the roaring ‘20s and the great depression. economics

The Roaring 20s and the Great Depression

Economics

The United States Became the worlds top economic power following WWI German & British economies had been wrecked by WWI The world economy became completely tied to the American economy

Economic Boom A rise in the standard of living during the 1920s led to increased sales of consumer goods which in turn created more jobs A rise in the standard of living during the 1920s led to increased sales of consumer goods which in turn created more jobs Mechanization of factories led to greater efficiency and a drop in prices for manufactured goods, further encouraging consumerism Mechanization of factories led to greater efficiency and a drop in prices for manufactured goods, further encouraging consumerism

Economic Imbalances Industrialized nations were producing more goods than were needed Demand for raw materials dropped after WWI, hurting non-industrialized nations and farmers Factory workers won higher pay, causing the price of manufactured goods to rise

Stock Speculation A long period of growth in the stock market convinced millions to take a risk and invest in stocks A long period of growth in the stock market convinced millions to take a risk and invest in stocks Investors began buying on margin borrowing the money to buy stocks, believing those stocks would grow in value and allow them to easily repay the loans; but, if prices dropped, they panicked and sold quickly to avoid taking large losses Investors began buying on margin borrowing the money to buy stocks, believing those stocks would grow in value and allow them to easily repay the loans; but, if prices dropped, they panicked and sold quickly to avoid taking large losses

Black Tuesday In late October, 1929 stock prices began to slip, triggering a mass sell-off as investors panicked In late October, 1929 stock prices began to slip, triggering a mass sell-off as investors panicked On Tuesday, Oct. 29 the bottom fell out the market lost $15 billion in a single day On Tuesday, Oct. 29 the bottom fell out the market lost $15 billion in a single day The market continued to plunge for the next 3 years and didnt recover until after WWII a period known as the Great Depression The market continued to plunge for the next 3 years and didnt recover until after WWII a period known as the Great Depression

Banking Collapse Banks had made numerous loans to stock speculators and had also invested heavily themselves in the stock market Banks had made numerous loans to stock speculators and had also invested heavily themselves in the stock market When the market collapsed, banks lost big and had to stop lending When the market collapsed, banks lost big and had to stop lending With credit restricted, the economy went into a recession With credit restricted, the economy went into a recession Many banks could not absorb their losses and closed; people who had deposited their money in these banks lost everything this caused further panic and people began to withdraw their money from banks Many banks could not absorb their losses and closed; people who had deposited their money in these banks lost everything this caused further panic and people began to withdraw their money from banks

Scientific Discoveries

Medical Advances Canadian scientists discovered how to treat diabetes using insulin British scientists discovered penicillin for treating infections French scientists discovered how to treat tuberculosis

Sigmund Freud 1856 1939 Austrian doctor who pioneered the field of psychoanalysis Developed the talking therapy for treating simple neuroses Attempted to explain how dreams develop Believed that all human motivation was driven by unfulfilled sexual desires Developed idea of ego & id Almost all of his theories were incorrect, but they led to more research into psychology

Marie Curie 1867 1934 Polish-French scientist Won Nobel Prizes in physics and chemistry Discovered 2 new radioactive elements (radium & polonium) Unfortunately, her research also killed her she died from radiation poisoning

Albert Einstein 1879 1955 German / American Non-practicing Jew who left Germany for the US due to growing anti-Semitism Developed his theory of relativity (E=mc) which explains the relationship between time and space His theories helped in the development of the atomic bomb

Visual Artistic Movements

Cubism: art made up of many broken angles and planes

Pablo Picasso 1881 1973 Spanish artist Known for painting in a multitude of styles, but is perhaps most famous for his development of cubism 10 of his paintings have sold since his death for over $60 million EACH, including two for over $100 million

Abstract Art: art made up of lines, colors, & shapes with no recognizable subject

Paul Klee 1879 1940 Swiss artist Experimented with many different forms of art, including music he even painted music Deeply affected by the death of many of his friends in WWI Forced out of Germany by the Nazis, moved back to Switzerland

