The Roaring Twenties: Economic Boom and Cultural Shift

Between 1923 and 1929, European governments sought rapprochement, reducing penalties for Germany and granting loans to economically struggling European countries.

Post-War European Rapprochement

The recovery was largely due to the Dawes Plan, which reduced Germany's economic sanctions and provided it with loans and credits. The goal was for Germany to satisfy its obligations, and for creditors to receive their interest payments, thus closing a circuit of money that would return to its origin.

The Spirit of Locarno inaugurated a period of political détente with the Locarno Agreements. Germany was subsequently admitted into the League of Nations. These developments contributed to the stability of the 1920s, often referred to as the "Happy Years," as efforts were made to stimulate the European economy.

Economic Prosperity and Industrial Advancements

This period brought a wave of prosperity, marked by the application of new discoveries from the Second Industrial Revolution. Key developments included:

• Development of new production sectors and the use of new energy sources.
• New forms of work organization: Taylorism and Fordism.
• Concentration of capital in large corporations (trusts, holdings).
• Growth of production and consumption, and increased wages, leading to economic recovery.

This provoked an expansive stage of the global economy, fostering a climate of euphoria and blind confidence in American capitalism.

The "American Way of Life" and Mass Culture

The American model was exported, known as the "American Way of Life," promoting individual consumption, boosting advertising, and facilitating easy credit and installment sales.

Mass entertainment (cinema, sports, cabaret) became objects of consumption. The press enjoyed great splendor, with sports magazines proliferating. Radio began to be used as a tool for advertising by wealthy Americans. America emerged as the paradigm of freedoms, opportunities, and well-being. The country's enrichment was showcased through mass media (cinema, advertising).

Immigration and Social Dynamics

A strong wave of immigration began, with people seeking opportunities and often living in neighborhoods marked by poverty and exclusion. These immigrants brought their own language, religion, and culture, but sometimes clashed with established values, as natives clung to conservative White Anglo-Saxon Protestant (WASP) ideals. This optimism was less intense globally, where only those with resources could imitate the American model.