Question
How did Shirley Temple movies reflect the Depression?
Answer
The 1970s was perhaps the worst decade of Western and American economic performance since the Great Depression. Although there was no severe economic depression as witnessed in the 1930s, economic growth rates were considerably lower than previous decades. As a result, the 1970s adversely distinguished itself from the prosperous postwar period between 1945 and 1968. Then, the world economy was buoyed by the Marshall Plan and the robust American economy. However, the high standing enjoyed by the American economy gradually became discomposed by years of loose domestic spending (particularly the Great Society campaign) and funding for the Vietnam war. The oil shocks of 1973 and 1979 added to the existing ailments and conjured high inflation throughout much of the world for the rest of the decade. Soaring oil prices compelled most American businesses to raise their prices as well, with inflationary results. The average annual inflation rate from 1900 to 1970 was approximately 2.5 percent. From 1970, however, the average rate hit about 6 percent, topping out at 13.3 percent by 1979. This period is also known for "stagflation", a phenomenon in which inflation and unemployment steadily increased, therefore leading to double-digit interest rates that rose to unprecedented levels (above 12% per year). The prime rate hit 21.5 in December 1980, the highest in history. By the time of 1980, when President Jimmy Carter was running for re-election against Ronald Reagan, the misery index (the sum of the unemployment rate and the inflation rate) had reached an all-time high of 21.98 percent.
— Source: Wikipedia (www.wikipedia.org)