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The great boom of the 1920s usa
Economic boom 1920
Economic boom 1920
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The Economic Boom of the 1920s After the First World War America was a completely different country. The twenties was a very unusual time period in American History. The twenties were a time of fun and partying. There are many reasons why it was called the Roaring Twenties. Most of the American people were living a great life and were able to afford luxury items, even though this didn't apply to every one many believed that it was excellent and exciting a time of great hopes. In the twenties, industry took a very big step. It nearly doubled. Not only did industry grow so did science, fads, laws, beliefs, arts, social lives changed, sports and the various different news from around the globe. The twenties were a jam-packed decade. The work week had dropped from 60 to 48 hours. For the first time, the Americans considered play as important as work. The weekend family outing and vacation had become things workers expected it. Huge numbers of people had radios went to the movies and owned a car. Jazz was also introduced in the 20's At this time women were needed in society and men began to accept them. The car and train industry was the largest industry there was. The assembly line made mass production possible, and the industry boomed. "The Economic Boom". America was now a very powerful envy of many countries. America had High production and low unemployment Henry Ford's assembly line in Detroit was the largest one in the country. When Ford first started making cars, the only car he made was a black Model-T. Almost everybody in the United States had a car. Three-out-of-four families owned one or more cars. With the assembly line they made a lot more cars in one day than they did before. Instead of payin... ... middle of paper ... ...iets had changed and they ate less starch and the farmers had a lot of left food over unable to sell. They would of sold hem abroad but there was no point for the reason that tariffs would be placed on them. The price for wheat had fallen. They would have to abandon their farmland and move to the rural areas. Over 600,000 farmers went bankrupt within 5 years. Person who disliked the boom- "It was also an era of pettiness, ignorance and poverty" I believe that the Economic boom in America was a good thing and that the good points out weighed the bad. Yet there were some very bad issues. The Technology, Industry, Music, Architecture, Arts and science advanced to a great extent and many things became available to every human. The old equipment was soon adapted, and is used today. The quality of living conditions slightly improved but America was still far from perfect.
Through out the 1920’s many inventions were created that altered human civilization. Transportation was successfully mastered. Radio communication was becoming more common and medicine was saving more and more lives every day.
People now had the chance to look for gold out west and the Gold Rush began. This is when America really had its boom. Lastly, we now have twice as much, if not more, natural resources than we had before.
To start off, the economy boom was when many Americans came to the peak of their financial gains. Because of Americas new founded wealth, americans citizens used their new extra money on entertainment. Prohibition caused economic growth due to the illegal selling and using of liquor. More jobs became open to all people and wages, and hours increased making it easier for people to have a satisfying living. Child labor laws made restrictions on the age, and how much a child could work, and this made people way more relaxed about factory workers. Loans were an easy way for people to be able to achieve their goals during this period of time. Along with loans, credit was a way for people to use money that they may not have at the time and then pay it back to the bank later, thus the economy became very powerful coming out of the Great Depression. All of these factors led to...
The 1920's was a time of change in the United States. “The Roaring Twenties” had an outstanding impact on the economy, social standards and everyday life. It was a time for positive results in the consumer goods industry and American families, because of higher wages, shorter working hours, and manufacturing was up 60% in consumer goods. But it was also a time of adversity and opposition for others, such as immigrants and farmers. Immigrants had lots of competition when they were looking for work and they weren't treated fairly by Americans, depending on where they came from and what they believed.
"Railroads were the first big business, the first magnet for the great financial markets, and the first industry to develop a large-scale management bureaucracy. The railroads opened the western half of the nation to economic development, connected raw materials to factories and retailers, and in so doing created an interconnected national market. At the same time the railroads were themselves gigantic consumers of iron, steel, lumber, and other capital goods". (Tindall, Shi)
The 1920s are known as the Roaring Twenties, the Jazz Age, and the Golden Twenties. During this time, there were dramatic social changes in society. The Great War destroyed old perceived social conventions and new ones were developed. The 1920s was a decade that saw a great change in the role of women. The Roaring Twenties was a common name for the 1920s, due to the rise in consumerism and advertising at the time. Morals began to decrease during this time period. The 1920s was a period of time with great societal changes.
The 1920s were a time of political and social changes. Americans began transferring from farm life to city living and the economy kept growing. People all over the country were doing the same dances, listening to the same music, bought the same items and even talked the same. Although the 20’s brought much conflict, for some young people and cities, they were definitely roaring.
