Roaring 20’s December 6th, 2022

-Consumerism and commercialism

-expansion of film and broadway
-golden age of baseball
-Ku Klux Klan
-4 million members
-mainly in the south
-they would torture and murder anyone who wasnt into christianity and wasnt ‘white”
(Jews, blacks, immigrants, etc.)
-big commercialization with stocks and investment
-sale and consumption of alcohol becomes illegal
-almost everyone had a boat
-jazz began to become popular
-Louis Armstrong
-Duke Ellington
-Dizzy Gilespie
-Cotton Club premier nightclub in NY
-Harlem Renaissance: jazz and blues music
-electric lights and power
-homes started to get electricity
-cars
-radio
-women got to vote
-flappers: type of dress
-Read your bible
-religion
-modern science and religion clashed
-spectator sports grew popular
-Babe Ruth: he hit 60 home runs in one season
-Spirit of St. Louis was the first plane to fly from America to Paris/across seas
-Charles Lindbergh flew this plane and won the achievement
-Byrd expedition: to go to the North Pole/Antarctica
-America was the first country to go to Antarctica flying and by boat
-October 29th, 1929- the stock market crashed
-30 billion dollars in paper money went away
-people lost everything
-there was nothing to secure your money
-caused a mass suicide because people lost everything
-birth of the mafia in the United States
SPEECH

1- Do Americans have an absolute right to free speech?

No, Americans don't have the absolute right to free speech.An example is threatening
someone or a group of people.

2- When, if all, should the government limit free speech?

The government should limit free speech when violence is involved, brainwashing, etc.

Federal courts:
-District courts
-Appellate courts
-landmark court

-Espionage Act
-to avoid communist ideas into the government
-amended in 1918
-banned newspapers and magazines from the mails
-threatened individuals who obstructed the draft with $10,000 in fines and 20 years in
jain

-Sedition Act of 1918

-makes it a federal offense to disloyal, profane, scurrilous or abusive language
towards the constitution, the government, the American uniform or the american flag
Butler Act: The Butler Act was a 1925 Tennessee law prohibiting public school teachers from
denying the Biblical account of mankind's origin. The law also prevented the teaching of the
evolution of man from what it referred to as lower orders of animals in place of the Biblical account.
The law was introduced by Tennessee House of Representatives member John Washington Butler,
from whom the law got its name. It was enacted as Tennessee Code Annotated Title 49 (Education)
Section 1922, having been signed into law by Tennessee governor Austin Peay.
Provisions of this act:

Economics
-Dow and Jones: gave a simplistic idea to the public of how the stock market was doing
-Dow Jones Industrialization
-Disposable income: The income one has after all expenses are paid
-GDP
-herbert hoover
-elected in 1928
-lost to FDR by a landslide in 1932
-laissez-faire: no government intervention
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CCC - Civilian Conservation Corps – 1933, employed young men to perform unskilled
work in rural areas; under Army supervision; separate program for Native Americans
TVA - Tennessee Valley Authority – 1933, effort to modernize very poor region (most of
Tennessee), centered on dams that generated electricity on the Tennessee River; still
exists
AAA - Agricultural Adjustment Act – 1933, raised farm prices by cutting total farm output
of major crops (and hogs)
NRA - National Recovery Act – 1933, industries set up codes to reduce unfair
competition, raise wages and prices
PWA - Public Works Administration – 1933, built large public works projects; used
private contractors (did not directly hire unemployed)
FDIC - Federal Deposit Insurance Corporation/Glass-Steagall Act– insures deposits in
banks in order to restore public confidence in banks; still exists
CWA - Civil Works Administration - 1933-34, provided temporary jobs to millions of
unemployed
SSA - Social Security Act – 1935, provided financial assistance to: elderly,
handicapped. Paid for by employee and employer payroll contributions; required years
contributions, so first payouts were 1942; still exists today (redistribution of income)
WPA - Works Progress Administration – 1935, a national labor program for 2+ million
unemployed; created useful construction work for unskilled men; also sewing projects
for women and arts projects for unemployed artists, musicians and writers.

Securities Act of 1933 - created the Securities and Exchange

Commission (SEC) in 1933: created standards for sale
and purchase of stock, required risk of investments to
be accurately disclosed; still exists today

Definition:
Inflation-a general increase in prices and fall in the purchasing value of money.

Deflation-reduction of the general level of prices in an economy.

Deflation spiral- a downward price reaction to an economic crisis leading to lower

production, lower wages, decreased demand, and still lower prices.

Unemployment-not having an employed job

Recession-a period of temporary economic decline during which trade and industrial
activity are reduced, generally identified by a fall in GDP in two successive quarters

Depression-the financial and industrial slump of 1929 and subsequent years.

Structural Unemployment-unemployment resulting from industrial reorganization,

typically due to technological change, rather than fluctuations in supply or demand.

Cyclical Unemployment-the component of overall unemployment that results directly

from cycles of economic upturn and downturn. Unemployment typically rises during
recessions and declines during economic expansions.

Income-money received, especially on a regular basis, for work or through investments.

Buying on Margin- involves getting a loan from your brokerage and using the money
from the loan to invest in more securities than you can buy with your available cash.
Through margin buying, investors can amplify their returns — but only if their
investments outperform the cost of the loan itself.

Credit-the ability of a customer to obtain goods or services before payment, based on

the trust that payment will be made in the future.

Annual Percentage Rate- a number that represents the total yearly cost of borrowing
money, expressed as a percentage of the principal loan amount. The APR on a loan or
credit card aims to offer a complete picture of how much it costs to borrow money.

Stock-the goods or merchandise kept on the premises of a business or warehouse and

available for sale or distribution.

Stock Market-a stock exchange.