Transcript of 1920's v 1950'sCurious as to how the 1920's and
1950's compare in America? Let's take a look and see. First let's start with the commonalities They both started after the end of World Wars The 1920's began after WWI The 1950's began after WWII They were both decades of Economic
Prosperity for the wealthy and Upper
Middle Class Consumer Goods Increased Exponentially Higher Wages Than Ever Before and Less Hours Media Focus on
Advertisements and Entertainment Suburban Shopping Centers Films and Sports flourish Teenage
Rebellions Urban and Suburban Life
True. The Magna Carta <span>established the principle that everyone is subject to the law, even the king, and guarantees the rights of individuals, the right to justice and the right to a fair trial.</span>
I believe 10 amendments were added to the constitution by 1791
<u>These two quotes pronounced by President Herbert Hoover, express his viewpoint on the Great Depression</u> and his opinion about the different formulas adopted to overcome it:
- <em>"Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
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- <em>"You cannot extend the mastery of government over the daily life of a people without somewhere making it master of people's souls and thoughts.… Every step in that direction poisons the very roots of liberalism. It poisons political equality, free speech, free press, and equality of opportunity. It is the road not to more liberty but to less liberty."</em>
Hoover became one of the main detractors of Roosevelt's New Deal which, based on Keynesian economics, fostered goverment interventionism in order to boost the depressed demand levels as the mechanism to create employment and economic growth. Such interventionism was materialized by increasing public spending.
In opposition, supporters of free markets and<em> laisez-faire</em> economic policies, such as Hoover, criticized this recovery plan because they believed that markets on their own would reach the most efficient outcomes and that the country would get innecessarily indebted. Moreover, they believed that the situation would be worsened by interventionist policies that hampered certain individual liberties.
