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1 Warm Up: Describe the economic policy of 1920s Republicans with one term. DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes.

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Presentation on theme: "1 Warm Up: Describe the economic policy of 1920s Republicans with one term. DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes."— Presentation transcript:

1 1 Warm Up: Describe the economic policy of 1920s Republicans with one term. DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.” U. S. History January 2015

2 2 Class work: Notes 14.2 and 3 (test Th and FR) A BUSINESS BOOM Nothing over here until we add questions later… Before the 1920s: No fast food No shopping centers No billboards or highways Value THRIFT: if you need it, you get it with cash, the essentials Credit: immoral DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.”

3 3  **1920s:  Mall (strip)  A&W root beer  Roads/roadside – think “Cars”  Businesses dependent on selling, create “installment plans”, advertising convinced America credit is OK  Interest: 11-40%  CONSUMER economy: depends on big spending by consumers; incomes UP 28% 1914-1926  Spend: credit, cost less, advertising, money available, new products increased profits leads to higher wages which leads to spending…starts all over  DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.”

4 4 DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.” What is advertising about today? What do they use to convince folks to BUY? How similar is this to the 1920s?  Budget: 60% to cars; 70% furnishings; 80% vacuum, radios, cleaners, refrigerators; 90% water machine  ELECTRICITY: fridge to the H2O machine; 4X 1913-1927 users; lights 16- 63%  Again: Rural vs Urban, wind powered generators  ADVERTISING: GE toasters, ovens, sewing machines, coffee, irons, vacuums (before it was basic info, 1920s more about image, insecurity, fear, celebrities)  PRODUCTIVITY: a worker’s level of output; GNP: goods and services country produces in a year; 1921-1929 6% growth per year compared to 1910-1920<1% growth: why? Resources, management, technologies, oil, assembly line

5 5 DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.” Ford and the Auto 1880s Germany 1892 Charles and Frank Duryea 28 years=8 million cars 1920s=15million Model T: Horseless carriage; 1896 quadricycle 1908: 30K Model Ts sold Assembly line, didn’t invent but increased efficiency Produce more in less time=sell low enough for ordinary citizen can afford One specialized job, but strained workers 24 seconds =Model T 1908-1927 50% cars made in the world are Model T 1915 cost $390: black paint dried faster, cheaper

6 6 Ford: the goodand not so much 1914 $5 pay per day Don’t fight (WWI) Greenfield Village Violence used to fight unions WWI: Americanization: English/Civics Home inspection Stubborn Anti-Semite 1918 Dearborne Scapegoats DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.”

7 7  GM came out with colors!  1925 Model T in colors!  1927= no more Model T, now Model A  Vertical consolidation: iron mines (steel mills, coal mines); plant and production; forests, glassworks, RR, ships  CHANGES bc of Auto:  Hwy 66*steel  Garage*rubber  Car dealers*gas  Motels*glass  Restaurants*leather  Campgrounds  Gas stations  Suburbs expand= housing

8 8 DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.”  NO BOOM   Unskilled laborers (African American migrants)  Agriculture: Farm prices down, borrowed for machines and land in good times, can’t pay  Cotton textiles/soft coal: postwar=low profits, wages  RR: mismanagement, competition, labor unions

9 9 The Economy in the Late 1920s 14.3 To what extent did these grow out of natural optimism? How should warning signs have been managed Do we have warning signs now? Are we managing them well?  CONFIDENT, robust, innovation  Danger signs:  Uneven prosperity  Debt  Roller coaster stock market  Surplus manufacturing Optimism: medical advances: less whooping cough, diptheria, infant deaths; greater life expectancy (59 and 63, up 10 years) Hoover in 1928: Rugged individualism; abolition of poverty and fear, had been secy of commerce, WWI food relief DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.”

10 10 DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.” What is our ue now? What is healthy?  1925 stocks$27B  1928 stocksUp$11B, it’s the weathervane, NYT  1929 stocks$87B  Wages up 40% since 1914  Unemployment 4%  Bruce Barton: The Man Nobody Knows; Jesus in Business  Raskob, corporate leader: everybody ought to be rich  Save $15 week, in 20 years; have $400 month income  Welfare Capitalism  Labor strikes, 1919 stable  AVOID UNION! Intervention, strikes, high productivity  Raise wages, benefits, company loyalty, morale, company unions  Less labor unions

11 11 DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.”  Warning signs: 1.Uneven prosperity -rich+richer -huge corporations not small businesses; 200 companies get 49% industry -families: 1929 20K families (.1%) had >$100K (34% country’s savings); 71% individual and families make <$2500 a year (minimum standard of living, 80% have NO savings), kids even worked; taxes didn’t help *Mellon, secy $$ (rich) pushed to lower taxes only wealthy paid then, they benefitted Personal debt: affordable/available; b$ fear debt, waited Playing Stock Mkt. Get rich quick. -speculation: make high risk investment to get return, B4 WWI, buy with cash, now…

12 12 DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.” -buy on margin: invest for a “sale price” (10- 50% of real cost of stock) then have a “loan” to pay for the rest- if you don’t “win”, you lost your money AND have DEBT, b4 just lost money. Brokers can charge interest rates and demand payment any time Too many goods, too little demand -industries slow -auto slump in 1925: ripples to steel, rubber, glass -housing also ripples Trouble for farmers and workers -debt extra time 6K farms fail -McNary-Haugen Farm Relief 1927, 28: Coolidge vetoed: not govt job to increase crop prices -factory workers/conditions  cotton and textiles, mining, 56 hour week for 16-18cents= $10 week

13 13 Exit Fill in the “L” of your KWL chart from the first day back. If you didn’t make one or you have lost it, brainstorm everything about the 1920s you have learned. Test tomorrow in lab 252. DOK: 1; S. 2; Learning Target: I can describe people, events, ideas and changes of the “roaring 20s”, the “Jazz Age.”

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