4 Overproduction of Goods - Due to high tariffs, goods could not be exported and sold #5 Decline of Farming Industry - Due to the collapse of banks, farmers were to operate, nor have the ability to sell machines and crops due to the lack of funds. - Dust storms caused by poor farming techniques Dust Bowl - Drought, Bad Farming Techniques - Huge Dust Storms - Flee to CA & face prejudice “Okies” #6 Unequal Distribution of Wealth - 1929, 1% of Americans own 59% of wealth - 60% below poverty line - Corporations don’t pass profits on to workers, replace workers with machines The New Deal - America Gets Back To Work A New Deal Fights The Depression - 1932 Election - Roosevelt Wins What was the new deal? - FDR hoped to do three things - Provide relief for the poor - Wanted the economy to recover to normal - Wanted to reform economy to prevent economic decline #1 Help Banks - Americans Gain Confidence in their Banks - Next, FDR passed the Glass-Steagall Act - Established the Federal Deposit Insurance Corporation - The FDIC insured account holders up to $50,000 - More 100 Days Activity - Federal Securities Act - Required stock info to be accurate and truthful - Agricultural Adjustment Act - Raised crop prices by lowering production - Tennessee Valley Authority - Focused on direct relief to hard hit area created ambitious dam projects Critics Emerge Supreme Court Reacts - By the mid 1930’s the supreme court struck down the NIRA as unconstitutional - The Court also struck down the AAA on the grounds that agriculture was a public matter Court Packing “Scandal” - FDR went to Congress and raised Court justices from 9 to 15: passed - Tarnished FDR’s reputation Another Critic - Huey Long - Senator from Louisiana Second New Deal - Although the economy has improved during FDR’s first term, things did not get better Social Security Act - One of the most important achievements of the New Deal era was the creation of the Social Security System - The act passed in 1935 had 3 parts - Old-Age pension - Unemployment compensation - Aid to families with dependent children & disabled(welfare) The Green New Deal - Journal: Does it help or hurt the economy? - 10 year national mobilization - Bring greenhouse gases to zero - Upgrade buildings to zero emissions - New jobs, free education and healthcare and free affordable housing - Response: Elon Musk solar power plan, 100x100mi plot of solar panels to power the entire United States 24/7 Legacies of the New Deal - FDIC - Banking insurance critical to sound economy - CCC (Civilian Conservation Corps) - Created in 1933 by FDR to combat unemployment - CWA (Civilian Works Administration) - FHA (Federal Housing Administration) - FSA (Federal Securities Agency)
