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By the end of this section, you will be able to:
  • Discuss Warren G. Harding’s strengths and weaknesses as president
  • Explain how Calvin Coolidge was able to defeat the Democratic Party
  • Explain what Calvin Coolidge meant by “the business of America is business”

The election of 1920 saw the weakening of the Democratic Party. The death of Theodore Roosevelt and Woodrow Wilson’s ill health meant the passing of a generation of Progressive leaders. The waning of the Red Scare took with it the last vestiges of Progressive zeal, and Wilson’s support of the League of Nations turned Irish and German immigrants against the Democrats. Americans were tired of reform, tired of witch hunts, and were more than ready for a return to “normalcy.”

Above all, the 1920s signaled a return to a pro-business government—almost a return to the laissez-faire politics of the Gilded Age of the late nineteenth century. Calvin Coolidge’s statement that “the chief business of the American people is business,” often rendered as “the business of America is business” became the dominant attitude.

Warren harding and the return to normalcy

In the election of 1920, professional Republicans were eager to nominate a man whom they could manage and control. Warren G. Harding, a senator from Ohio, represented just such a man ( [link] ). Before his nomination, Harding stated, “America’s present need is not heroics but healing; not nostrums but normalcy; not revolution but restoration.” Harding was genial and affable, but not everyone appreciated his speeches; Democratic presidential-hopeful William Gibbs McAdoo described Harding’s speeches as “an army of pompous phrases moving across the landscape in search of an idea.” H. L. Mencken, the great social critic of the 1920s, wrote of Harding’s speaking, “It drags itself out of the dark abysm of pish, and crawls insanely up to the top-most pinnacle of posh. It is rumble and bumble. It is flap and doodle. It is balder and dash.”

Harding was known for enjoying golf, alcohol, and poker (not necessarily in that order). Although his critics depicted him as weak, lazy, or incompetent, he was actually quite shrewd and politically astute. Together with his running mate, Calvin Coolidge, the governor of Massachusetts, they attracted the votes of many Americans who sought Harding’s promised return to normalcy    . In the election, Harding defeated Governor James Cox of Ohio by the greatest majority in the history of two-party politics: 61 percent of the popular vote.

Photograph (a) shows Warren Harding pointing his finger with a stern expression on his face. Photograph (b) shows Calvin Coolidge smiling and holding his hat above his head.
Warren Harding (a) poses on the campaign trail in 1920. His running mate, Calvin Coolidge (b), would go on to become president in 1923, when Harding died suddenly while touring the United States.

Harding’s cabinet reflected his pro-business agenda. Herbert Hoover, a millionaire mechanical engineer and miner, became his Secretary of Commerce. Hoover had served as head of the relief effort for Belgium during World War I and helped to feed those in Russia and Germany after the war ended. He was a very effective administrator, seeking to limit inefficiency in the government and promoting partnerships between government and businesses. Harding’s Secretary of the Treasury, Andrew Mellon, was also a pro-business multimillionaire with a fortune built in banking and aluminum. Even more so than Hoover, Mellon entered public service with a strong sense that government should run as efficiently as any business, famously writing that “the Government is just a business, and can and should be run on business principles.”

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
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Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
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Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
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Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
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Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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