American loans were costly for America and it took them time and favors from other countries to get them back on track. Inequality and unequal income and wealth was a big benefactor as well because the rich became richer and the workers lives didn’t change and the big businesses carried on speculating on the exchange with all their money eventually to the destruction of the once so lavish life of America.
Many immigrants move to America in hopes of achieving the American dream. Reluctance to grant citizenship to those who work hard in our country make it difficult for in these individuals to gain wealth. In the twentieth century the economy was flourishing, making it easier for people to get jobs; nowadays, in a recession, it is hard to find a job that pays well without a higher education. All of these factors make it harder for one to achieve the American Dream. The richest people of America continuously receive the largest tax breaks.
Reasons Behind the Economic Boom of 1920's There was an economic boom in the 1920s for 5 main reasons. Firstly the growing strength of American Industry meant that the USA was a leading producer of many raw materials. This was partly due to the second main cause of the boom, which was World War 1. This had helped the American Industry to grow, as during World War 1 new markets had opened up to America. Also, after World War 1, America took over as a leading producer as many European industries had suffered greatly because of the war.
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.
Not only did sixteen million Model T’s sell by 1927, but the automobiles popularity lead to the construction of more roads and highways through the funds of the public. Because more roads were built, more people commuted to the cities to find work, which impacted the economy. Many reso... ... middle of paper ... ...n as The Great Depression which lasted ten years and ended at the start of World War 2. The Twenties are associated with wealth, extravagance, and optimism. After success from war and an economic boom, everyone had positive spirits.
During the 20th century, the automobile changed American society in many ways. Before the automobile, travel took twice as long and people did not see how they could explore the world outside their home. New ideas were created to simplify lives of Americans and industries boomed creating economic prosperity. After the automobile, new positions became available and gave many Americans the opportunity to make a living. Travel was made easier and faster.
The cars were also standardised which meant one colour and one engine size, which cut costs even more... ... middle of paper ... ...s were good. The wall street crash was bad for every one in America at the time and it also effected the world soon after. Shares were good for a lot of people before the Wall Street crash as they made money by buying shares for low prices and selling them on for a lot more. Shares seemed to be good for everyone in the period between 1920-1928 but the prise of the companies on the stock market were to high the companies were not worth as much as what was imagined. Everyone thought it was a easy way to make money but when the market collapsed everyone suffered a lose in money most people became bankrupt.
Henry Ford's business model made the automobile not only affordable for the general public but also a necessity that underlined the fabric of American culture and the economy simultaneously. Throughout the 1920's, the automobile became a symbol of American prosperity and captivated the psychological interest of the general public. As automobiles became more attainable, they were viewed as an indispensable vehicle to increased mobility and ultimately freedom of choice. This newfound freedom had profound effects on Americans at the time, causing a major shift in ideals from previous decades. Individuals and society as whole experienced spontaneous freedom without immediate repercussions; leading to an age of consumerism and decreased frugality.
The goal of most people is to make as much money as possible, whether they are stockbrokers on Wall Street or homeless and begging for money. It is human nature to be greedy and to want to acquire as much wealth as possible. There are many ways to make money, but even some of the wealthiest people make their money in a corrupt manner. Corruption in business is obviously wrong, but when crooked businessmen are influenced by society, extremely greedy, and are addicted to money, it is hard for them to turn away from the possible profits of unfair business. In the early 1900’s true businessmen began to emerge, thinking of many different ways to make money fast and efficiently.
The ‘Automobile Revolution’ massively impacted the United States, from environmental issues all the way to how people lived their everyday lives. (“1920’s”; Wikipedia) During the twenties a major technological revolution had come forth into the spotlight, Henry Ford’s assembly line. The widely acclaimed assembly line allowed for manufacturing companies to create much more product to sell, one of these products was your everyday automobiles. With these companies being able to make increasing numbers of vehicles they were able to supply the skyrocketing demand that the public wanted. Prosperity during this time allowed for the residence to afford these worldly purchases they so greatly desired.