Oil.

Cars.

Airplanes.

Fast Food.

Business Policies of Presidents

Coolidge and Hoover.

In the early 20th century large oil deposits

were discovered in Penn, CA, OK, WY, TX.

Oil began to replace whale oil and coal.

Led to the mass distribution of barrels of

oil.

Resulted in price of oil going down to

$3.07/barrel

CARS, CARS, CARS, and MORE CARS.

Before the “Roaring” 20s cars were play

toys for the rich.

Henry Ford created the assembly line,

which made the automobiles more

affordable and reliable.

Because cars were more incorporated in life,

cities became more spread out because

people didn’t have to live near their work.

Along with cars came airplanes.

Harry Guggenheim established a foundation in the late 1920s to teach aeronautical engineers at universities and develop flight instruments. Also funded Western Air Express in an

experiment to see if airlines could profit from passenger fairs without air mail subsidies.

At the end of the decade new jobs began to appear at and around airports.

The most popular jobs were at fast-food places for starved travelers.

Since the economy was buzzing, and

more people had time consuming jobs,

they were in need of a “quick” meal.

This led to the rising of the fast-food

franchises.

Restaurants that put out food faster than

others for a more affordable price and

decent quality.

• Some of the first were:

• White Castle: 5 cent burgers

• 7-Eleven

• KFC

• A&W

Calvin “Silent Cal”

Coolidge

Herbert Hoover

Philosophy of Government

Believed prosperity

rested on business

leadership

Believed that part of his

job as president was to

make sure that gov’t

interfered with business

and industry as little as

possible.

Philosophy of Government

Tried to promote economic

stability in industries by

balancing gov’t regulation

with cooperative

individualism.

• Philosophy of Gov’t Cont’d

– This idea encouraged

manufacturers and

distributors to form their own

trade associations which

would voluntarily share info

with the gov’t.

– Believed this system would

promote economic efficiency

• Philosophy of Gov’t Cont’d– Also created several

agencies to assist US businesses.

– Expanded the Bureau of Foreign and Domestic Commerce

– Established the Bureau of Aviation

– Established the Federal Radio Commission

Differences?

• President Coolidge

– Believed that the gov’t

should get involved with

business and industry as

little as possible (and did so

throughout his presidency)

• President Hoover

– Got very involved with

business with the hope that

he would promote economic

efficiency thus making the

US more successful

– He established new

organizations to further

assist and also regulate

businesses and

industries.