Transcript of The Roaring ‘20s and the Great Depression. Economics.
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- The Roaring 20s and the Great Depression
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- Economics
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- Scientific Discoveries
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- 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
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- 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
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- 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
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- 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
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- Visual Artistic Movements
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- Cubism: art made up of many broken angles and planes
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- 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
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- Abstract Art: art made up of lines, colors, & shapes with
no recognizable subject
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- 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
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- Dadaism: art without discipline or morality which is designed
to shock
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- 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
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- Surrealism: art that attempt to portray the workings of the
unconscious mind
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- 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
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- Bauhaus Architecture
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- 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
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- Dorothea Lange 1895 1965 Photojournalist Lange's photographs
humanized the tragic consequences of the Great Depression and
profoundly influenced the development of documentary
photography
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- Langes Photos
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- Literary Movements
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- Motion Pictures
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- 1920s Hollywood
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- 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
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- 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
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- 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
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- 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!)
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- 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
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- 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
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- http://youtu.be/BBgghnQF6E4
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- Snow White and the Seven Dwarfs
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- The Wizard of Oz
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- Gone With the Wind
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- Dracula & Frankenstein
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- Music
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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)
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- 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
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- The Charleston