Dadaism: art without discipline or morality which is designed to shock

Hans (Jean) Arp 1886 1966 French-German Born in territory disputed by France & Germany Faked insanity to avoid serving in the German army in WWI Fled to Switzerland during WWII

Surrealism: art that attempt to portray the workings of the unconscious mind

Salvador Dali 1904 1989 Spanish artist Eccentric, liked the attention of fame Kicked out of art school Disowned by his family over his art, sexuality, and religious views

Bauhaus Architecture

Frank Lloyd Wright 1867 1959 American architect Also designed furniture, stained glass windows Designed over 500 buildings, mostly private homes, many of which have been preserved as historic landmarks

Dorothea Lange 1895 1965 Photojournalist Lange's photographs humanized the tragic consequences of the Great Depression and profoundly influenced the development of documentary photography

Langes Photos

Literary Movements

The Lost Generation Term used to describe the generation which reached adulthood during the 1920s These young people were lost in that they felt trapped by the corrupt, greedy society in which they lived and their own experiences in WWI

Erich Maria Remarque 1898 1970 German, served in WWI All Quiet on the Western Front (1929) Eventually moved to U.S. in 1930s after Nazis banned his work His sister was executed by the Nazis just for being related to him

F. Scott Fitzgerald 1896 1940 Author of The Great Gatsby (1925) Wrote numerous short- stories (including The Curious Case of Benjamin Button) and screenplays in addition to his 4 novels Died from a heart attack induced by alcoholism

Ernest Hemingway 1899 1961 Author of novels such as The Old Man and the Sea, A Farewell to Arms, The Sun Also Rises, and For Whom the Bell Tolls Rugged adventurer who liked bullfighting, hunting, mountain climbing, and other dangerous hobbies Committed suicide due to depression and alcoholism

T.S. Eliot 1888 1965 American author, playwright, and poet Famous works include the play Murder in the Cathedral, and poems The Love Song of J. Alfred Prufrock, and The Waste Land

Eugene ONeill 1888 1953 American playwright His plays were among the first to include speeches in American vernacular and involve characters on the fringes of society, engaging in depraved behavior, where they struggle to maintain their hopes and aspirations, but ultimately slide into disillusionment and despair

John Steinbeck 1902 1968 Author of The Grapes of Wrath, a Pulitzer Prize winning novel about the tragedies which befell his fictional family of Oklahoma farmers during the Dust Bowl Also wrote Of Mice and Men, a story about the tragic relationship between two poor migrant farmers

William Faulkner 1897 1962 1897 1962 Nobel Prize winning novelist and short-story writer Nearly all of his works are set in the South His unique style often included using stream of consciousness and focused on a wide range of characters

Motion Pictures

1920s Hollywood

Silent Films Motion pictures initially did not have sound, so audiences had to be able to understand plots through entirely visual means; this forced actors to use highly exaggerated motions Many early films were comedies because slapstick provided effective visuals Most successful actor of the 1920s was comedic star Charlie Chaplin

Metropolis (1927) Silent film made in Germany which many consider to be the first significant science fiction film ever made Silent movies, since they used no spoken language, could be effectively played anywhere in the world

The Jazz Singer (1927) First talkie or film which had a synchronized soundtrack for dialogue This films success spelled the end of the silent picture era

Hollywood Escapism As the Great Depression set in, people desperately wanted to escape their troubles, even if only for a few hours As the Great Depression set in, people desperately wanted to escape their troubles, even if only for a few hours Movies offered a cheap form of escapism (most theaters were also heated and air-conditioned as well, allowing people to escape the chill or swelter of their apartments!) Movies offered a cheap form of escapism (most theaters were also heated and air-conditioned as well, allowing people to escape the chill or swelter of their apartments!)

