Chapter 2.1 (part 1)

• Geschiedenis
• Middelbare school
• vwo
• Leerjaar 3

Chapter 2: Between the wars

2.1 Prosperity and crisis in the United States (part 1)

At the end of this lesson...

• You will know what a consumer society is.
• You will know what the Roaring Twenties are.
• You will know how the economical crisis started.
• Concept of Meristocray

Live now, pay later

• After WW1, the USA was the wealthiest and most powerful country in the world.
• In the 1920's they became a consumer society. 

Meristocracy

• Michael Young:
• As labourer you have the right to be rewarded!

www.volkskrant.nl

If you coudn't afford it, you could buy it on credit.

The Roaring Twenties

• A different name for the 1920's

• Many changes (?)

The stock market

• Farmers and companies borrowed money to invest.
• Credit was used to buy stocks on the stock market.
• The Stock market crashed on Black Thursday 1929.
• The borrowed money couldn't be paid back.
• Companies, factories and banks went bankrupt.

What is a 'consumer society'?

Why is it called the 'Roaring Twenties'?

Why did banks and companies go bankrupt?