During the 1920s, the
U.S. government, under the guidance of Harding and Coolidge, took a
backseat in issues pertaining to the economy. They believed in
capitalism as the driving force behind the economy and decreased
regulation by the federal government. During this period, big
businesses regained a lot of power and grew exponentially, labor
unions became ineffective without the support of government
regulations, and consumer spending increased. While the economy
looked great, warning signs pointed to problems that will
eventually...