ASPECT ONE: ECONOMICS
In the 1920's, stockbrokers were among the richest. Earning their money from sharing stocks, they lived a good life.
With the stock market crash, stockbrokers lost everything they had and went from riches to rags.
The stock market of the 1920's overflowed with ideas like credit, or buying with borrowed money. Consumers could buy shares of companies on a margin and ate up the idea of owning part of a company. Unfortunately, they were too trusting in the companies they shared in, and invested a lot of money in these shares in hopes of making even more. When the companies went into bankruptcy, consumers were devastated and lost millions of dollars. When they went to the banks to withdraw their savings, they were shocked to find that the banks had no money to pay them with. Millions of banks failed.
ASPECT TWO: LEISURE TIME
The Harlem Renaissance encouraged African-Americans to express their creativity. Many started going to jazz clubs to hear the sweet music and reading the works of Langston Hughes and Zora Neale Hurston.
FDR appointed the Black Cabinet during his presidency. The group included a man named William Hastie, who would later become the first African-American judge.
During the 1920's, African-Americans prospered. With things like the Harlem Renaissance, they were able to express their creativity. This explosion of art, literature, and music created some of the best pieces in African-American history that are still around today, like the invention of jazz. In the 1930's, they continued to make progress. President Roosevelt appointed a group of people known as the Black Cabinet to help him with African-American politics. From this organization came the first African-American judge.
ASPECT THREE: HOME LIFE
The younger, more daring women of the 1920's were known as "flappers". They did things that were considered scandalous.
Things took a downturn for women with the economy crash. Many were left behind with their children by husbands too embarrassed for unemployment.
The flappers were some of the first to break away from tradition. They went out and lived their lives. They went to movies, flirted, and went on dates. When the economy fell, however, they suffered just as much as everyone else. Many women who made their livings working from home lost their jobs because people couldn't afford what they produced. The fun times ended hard for young women everywhere.
ASPECT FOUR: GOVERNMENT'S ROLE
Even farmers got a taste of the good life.
The Great Depression blew farmers away.
While the cities of the '20s roared, farmers were working nonstop producing food for the soldiers at war. They overworked their fields and were left with dry, infertile soil. When the wind picked up the soil, it covered anything in its tracks. This phenomenon is known as the Dust Bowl.