Marx Brothers Popular comedic act of the period, they starred in such films as Animal Crackers (1930), and Duck Soup (1933) Made feature films from 1921 to 1957 13 of their films were included in the top 100 comedies ever made

Walt Disney 1901 1966 Created Mickey Mouse who first achieved success in the cartoon short Steamboat Willie (1927) Disney would go on to grow an animation, film, and theme park empire

http://youtu.be/BBgghnQF6E4

Snow White and the Seven Dwarfs

The Wizard of Oz

Gone With the Wind

Dracula & Frankenstein

Sports Many spectator sports were extremely popular, including golf, tennis, boxing, and swimming Baseball had become Americas pass time Football began to gain prominence with the founding of the National Football League (NFL) in 1920

Red Grange 1903 1991 The Galloping Ghost The first American football star, Grange played for the University of Illinois and then for the NFLs Chicago Bears as a star running back

Jack Dempsey 1895 1983 World Heavyweight champion from 1919 to 1926 First boxer to draw more than $1 million in ticket revenues for a fight

Babe Ruth 1895 1948 Played for 21 years (1914 35), mostly for the NY Yankees Hit 714 home runs (still 3 rd most ever) Lived a celebrity lifestyle drank heavily, smoked, and womanized a trend he started that lives on today with many professional athletes

Harlem Renaissance African-American cultural movement of the 1920s and 1930s, centered around the Harlem neighborhood of NYC Included new literary, artistic, and musical styles which would go on to heavily influence American culture of the mid and late 20 th century

y Claude McKay 1889 1948 Writer and poet who wrote novels Home to Harlem, Banjo, and Banana Bottom One of the first authors of the Renaissance, McKay represented a new African- American voice, one which rejected the ideals of Booker T. Washington, W.E.B. Du Bois, and Marcus Garvey, in favor of taking pride in his culture and pursuing full civil rights and racial solidarity

Langston Hughes 1902 1967 American novelist, playwright, short story writer, and magazine columnist Pioneered new form of poetry known as jazz poetry Much of his work focuses on the theme black is beautiful and takes pride in the diversity of African- American culture

The Cotton Club 1920 1940 Famous Harlem nightclub which featured jazz and blues music Catered to a mostly white audience, so marked the first significant exposure for many whites to black musical styles

The Apollo Theater Harlem theater which originally opened in 1914, but didnt become a predominantly black venue until 1934 Fell into decline in the 1960s and even became just a simple movie theater before being revived in 1983; today it has protected federal landmark status

Louis Armstrong 1901 1971 Nicknamed Satchmo Jazz trumpeter and singer Popularized scat or singing using disjointed syllables instead of words Rose to fame quickly during the 1920s and was equally popular with both black and white audiences

Duke Ellington 1899 1974 Orchestra leader, pianist, and song writer Elevated jazz from an urban musical form to a nearly classical level with his big band style Led his orchestra for over 50 years

Billie Holiday 1915 1959 Crossed jazz over to standard pop (popular music) Also a song writer, helping write such hits as God Bless the Child and Lady Sings the Blues Unfortunately, she became a lifelong drug addict and died from liver failure after years of legal troubles

Josephine Baker 1906 1975 Dancer, singer, and actress Baker was the first African American to star in a major motion picture, to integrate an American concert hall, and to become a world-famous entertainer Extremely popular in Europe, her exotic stage show featured her scantily clad or even nude In later years she became heavily involved in the Civil Rights movement

Charlie Poole 1892 1931 North Carolina musician who, along with his band the North Carolina Ramblers, became the first major national country music recording act When not recording, he earned money as a textile mill worker and as a moonshiner Died of an alcohol induced illness at just 39

Radio Serials Many peoples chief form of entertainment was the radio, which featured episodic programming much like television does today, including such action characters as the Green Hornet and Lone Ranger, as well as numerous soap operas (dramatic programming aimed at women and usually sponsored by laundry soap companies)

Flappers Many young women rebelled against the mores of their parents by wearing shorter skirts, shorter hairstyles, smoking, drinking, dancing, and dating without adult chaperones

The Charleston

the roaring ‘20s and the great depression. economics

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