Tutor profile: Tyler Z.
What is the sociological imagination, as explained by Mills?
Sociological imagination is about considering the relationship between an individual's experience and the broader trends of collective society. It applies everyday issues of someone to a wider systemic trend. As Mills puts it, it connects "personal troubles to public issues".
Subject: US History
What economic weaknesses existed beneath the surface of the Roaring 20's prosperity?
1. Unequal distribution of wealth 2. Easy credit - Americans' personal debt to personal income increased from 20 percent at the beginning of the 1920s to 60 percent by the end. 3. Depressed crop prices 4. Weak foreign trade - America placed high tariffs in the 1920s due to its isolationist stance post-WWI. Also, its insistence that Europe repay war debts weakened the recovery of the European economy, which weakened European demand for American goods.
What is "crowding out"?
Crowding out is the effect on investment and consumption spending of an increase in interest rates caused by increased borrowing by the federal government. With higher interest rates, business and consumer borrowing is "crowded out".
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