Chapter 20 - Chapter 20: From Business Culture to Great...

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Unformatted text preview: Chapter 20: From Business Culture to Great Depression: 1920-1932 It was a time of revolt against moral rules inherited from the nineteenth century. (765) Factories poured out standardized consumer goods Radio and the movies spread mass culture throughout the nation A Decade of Prosperity o The automobile was the backbone of economic growth Half of all Americans owned one A New society o Coca-Cola became a symbol of American life o Americans spent more and more of their income on leisure activities like vacations, movies, and sporting events o During the 1920s, over 100 million records were sold each year The Limits of Prosperity o Signs of future trouble could be seen beneath the prosperity of the 20s o A majority of families had no savings, and an estimated 40% of the pop remained in poverty, unable to participate in the flourishing consumer economy o During the 20s, more Americans worked in the professions, retailing, finance, and education, but the number of manufacturing workers declined by 5% (768) o 75% of American households still did not own a washing machine, and 60% had no radio The Farmers Plight o Farming reached its peak during the war, then Farmers continued producing too much food, and as a result, farm incomes declined steadily and banks foreclosed tens of thousands of farms whose owners were unable to meet mortgage payments o Extractive industries like mining and lumber, also suffered as their products faced a glut on the world market....
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This note was uploaded on 12/13/2011 for the course BIO 362 taught by Professor Walikarzai during the Spring '10 term at SUNY Stony Brook.

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Chapter 20 - Chapter 20: From Business Culture to Great...

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