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# Chapter 23 ## Rodolfo Valentino (1910-1926) * Moved to US from southern Italian village * Made 15 short films between 1919 and 1920. * Died in August 1926, at age 31, after surgery. ## Recession (1920-1922) * Began in 1920 when the Washington administration canceled wartime defense con...

# Chapter 23 ## Rodolfo Valentino (1910-1926) * Moved to US from southern Italian village * Made 15 short films between 1919 and 1920. * Died in August 1926, at age 31, after surgery. ## Recession (1920-1922) * Began in 1920 when the Washington administration canceled wartime defense contracts. * Veterans re-entered the workforce. * Economic recovery in 1922, with unemployment at 3%, and stable prices. * GDP (Gross Product) grew by approximately 43%. ## Electricity * Increased demand for electric goods like refrigerators and vacuum cleaners. * Hydropower used in manufacturing processes. * Henry Ford's Model A car released in 1927, was initially very successful. ## Automotive Industry (1920s) * The automotive industry comprised 9% of all manufacturing wages. * Ford created new production facilities in different countries. ## Meatpacking and Copper Industries * Meatpacking plants expanded their operations internationally. * Anaconda Copper acquired Chile's largest copper mines and established plants throughout Latin America. ## Economic Nationalism and Tariffs * Industrialized nations created high tariffs on imports to protect domestic industry. * The US enacted the Fordney-McCumber Tariff Act (1922) and the Hawley-Smoot Tariff Act (1930). * These measures aimed to support US manufacturers and restrict foreign trade. ## Inequality During Prosperity * Workers' wages increased, but inequality persisted, especially in the South and for minority groups (African Americans, women, and Mexican Americans.) * Recent immigrants also faced economic challenges. ## Farmers' plight following prosperity. * After a period of wartime prosperity, agricultural prices fell.