History paper 2: The Roaring Twenties, Depression and the New Deal and Hitlers Germany. 

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The Prosperity of The American Dream

'Back to Normalcy'

After WWI Republican President promised to concentrate on making America prosperous and successful; 

The American economy had benefited from WWI and could now concentrate on raising standards of living;

Presidents associated with this are:

  • Harding 
  • Coolidge
  • Hoover

They believed that government should not interfere in business but allow companies to get on with making money-- 'The business of America is business' They also believed in 'Rugged individualism' and that every Amercian could be come rich through their own hard work.

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The Prosperity of The American Dream


1922 Fordney-McCumber Act put high import tariffs (taxes) on all foreign made good sold in the USA;

This was intended to protect American industries and encourage Americans to buy home produced good;

This would in turn produce more jobs for American workers;

This policy was later to backfire and damage exports.

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The Prosperity of The American Dream

Advertising and Hire Purchase 

Advertising encouraged people to aspire to 'The American Dream' with lots of consumer goods making life easier foe working people;

Billboards, radio adverts, home shopping catalogues;

Good could be bought by paying small deposits and then paying the rest in instalments; many people could buy lots of expensive goods in this way but end up owing huge amounts, which would cause problems if they lost their jobs. 

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