Roaring 20s Review

President Harding's campaign, "return to normalcy" included:

• easy-going atmosphere

• replace focus of reform

• constantly focus on the war

Teapot Dome Scandal involved:

• Secretary of the Interior

• private interests lease lands with oil reserves

• in public

Several of Harding's political allies and friends were given high-level jobs and cabinet posts.

• Harding's Gang

• The Ohio Gang

• The Teapot Gang

Calvin Coolidge:

• silent

• avoided scandals

• laissez-faire

• prosperity did NOT rest on business leadership

Government should interfere with business and industry as little as possible; let it be

• laissez-faire

• lazy fair

• lizzy friar

Supply Side Economics:

• lower taxes=boost the economy

• businesses and individuals invest their $$$

• creating high revenues

Policy of encouraging manufacturers and distributors to form their own organizations and volunteer information to the federal government in an effort to stimulate the economy.

• isolationism

• cooperative individualism

• individuals

In the 1920s, the US became a global, dominant economic power and tried to use that power to . . .

• promote peace

• promote stability

• take over the entire world

National policy of avoiding involvement in world affairs.

• cooperative individualism

• isolationism

• ghosting

Mass production:

• large-scale manufacturing

• increased supply and reduced cost

• workers made more

• goods cost more