HIST 150C3 1st Edition Lecture 14 Politics and Culture of Prohibition “Tommy Gun” or Thompson Machine Gun-fired 800 rounds of ammunition per minute-did not need a skilled marksman to kill people using this weapon-in close range this was extremely accurate-light weight-“Chicago Typewriter”February 14, 1929-war endsThe Great Depression, 1929-1941Calvin Coolidge-Believed in laissez-faire economics-pro-business-president in early 1920’s-1928: replaced by Herbert HooverWelfare Capitalism-happy workers=happy business-content workforce-recreational outletsHerbert HooverThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.-thriving economy in the U.S. when he enters presidency-stock market crashes in 19294 Theories for Why the Depression Occurred1. law of compensation2. “great contraction”3. big supply, little demand4. European recessiona. Dawes plan of 1924i. How to restore Europe after WW1ii. U.S. lends money to Germany who then pays France and France pays debts back in the U.S.iii. Led France to purchasing manufactured goods from U.S.iv. Money begins and ends in U.S.“Painting the Tape”-sell stock-stock goes up-average citizen buys stock at high priceThe Great Flood of 1927-causes people to lose homes and jobs and forces them to relocate around U.S.Dust Bowl 1930’s-hurts U.S. economic system-caused by agricultural techniques brought to the plains by
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