In "Oswald the Lucky Rabbit," a 1933
(propaganda?) cartoon,
the solution to the Great Depression was confidence. It also
highlight people's fear of banks and the hoarding of cash.
(Embedding is disabled on this video, so click on the
link.)
Popular songs sometimes capture the mood
of a country. "I'm Sitting on Top of the World" is a
song
that fits the boom stage of the business cycle, and it was
written in the mid-1920, a period of prosperity.
"Brother, Can You Spare A Dime" is
a song that fits the bust part of the business cycle. It was
written in 1931, and was popular throughout the 1930s. Here
is Rudy Vallee's version.
A common theme in business cycle
literature is that confidence is important. Expectations can
be self-fulfilling. Here is Shirley Temple in 1938
telling
people to "Be Optimistic."
