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The Politics of Normalcy

The Politics of Normalcy. Chapter 27. The Warren Harding Error. Two Quotable Quotes:. “We want less government in business and more business in government.” “We have had Wilson for eight years, and I have not understood him. I understand Harding already.”. Republican Era Begins.

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The Politics of Normalcy

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  1. The Politics of Normalcy Chapter 27

  2. The Warren Harding Error

  3. Two Quotable Quotes: • “We want less government in business and more business in government.” • “We have had Wilson for eight years, and I have not understood him. I understand Harding already.”

  4. Republican Era Begins • “He looks like a President.” – H. Daugherty • Committed to the free enterprise system • Harding’s fiscal policy • Surplus of government dollars and a substantial drop in unemployment

  5. The Ohio Gang • Harding filled government positions with his friends which inevitably led to corruption • Teapot Dome Scandal: • Leasing of oil reserves to private companies • “If Albert Fall isn’t an honest man…” • Harding has a heart attack while “bloviating”

  6. “Silent Cal” • “You lose.” • “Got to eat somewhere…” • “How can you tell?”

  7. Coolidge and Business • Stood for integrity, hard work, and thriftiness • “The man who builds a factory builds a temple, and the man who works there worships there.” • Economized in little and big ways – cut taxes – but in the end… • “I do not choose to run for President in 1928.”

  8. “End Poverty As We Know It” • Herbert Hoover • “associationalism” • Bringing industry leaders together to improve efficiency • As business flourished poverty would disappear • Nomination speech of irony

  9. Era of Isolationism • The League of Nations / World Court • From complete distrust, to application, to denial • Washington Naval Conference • Harding’s great international accomplishment • The superpowers scaled back their warships • However, there were loopholes • Kellogg-Briand Pact • Outlawed war, but not defensive war • Steps toward World Peace?

  10. Era of Isolationism • Great Britain and France owed the US 11 billion dollars • Reliant upon Germany to make payments so they could in turn pay the US • Germany stopped making payments • Dawes Plan – what did it fix? • Latin America – a time of rebellion, and possible US intervention, which the US did not tend to

  11. Republican Boom Years • Big business expanded, productivity increased dramatically, unemployment dropped and wages doubled! • A new car rolled off the Ford plant every 10 seconds – at cheap prices • What were the secondary benefits of this increased productivity?

  12. New Industries • Commercial airplane travel – from a novelty to an efficient vehicle • Synthetics and plastics were developed • Revolutionized the clothing and entertainment industry • Radios were in every home as the main source of entertainment • The world became substantially smaller

  13. Big Businesses Get Bigger • Consolidation: • Ford, GM, Chrysler – and variety! • Holding Companies: • A&P: The first Walmart! • Why did it take so long for grocery stores to evolve? • Speculators – Ponzi schemes and land booms • DJIA saw a massive increase in money invested – people were buying on hot tips and margin!

  14. The Effects of Fast Growth • The GNP rose by 40% during the 1920’s, but not all Americans were sharing prosperity • Farmers and unskilled laborers were hit particularly hard • Industries were finding easier alternatives which required a smaller labor force

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