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Depression era: the time when a lot of skyscrapers were built in New York. Implication of this was that the big companies needed to hold up their public image even during the depression era, to keep the faith of the people intact in their company. The Empire State building, Chrysler building and many others were built at this point.
Architectural style of these buildings: Art Deco - highly decorative, bringing in elements of the past into the structure of the building. Glorifying the past, trying to replicate the glorious past through these elements. Example: the arches of the Chrysler Building directly referencing the arches found in Roman architecture (groin vault).
The elements that are taken from the past arent necessarily American. They are taken from all around the world and its history. They do not have their own past to take from.
Modernist movement took place in the early 20th century, and grew during the interwar period.
Bibliography: Lepik, Andres. Skyscrapers. Munich: Prestel, 2008. Kentgens-Craig, Margret. The Bauhaus and America: First Contacts, 1919-1936. Cambridge, MA: MIT, 1999. Saunders, William S. The New Architectural Pragmatism. Minneapolis: University of Minnesota, 2007. Kostof, Spiro. America by Design. New York: Oxford UP, 1987. Shvidkovski, Oleg Aleksandrovich. Building in the USSR, 1917-1932. New York: Praeger, 1971. Tafuri, Manfredo. Architecture and Utopia: Design and Capitalist Development. Cambridge, MA: MIT, 1976. Bacon, Mardges. Le Corbusier in America: Travels in the Land of the Timid. Cambridge, MA: MIT, 2001. Carley, Rachel. 1994. The Visual Dictionary of American Domestic Architecture. New York: Henry Holt and Co.