ASAMST 20A Lecture Notes - Lecture 10: Tripartite Pact, Lytton Report, National Maritime Union
31 Jan 2018
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Document Summary
After wwi, the u. s. experiences a flourishing period of economic growth, and social and cultural transformations. Steady growth of both gnp and per capital income. Social and cultural transformations: emergence of jazz, flapper girl fashion, etc. Economy shifted from producing steel and rubber for the war to consumer durables (cars, radios, washing machines, etc. ) Once durables saturated the market, the number of consumer purchases declined. Unlike today, producers were not aware of the marketing skills widely used today to attract consumers; therefore, producers did not spur consumer interest and demand and did not increase consumer purchases. Lack of new demand in both the u. s. and globally. Increasing economy inequality (both in the u. s. and globally) Stock market crash of 1929, which was the worst economic crash, symbolized the country"s bad economy. 1929-1933: national income and production declined by 1/3. Farmers suffered: oakies migrated to the west coast to seek for better opportunities.
