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The Great Depression the worst economic slump in American history

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The Great Depression  the worst economic slump in American history

-Causes: unequal distribution of money between rich/middle-class, industry/agriculture, Usa/Europe; this imbalance of wealth created an unstable economy. But also the extensive stock market speculation. In the 20s there was an oversupply of goods because people don't have enough money to pay them so they let credit sales. As a result there was a booming of auto and radio factories while agriculture began to decline. But the first couldn't expand at infinitum and when they declined, agriculture were already in ruin.

-Consequences: people stopped buying goods with credits and also foreigners stopped buying American products for the high trade taxes. Jobs were lost, store, banks and factories closed and unemployment grew up.

-Cures: it was created the FED that inflate the money supply and raised interest rates (bad to do).

Roosevelt 33 introduced an economic-social program knew as "New Deal".

The Usa in the 20th century had an important role in the world: a powerful economy, army and navy able to compete with other countries. Also an imperial power with an empire of colonies.

A good time for America (roaring 20s) in particular for women who after winning the right to vote they felt a new sense of equality with men and explored new roles in the society. The age of prohibition of alcohol and of bootlegging business.

The Lost Generation

During the 20s many of American writers lived in Paris (best city for dissatisfied ones). After Ww1 they found hard to relate with Americans who were enjoying the new prosperity forgetting the brutality of the War. Lost generation=no sense of purpose or direction, war profoundly affected them. Their novels reflect this sense of emptiness.

The Harlem Renaissance 

After Ww1 African Americans continued their migration from the country to cities (New York city neighbourhood of Harlem). 20s time of great excitement for them 'cause black soldiers died for the country in Europe and expected respect. They think about racial justice and their work express racial pride and the subject is the examination of black people. A famous author is Hughes.


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