Laissez-faire, Individualism and protectionism

What were all the presidents in the 1920s

republicans

what did all the 1920s presidents have in common

similar political and economic views

Warren Harding’s reign

1921-23

who’s reign was 1921-23

Warren Harding

Calvin coolidge reign

1923-29

who’s reign was 1923-29

Calvin coolidge

Herbert Hoover reign

1929-33

who’s reign was 1929-33

Herbert Hoover

what policy did Coolidge continue

limiting role of the government in the economy

reducing tax burden on the rich

what happened to the economy during Coolidge’s reign

went through period of unparalleled growth

what was Hoover

self made millionaire

what did coolidge believe

government should involved little

business men made their own decisions = high profits and new jobs

what was laissez-faire

governments interfered as little as possible with businesses

rugged individualism

people achieved success by their own hard work

who believed in individualism

republican presidents

where did individualism originate

early Americans who moved to west to make new life for themselves through hard work

what policy returned in the years after 1919

policy of isolationism

what was isolationism

USA refused to be involved in events abroad, particularly Europe

what did the government put on imported goods

tariffs

why were goods placed on tariffs

limit the competition from foreign imports

what was the result of tariffs

imports became more expensive compared to American made goods

what made imports become more expensive compared to American made goods

tariffs

what did tariffs encourage

the purchase of American goods and helped US producers

what encouraged the purchase of American goods and helped US producers

tariffs

when was the Fordney-McCumber Tariff

1922

what tariff was in 1922

Fordney-McCumber

what did the Fordney-McCumber tariff do

raised tariffs on goods coming into USA to highest level

encouraged Americans to buy USA produced goods

what did a reduction of income tax rates cause

left some people with more cash to spend on consumer goods

what caused people to have more cash to spend on consumer goods

reduction of income tax rates