The 1920s (The Roaring Twenties)
Background
The Roaring Twenties were a period of time ofter the Progressive Era which portrayed American life with a sense of False Prosperity. From 1900 to 1920, the Progressive Era was a time of increases government involvement due to 3 progressive presidents; Roosevelt, Taft, and Wilson. From Trust Busting to instituting new regulations for workers' and consumers' well being, the Progressive Era was a huge leap in the well being, and prosperity of America. |
Decreasing Govt Involvement
The sudden change from progressive presidents to conservative presidents, greatly added to the decrease of government involvement in America. Conservatives believed in a "Laissez Faire" philosophy, which made the government leave the economy alone, and greatly decreased its influence. |
False Prosperity
With the increase of corporation control of the economy, and little government intrusion, the whole 1920s were shrouded with the illusion that the economy was booming, and really, almost 60% of Americans were living in poverty, and had no money to back up the spendings which they were allowed with various new crediting programs. |
Bringing it all Together
In contrast to the active government of the Progressive Era, the level of governement involvement in the economy during the 1920s drastically decreased. Throughout the Progressive Era the government was involved in the society and economy creating rules and regulations to protect American workers, consumers and environment. However, "After WWI and 20 years of 'progressivism' many Americans wanted a 'return to normalcy' and isolationism" (Textbook).Therefore three conservative Presidents were elected: Harding, Coolidge and Hoover.These men had the philosphy of "Liassez Faire" which mean 'leave alone'. This affected America because the government cut back on regulations and became less involved in American society and economy, leaving big businesses alone.