The Causes Of The Economic Boom In 1920 America Essay

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Causes of the Economic Boom in 1920 America  

After the fall of Germany and with it, the Triple Alliance in1918, many countries in Europe found themselves in poverty and serious debt. However, unlike these European countries, America had not been overly affected by the First World War. Despite America losing soldiers on the Western Front, no fighting took place on American soil, so little money was spent regarding building and agricultural repairs. In fact, America had prospered during World War One. Whilst Britain and Germany fought one another, the USA sold goods to many countries which had previously been supplied by the warring nations. Once the war was over, America continued to supply good to their ‘new customers’ and thus prosper from the results, such examples of trading states were Argentina and Canada. Unlike many other trading relations, the USA was almost self-sufficient meaning that they could supply countries with products and goods without having to buy anything themselves. This resulted from America’s huge resources; coal, iron and food which made the USA virtually independent.
During the 1920s America’s expanding industry, and stemming from it new inventions and technology, were contributing sources to the great economical boom. The revolution of the ‘assembly line’ caused great controversy as many critics exclaimed that the innovation led to unskilled workers and tedious, unrewarding work. However criticised though, the revolutionary idea led to a great expansion in industry and thus Americas short-lived prosperity. The greatest industry boom took place in the motor car business, led by three major businesses; Ford, Chrysler and General Motors. The largest of these was the Henry Ford Motor Company who produced most of America’s Motor Cars in the 1920s. In 1909, Ford industries released the Model T and despite being described as slow, ugly and difficult to drive, the ‘Tin Lizzie’ – as it was nicknamed, was America’s best-selling car over the...

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