US History - The changing political environment 1917-80The changing quality of life 1917-80 Flashcards
Issues with farming post WWI?
Prices fell, and continued falling due to overproduction due to subsidised farmers and mechanisation - farmhands sacked. boll weevil hurt cotton growers
Issues with industry post WWI?
Strikes to gain better working standards ended in failure, with some businesses closing, coal demand decreased
What percentage of energy was created by coal in 1900 and 1930?
90% and then down to 60%
Issue with government reaction to events post WWI?
Isolationist tariffs meant that exports fell
What caused a boom to do with production?
Mass production caused goods such as cars and radios to be made quicker and cheaper, this in turn caused transportation industry to boom as materials and products were moved around
How did new management techniques cause a boom?
Individual workers were made very efficient at their job, and also paid good wages to stay around
How did federal polices aid the boom?
Minimal government intervention in industry and low taxes caused American goods to be cheap so people bought them
How did hire purchase and loans aid the boom?
As it was seen as acceptable to have a loan with hire purchase schemes like Sears, people bought more things even if they didn’t have the money
Consumer debt in 1920 and 1929
$3.3 billion and then up to $7.6 billion
How did changing industry help the boom?
Need for electricity for goods caused new need for electricity to be bought to homes - 1917 8m homes, 1930 25m homes
Which 2 terms sum up why the stock market grew in the 1920s?
Bull Market and buying on the margin
What foreshadowed the Wall Street Crash?
Increasing unemployment in 1927 and goods piling up in warehouses
Why was laissez-faire still followed during the Wall Street Crash?
Things were fine in the end in 1919
What fraction of banks in 1929 were bust in 1933?
1/3rd
What should one call the market in October of 1929?
A Bear Market
What did Roosevelt do about the banks when entering office?
He closed all of them and only reopened FED-approved healthy ones
How did demand aid affluence post WWII?
Increased demand for consumer goods due to lack of money spent on these during the war lead to production increasing $71 billion between 1945-50
How did government intervention aid post WWII affluence?
Truman’s strength in threatening to draft miners and rail workers into the army caused no strikes in 1952
How did the baby-boom aid post WWII affluence?
Industries such as nappy and toy ones grew - new consumers
Nappy sales in 1947 and 1957?
£32 million and then up to $50 million
How did Congress aid post WWII affluence?
1949 National Housing Act cleared slums and built new houses (810,000 of them), and GI Bill helped train workers
What happened after the Office of Price Administration was shut down in 1946?
Inflation rose by 25%
How did Truman’s love of setting up new groups aid affluence post WWII?
Employment Act of 1946 created Council of Economic Advisors for the President
How did changing attitude aid affluence post-WWII?
Consumerism was positively patriotic