27.2 & 27.4 Lesson REview

​United States and Post-WWI

Ch. 27.2 & 27.4​

Some text here about the topic of discussion

- Harding believed in free enterprise system​...in order to get out of post-WW1 recession

--> private ownership

--> competition for profits

--> supply and demand determine goods and services​

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- ​Lowered taxes that Wilson had raised to pay for war

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​Harding Cuts Taxes & Spending

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​Is there a difference between how Wilson ran the economy compared to how Harding did?

Multiple Choice

Which of the following statements show Harding's view of how to get the country out of the post-WW1 recession?

• Public ownership of all land

• competition for profits

• ignore supply and demand

- Attorney General Daughtery took bribes from accused criminals

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- Secretary of Interior Fall leased federal oil reserve land to 2 private companies...Fall resigned

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-Harding stood by his friends....later died of a heart attack​

​Teapot Dome Scandal

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​Should a President's time in office be judged by those who work for him?

- Called 'Quiet Cal'....opposite of Harding

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- Believed 'chief business of American people is business.'​

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- Cut taxes, got rid of unneeded spending and pushed to reduce corporate and income taxes

--> Nation prospered

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- Ran for only 1 term​

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​Does this cartoon think the tax reductions are a good or bad idea?

​Calvin Coolidge Promotes Business

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Multiple Choice

What caused the nation to prosper during Coolidge's Presidency?

• Cut taxes

• asked Congress to spend more $$$

• wanted to increase corporate taxes

​- During WW1 ran President Wilson's Food Administration in Europe

--> Post-WW1 continued 'feeding' the hungry in Europe

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- Believed in promoting business

--> encouraged 'associationalism'...industry leaders coming together to improve economic efficiency

​ --> hoped this would end poverty as businesses flourished​

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​Herbert Hoover Aimed to End Poverty

​What could be a positive action that would come out of Hoover's "associationalism"?

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What could be a negative action that would come out of Hoover's "associationalism"?​

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- ​Harding, Coolidge and Hoover allowed businesses to merge to promote efficiency (anti-trust laws)

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- Productivity increased​

​ --> Henry Ford's assembly line...make more to sell for less...pay workers more

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--> Larger companies bought smaller ones...made items cheaper... i.e. electricity and grocery companies

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- Smaller companies went out of business as a result​

​Could a virtuous person be apart of a businesses merger and stay virtuous? How would these business run differently with a virtuous person involved in them?

​Republican President's Economic Policy

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Multiple Choice

What was a consequence of Presidents Harding, Coolidge and Hoover allowing companies to merge together?

• smaller companies flourished

• companies became more inefficient

• items, like groceries, became cheaper

- Florida Land Boom

- Ponzi Schemes

- Invest in stock market

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- Farmers with surplus crops and low prices struggled

- Migrant workers struggled

- Unskilled workers in coal and textile industry struggled

--> new ways to get power and new clothing material​

​Why would it be farmers and unskilled workers, specifically, who would not be able to get more wealth during this time?

​Some Get Rich & Some Don't

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