The Changing Quality of Life 1917-80 Flashcards
(78 cards)
What did post-war cotton farmers struggle with?
Boll Weevil
What were farmers urged to do during WWI? How did this lead to issues post-war?
Produce more wheat. They produced too much and prices fell
The coal industry went from producing 90% of the US energy to what by 1930?
60%
Who created the ‘scientific management’ technique used by Ford and other manufacturers?
Fredrick W. Taylor
Between 1919-29, consumer debt rose from 3.3bil in 1920 to what by 1929?
7.6bil
How much were workers paid by Ford in 1914?
5 dollars
The amount of passenger cars increased from 4.7mil in 1917 to what by 1929?
23,060,420 (23mil is OK)
Before 1920, people borrowed, on avg, 5% of their income. What had this become by 1929?
Almost double
What encouraged ordinary people to buy stocks in the 1920’s?
The media
What did banks begin to do during the 1920’s?
Using customers’ investments to trade in shares
What contributed to the ‘boom cycle’ ending?
A lack of demand for consumer goods
What did people begin to do in an attempt to make even more money in the stock market?
Buying on the margin
What did the FED do to control the boom that only exacerbated the depression?
Tightening the money supply
What was FDR’s first action as president?
Close all banks and have FED officials inspect them, only reopening the ones they deemed healthy
What proportion of all banks in operation before the crash were bankrupt by 1933?
1/3
When was the Wall St Crash?
28th of October 1929
What was the 1937 act that set up the Federal Housing Admin. for the clearance of slums and building of low-income housing?
Wagner-Steagall National Housing Act
The number of live births increased by how much between 1940-55?
Went from 2.5million to 4.1mil
What were some of the benefits the government provided for veterans after WWII?
GI Bill which 12 million participated in
Leaving payment
Loans to buy a home/business
Medical and healthcare
Unemployment pay for 1 yr
Who was a notable builder of Suburbs?
Levitt company
What act encouraged the building of suburbs indirectly?
1956 Highway Act - Built 41,000 of interstate highways
What was stagflation?
Businesses stop growing but inflation continues
What groups of people felt the pitfalls of stagflation in the 70’s?
People on fixed incomes and the unemployed
Why was stagflation happening in the 1970’s?
Falling productivity levels
USA no longer leading in tech development
USA exporting less manufactured goods (only 13% in 1973 globally)
Business taxes rising