Vocab List 17 Supplyside economics Cooperative Individualism Isolationism

Vocab List 17 -Supply-side economics -Cooperative Individualism -Isolationism -Teapot Dome Scandal (209) -Five power Naval Limitation Treaty -Kellogg-Briand Pact -Dawes Plan

Roaring Twenties Politics & Foreign Policy

I. Background • • • A) Why is it called “Roaring Twenties? ” o Best Era Ever § Jazz, Movies, Radio, Celebrities § Gangsters, illegal liquor, sexuality is embraced o Increased wealth (for some) B) Republicans in power → Business lobbyists in power o Good for economy in short run o Weakened unions o Lower income/bsns taxes C) Post WWI → Want to prevent war in future

Refresher from last time

II. Politics • • A) Warren G Harding - “return to normalcy” 1920 o Good guy but picked scandalous cabinet o ex 1: Attorney General paid $$$ to not prosecute criminals o ex 2: Teapot Dome Scandal - Paid $$$ by private business for contract o Dies of Heart Attack 1923 B) Calvin “Silent Cal” Coolidge o 1924: “Chief business for Americans is Business” -Silent Cal o 2011: “I’m not a businessman-- I’m a business, man” -Jay Z o Supply-side economics: § Lower taxes → consumers spend extra $$$ § Spend more $$$ → Economy grows → We wealthier

Video on Silent Cal

III. Preventing War • • • A) Isolationism - staying out of world affairs o 1) We refused to ratify Treaty of Versailles o 2) Did not join League of Nations o 3) Neutrality Acts - would not arm countries at War B) 1922 Five-Powers Treaty - Italy/France/Japan/Britain/USA agree to 10 year halt on construction of war ships C) 1928 Kellogg-Briand Pact - USA + 14 other countries agree to abandon war and settle disputes peacefully

IV. Big Picture • • • Before WW 1 - USA a debtor nation End of WW 1 - France/Britain/Germany owe USA $10 billion in war debts 1920 = We dominate economically + Pro-business politically will further boost.

Modern Isolationsim