The rapid economic expansion and changing social attitudes both contributed to the growing sense of confidence shown in the 1920’s. Due to new ideas and better working conditions, the economy was booming. More people were able to afford goods due to the fact that they could be produced in greater numbers allowing the prices to decrease. This led to significant increases in the sales of products such as cars, refrigerators, radios and cookers. A man by the name of John R. Lee mentioned that companies successfully lowered the prices of the convenient car in order to make it affordable for more people to purchase their products. Also, there were plenty of jobs with better working conditions than before the war that allowed people to step into the middle class (D). Hoover also stated that to keep the economy going, the companies would have to maintain their moral values and treat the workers well, but the workers should not try to ask for too much. The balance that he spoke of was se...
...ansion of radio, film, the automobile, and advertising were some of the incredible changes that transformed America’s economy and the way of life for its citizens, making many of them very materialistic. This was reflected in the economy of the time, which was booming throughout the decade. The mass consumerism was most reflected the in the expansion of the automobile industry, which saw cars become practical necessities after being basically obsolete up until about 10 years prior. Political and social changes also altered the very culture of America, especially the issues of women’s rights and prohibition. The literature of this period also greatly reflected the consumerist nature of America, in works like the Great Gatsby. All of these things helped contribute to the strikingly different America during the roaring twenties that has changed global society forever.
The additional incomes for families caused the living standard to rise for the wealthy. “From 1922 to 1929, the national income increased more than 40 percent, from $60.7 billion annually to $87.2 billion” (“The Roaring Twenties” Worldbook). The reason for this is because products were being made faster and cheaper. The items being made were household items and cars (“The Roaring Twenties”History). A lot of people could not actually afford these products on their salaries, but a new idea of credit came up. Buying on credit is when someone pays for an item over time. This was good short term, but an evil long term solution (Mr. Martin). Radios were a big hit during the Twenties because for the first time ever, families could get together and sit around the table. With this, came advertisement. Advertisement really helped businesses because it would get their product out into the public. Advertisement was actually present before the Twenties, it just was not as big as in the Twenties. The reason for the advertisement boom was because companies were competing with each other and took it too far. These companies were using new techniques that made the victim think the he/s/ needs that product (“Consumer”UShistory).
Most Americans began to live a better life from 1922-1929 otherwise known as the seven fat years. This was due to the government’s relaxed approach towards the economy. The laissez-faire system was encouraged because there was little intervention from the state. Businessmen didn’t have to listen to government they could make their own decisions in order to produce profit and wealth. Government’s approach was pro-industry and anti-labour which meant that there was no protection for the workers thus leading to inequality, long working hours and not a enough pay for the workers to really feel happy or satisfied. Powerful monopolies were able to grow unchecked. Although the laissez is a reason for the crash it isn’t the only one reason. It can be argued that the economic isolationism, loans to Germany and other countries and unequal wealth and income etc. were the causes of the crash because America had many more influences than government not intervening and they were involved with a lot of things and people and would come out on the other side biting more than they could chew during the depression.
The roaring twenties were a time of cultural, artistic, and social explosion for the United States of America. This era was distinguished by several inventions and discoveries, rapid industrial growth, accelerated consumer demand and significant changes in American lifestyle. It was a time when people lived life to the fullest and pursued having a good time. The census of 1920 showed that for the first time in American history, more people lived in urban areas such as cities than out in the country. While the amount of modern technology would be somewhat lackluster in comparison to what we have today, I would be glad to live in the 1920’s.
... the world. From humble origins in the late nineteenth century, the auto industry grew explosively in the early and mid-twentieth century’s, scattered and decentralized, and reconstituted its work force. The impact on everyday life, from where people live to what kind of work they did cannot be underestimated. The hard work people put in to making the assembly line helped almost all companies succeed in making more cars. Just imagine if the assembly line was not created. It would take years to make a car and the cost of a car would be very expensive. Those changes were especially visible in Detroit which was the capitol of the auto industry automobile nation. The automobile industry would not be where it was today if it wasn’t for all the hard work people put in it in the 1900’s. Ford, Chrysler and general motors’ help create what we call today as the automobile.
The twenties were a time of economic boom, but this boom would end in a crash. It was a good time to be an American, but it only lasted so long. The stock market crash was a blow to the American economy that would not easily be healed.
During the Roaring 20’s, Henry Ford’s assembly line cut the cost of automobiles by 60% enabling the average American in the working class to buy one. He also provided many workers with unusually high wages of six dollars a day. This set the example for the majority of American manufacturers and many more products became available to Americans. As the financial and cultural gap between the upper class wealth and the lower class laborers shrank, the first urban middle class emerged. Automobiles for the most part were not a hazard to the environment, but instead improved urban environment and living conditions. Farmers gained the ability to transport their produce cheaply to new markets without need for trains.