The Great Depression, a period of economic turmoil that gripped the United States and the world from 1929 to the late 1930s, significantly shaped the historical context of F. Scott Fitzgerald’s later life and work. The Last Tycoon is set in Hollywood during the late 1930s, a time when the film industry was grappling with the profound effects of the economic downturn. The Great Depression was triggered by the stock market crash of 1929, leading to widespread unemployment, poverty, and a sharp decline in industrial production. Hollywood, as a significant part of the American entertainment industry, was not immune to these economic hardships. The film industry, which had flourished during the Roaring Twenties, faced a stark reversal of fortune. Audiences, burdened by financial struggles, had less disposable income for leisure activities, impacting movie attendance and revenue.

Fitzgerald’s portrayal of Hollywood in the 1930s captures the industry’s response to these economic challenges. Studios endured budget cuts and a shift in production strategies. The era of extravagant, big-budget productions gave way to a more cost-conscious approach. The Last Tycoon reflects the industry’s adaptation to the economic climate, as studios sought ways to produce films more efficiently and economically. Characters in the novel navigate the harsh realities of the Great Depression.