©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved.McGraw-Hill Chapter 24: The New Era Preview: “The 1920s ushered in a ‘New Era’ in which key features of modern life took hold: mass society, mass culture, and mass consumption. Urban America led the way in rejecting social conventions that had limited Americans, especially women and children, while more traditional regions defended their ways of life through immigration restriction, Prohibition, Fundamentalism, and a reborn Ku Klux Klan.” The Highlights: The Roaring Economy The Roaring Economy A Mass Society A Mass Society Defenders of the Faith Defenders of the Faith Republicans Ascendant Republicans Ascendant The Great Bull Market The Great Bull Market

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill The Roaring Economy Technology and Consumer Spending Technology and Consumer Spending –As industrial economy matured, more consumer goods became available –Improved productivity helped keep prices down 24-2

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill The Booming Construction Industry The Booming Construction Industry –Residential construction doubled as people moved from cities to suburbs –Construction stimulated other businesses: steel, concrete, lumber home mortgages, and insurance The Automobile The Automobile –Henry Ford –Doctrine of high wages –A car culture The Business of America The Business of America –Corporate consolidation –Managerial elite 24-3

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill 24-4

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill Welfare Capitalism Welfare Capitalism –The American Plan –On family in six was labeled as “chronically destitute” The Consumer Culture The Consumer Culture –Consumption rested on tow innovations: advertising to help people buy, and credit to help them pay –Role of advertising –Installment buying as credit 24-5

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill The New Woman The New Woman –Margaret Sanger –Equal Rights Amendment Mass Media Mass Media –Motion pictures –Role of the radio –Print journalism –Charles Lindberg A Mass Society 24-6

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill 24-7

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill Youth Culture Youth Culture –“Peer culture” emerged –Casual sex remained rare: what changed was the point at which sexual intimacy occurred “Ain’t We Got Fun?” “Ain’t We Got Fun?” –Spectator sports –Jazz “For all the frivolity and rebelliousness it promoted, the new youth culture tended to fuse the young to the larger society by promoting widely held values—competitiveness, merit through association, service, prestige”(798). 24-8

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill The Art of Alienation The Art of Alienation –Expatriates –Ezra Pound, Ernest Hemingway, Sinclair Lewis, F. Scott Fitzgerald A “New Negro” A “New Negro” –Marcus Garvey –Harlem Renaissance 24-9

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill Defenders of the Faith Nativism and Immigration Restriction Nativism and Immigration Restriction –Sacco and Vanzetti case –Mexican Americans –National Origins act (1924) was the culmination of nativism The “Noble Experiment” The “Noble Experiment” –Eighteenth Amendment –Consequences of Prohibition 24-10

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill Fundamentalism versus Darwinism Fundamentalism versus Darwinism –The Fundamentals –Scopes trial KKK KKK –KKK was reborn in Georgia in 1915 –The new Klan drew on the culture of small- town America –Members came mostly from the middle and working classes “As scientific, religious, and cultural standards clashed, how much should religious beliefs influence public education? In the wake of the Scopes trial, the question was resolved in favor of secular over religious instruction, at least in public schools”(805)

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill Republicans Ascendant The Politics of “Normalcy” The Politics of “Normalcy” –Warren G. Harding –Calvin Coolidge The Policies of Mellon and Hoover The Policies of Mellon and Hoover –Associationalism –Hoover and Mellon placed government in service of business 24-12

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill Distress Signals at Home and Abroad Distress Signals at Home and Abroad –“Farm bloc” organized (1921) –The Dawes plan –Kellog-Briand Pact The Election of 1928 The Election of 1928 –Coolidge chooses not to run for re- election. Republicans nominate Hoover –Democratic party continued to be polarized between its rural supporters and ethnic laborers 24-13

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill The Great Bull Market The Rampaging Bull The Rampaging Bull –New blood –New money The Great Crash The Great Crash –“Black Tuesday”—October 29, 1929 –Role of the crash 24-14

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill 24-15

©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. ©2005 by The McGraw-Hill Companies, Inc. All Rights reserved. McGraw-Hill The Sickening Slide in Global Perspective The Sickening Slide in Global Perspective –Shock waves from The Great Crash rippled across the globe –41 nations abandoned the gold standard The Causes of the Great Depression The Causes of the Great Depression –Consumer debt and uneven distribution of wealth –Banking system –Corporate structure and public policy –“Sick” industries –Economic ignorance 24-16