In the 1920s the USA was the leading producer of oil in the world. America’s agriculture was becoming the most effective and productive in the world. The industrial strength of America is probably the most important cause of the economic boom. It allowed ... ... middle of paper ... ...as it led to America having money to invest in new industries. The First World War was the main reason for America’s industrial strength as many countries were paying America back money that they had loaned during the war, with interest.
The allies just didn’t have the resources to produce the weapons needed to continue the war effort themselves. Therefore they bought the required munitions etc. off the Americans, so as a result the Americans where being pumped full of money from the allies. This meant that while the allies fought the war and were being depleted of their wealth the Americans had a time of prosperity resulting in the USA finishing WW1 as the richest country in the world, while the of rest of the world tried to back on their feet. This meant that there was a lot more money in the US economy so new technology could be researched before any other country in the world giving America an overall advantage.
The most important reason for the boom was world war one as they were very rich after the war. This is because no damage was done to American territory as the war was held in Europe. Also, lots of money had been made by selling ammunition. America was one of the main suppliers to the war. Great Britain could only trade with America as all of the other countries were tied up in the war.
The war had also led to advances in technology, such as mechanism and manufactured materials. Production of Iron Ore, coal, petrol and wheat and exportation of chemicals, wheat, iron and steal all had increased considerably by the end of the war. By the end of the war, America had decided to isolate itself from the problems of Europe, and set itself about making the most profit in business. This isolationism built up the confidence of the American people. An increase in personal wealth, demand and output production all helped America’s prosperity.
This created more jobs. I believe that the cause of the economic boom was WW1. The main cause of the boom was the First World War and American Isolation. America also sold many of its goods and products such as ammunitions and natural resources to Britain and France. America gained money while the European countries were busy fighting.
Many Americans owned their own cars. America was so rich it could lend money to Europe. At the end of World War I, America turned its back on Europe. It didn’t join the League of Nations in 1922. Also in 1922 the McCumber tariff was introduced, this put heavy taxes on cheap foreign imports.
They gained and kept money in American though a number of policies. The Laissez-faire view that the president should interfere as little as possible and leave the businessman to himself. This helped the "boom" as it meant that any illegal business that was going on could occur and more money from trade, for example, could come into the country. Another policy that kept money in the country and allowed America to boom were the import Tariffs. These made it very expensive for foreign goods to be imported into the country because of large taxes on them, and so not much money was going abroad.
World War I had placed great strains on the economies of the most European nations that were involved in the conflict. With trade agreements with countries like Britain, France and United Kingdom America’s economy flourished, as they forced these countries to accept goods in exchange for debt. The economy of America soared to new heights. America’s abundant natural resources and technological advances were used to become leaders in manufactured exports. (Encl) Usually the general public would opposed big business owners to partner with government, but as the lifestyles of many Americans elevated these relationships were accepted.
They need to lower the rate for companies that choose to stay here and hire here in America. Conclusion The outsourcing of U.S. jobs can be solved. The President and Legislators of this country will need to work together as a team to stop companies from sending jobs to foreign countries. They need to promote jobs and repair the terrible damage the recession has done to make America more competitive with other countries. The unemployment rate has decreased, but we have a long way to go if the Government does not prohibit U.S. companies from outsourcing jobs to foreign countries.
The First Industrial Revolution changed agriculture customs and the Second Industrial Revolution caused changes in production techniques, but both helped the United States industrialize and become the most successful country in the world. During the First Industrialization Revolution, there were extreme changes in agriculture, manufacturing, and transportation. Industrialization began in Britain because of the surplus of raw materials, making it one of the most dominant countries in machinery. Before the Civil War, most people were not wage owners because they either worked on agriculture or in small single-owner crafts. The Industrial Revolution began with the invention of the steam engine in Britain in 1793 by James Watt, which was used to minerals from mines.