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."
These links were checked on May 24, 2009.
Copyright Robert Schenk