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How did the philosophy of the 1920s presidents towards business affect the operations...

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victoriax | Student, Grade 11 | (Level 1) Honors

Posted December 5, 2012 at 9:49 PM via web

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How did the philosophy of the 1920s presidents towards business affect the operations of American businesses?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted December 5, 2012 at 10:25 PM (Answer #1)

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The 1920s are known as a decade in which all of the presidents were very conservative.  They were all Republicans and were all typically in favor of businesses.  This attitude towards business was typified by Calvin Coolidge’s statement that “the man who builds a factory builds a temple.”  This sort of attitude on the part of the Republican presidents created a situation in which businesses were relatively free to operate as they pleased.

The three presidents of the 1920s generally believed in a laissez-fair approach to regulating the economy.  They felt that the government should get out of the way of business and let the market regulate itself.  They did not, for example, really try to enforce antitrust laws.  They did not try to do anything to support unions.  Because of this, businesses were much freer to operate in any way in which they saw fit during this decade. 

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