2. Vocab List 17
-Supply-side economics -Cooperative Individualism -Isolationism
-Teapot Dome Scandal (209) -Five power Naval Limitation Treaty -Kellogg-Briand Pact -Dawes Plan

3. Politics & Foreign Policy
Roaring Twenties
Politics & Foreign Policy

4. I. Background A) Why is it called “Roaring Twenties?” Best Era Ever
Jazz, Movies, Radio, Celebrities
Gangsters, illegal liquor, sexuality is embraced
Increased wealth (for some)
B) Republicans in power → Business lobbyists in power
Good for economy in short run
Weakened unions
Lower income/bsns taxes
C) Post WWI → Want to prevent war in future

5. Refresher from last time

6. II. Politics A) Warren G Harding - “return to normalcy” 1920
Good guy but picked scandalous cabinet
ex 1: Attorney General paid $$$ to not prosecute criminals
ex 2: Teapot Dome Scandal - Paid $$$ by private business for contract
Dies of Heart Attack 1923
B) Calvin “Silent Cal” Coolidge
1924: “Chief business for Americans is Business” -Silent Cal
2011: “I’m not a businessman-- I’m a business, man” -Jay Z
Supply-side economics:
Lower taxes → consumers spend extra $$$
Spend more $$$ → Economy grows → We wealthier

7. Video on Silent Cal

8. III. Preventing War A) Isolationism - staying out of world affairs
1) We refused to ratify Treaty of Versailles
2) Did not join League of Nations
3) Neutrality Acts - would not arm countries at War
B) 1922 Five-Powers Treaty - Italy/France/Japan/Britain/USA agree to 10 year halt on construction of war ships
C) 1928 Kellogg-Briand Pact - USA + 14 other countries agree to abandon war and settle disputes peacefully

9. IV. Big Picture Before WW1 - USA a debtor nation
End of WW1 - France/Britain/Germany owe USA $10 billion in war debts
1920 = We dominate economically + Pro-business politically will further boost.

10. Modern Isolationsim