Essay On 1920s Economic Expansion

According to the textbook Experience History, the economic expansion was the culmination of expansion in the economy and a new era of republican control. It occurred from 1920 – 1929. This was a period of a time of higher wages, more business, and the new paradigm shift to consumerism. A reason that economic expansion in the 1920s occurred was the view of businessmen that helped in supporting during the First World War allowing them to start mergers and less regulation. “The wartime contributions of business managers and the return of prosperity in 1922 gained them renewed respect. Encouraged by federal permissiveness, a wave of mergers swept the country. Between 1919 and 1920 some 8,000 firms disappeared as large gobbled small.

The moment the people become adjuncts to the government, then the law of retribution begins to work, for such a relation is unnatural, immoral, and inhuman. We cannot live without business and we cannot live without government. Business and government are necessary as servants, like water and grain; as masters, they overturn the natural order.” This was a common view where the government didn’t regulate business but actually gave it more

In a report made by the U.S. Department of Commerce from 1920 to 1930 prices of workers in the production slowly began to rise which because the automated car line caused workers to need more skill. They were also doing the same repeated job hours on end every day they went to work. This was started by Henry Ford when he started to pay his workers more for the production line jobs which was adopted by more factories employing the same automated system. This created higher wages giving people the ability to buy more consumer goods which caused companies to gain more profits and produce more