By 1916 Americas trade has risen up to $6 billion. This sudden change of position made New York the new world’s financial capital. This gave power to America because as the war started the government now began to take a roll in directing economic development, with the development of the War Industries Board it allocated raw materials to various industries. It also began to advise companies on they could be more efficient and join bitter rivals to improve productivity. This meant that the government now began to take authority of the economy and thus give more power to the federal government.
How far did modernity impact on the 1920s? The 1920s allowed Americans to create, reshape and improve their environment through advancements in technology, knowledge and experimentation. This is both progressive and optimistic, reflecting the idea of the American Dream and the motto ‘manifest destiny’. During the 1920s, America experienced a decade of prosperity referred to as the Great economic boom. The majority of this was due to the strength of the industry and big business in America.
In this essay I am going to be answering the question, was 1920’s America a great time to live? After I have presented both arguments for and against the statement, I will come to a conclusion on which argument persuades me to form my opinion. The 1920’s is commonly referred to as the ‘roaring 20’s’ this is because, it was the period of time just after the war and subsequently the countries that won the war went through an economic boom. As normal during big changes in the world, the most extreme changes happened in America. As a result of this I am going to be looking specifically at the changes in America that took place in the 1920’s and how these affected people’s everyday lives.
FRQ#3 After World War I, the United States entered an era known as the Roaring Twenties. Historians have been arguing on how economic conditions and developments in arts and entertainment helped create the reputation of the 1920’s as the Roaring Twenties. The economic conditions during the 1920’s were booming due to the increased production of goods, jobs, and investments in stocks. The developments in arts and entertainment such as the birth of jazz and the peak of Art Deco, were also foundational for creating the reputation known as the Roaring Twenties. The economic conditions during the 1920’s helped create the reputation known as the Roaring Twenties.
During the mid-nineteenth century through the beginning of the twentieth century, America went from being an agrarian rural society to an urban industrial one. With this shift, America experienced an explosive economic growth. By 1913, the nation was producing one third of the world’s industrial outcome. America started to become a more industrial nation since it was enjoying abundant natural resources, a growing supply of labor, an expanding market of manufactured goods, and the availability of capital for investment. The federal government played an important part as well since it promoted constructions by granting land to companies and using the army to remove the Indians from western lands desired by many.
The Progressive Era was a time of reform as well as an industrial boom. New ideas and new ways of going about life, awakened people’s mind to the possibility of something better for them. The middle class started to grow, which boosted the national economy, because they were consuming more. In addition, monopolies started expanding their power over the national economy. A few groups became enormously wealthy and possessed great influence.
The Ups and Downs of the 1920’s The 1920’s in the United States flip flopped between two huge economic spectrums in a matter of months. It quickly went from extreme growth and prosperity to economic devastation. The early 1920’s is often referred to as the “roaring twenties” for multiple reasons. During this decade, many people were challenging the old conservative lifestyles, for a new exciting nightlife. The Republican Party had control over the country at this time, causing big business to thrive and expand.
Mellon was a multi-millionaire from Pittsburgh who had a lot of experience with economics. Mellon knew that a great economy is the result of great businesses and he therefore favored higher protective tariffs and lower taxes. As a result of Mellon’s influences, Harding signed the Budget Accounting Act in 1921 which improved the budgeting procedures of the federal government. This effectively put more control over the economy in the hands of the government, which was the right thing to do at that time period. In 1922, the Harding administration passed the Fordney-McCumber Act which helped the president determine differences in production costs on an international level.
During the 1920s, America experienced rapid industrialisation that impacted US society significantly. The US experienced numerous positive changes such as urbanisation, economic growth and the beginnings of consumerism. However, Industrialisation also impacted negatively in crafting the Great Depression. Industrialisation impacted on America greatly triggering rapid city growth and urbanisation. The increasing urbanisation lead to the development of existing city-centres.
(2002) Although the United States economy experiences a great deal of negative effects based on international trade, there are some benefits to foreign trade. The United States economy drastically improves because of a wider variety of goods imported from other countries. When Americans buy more products, the economy is stimulated. When foreign countries demand American made goods, this causes an increase in productions of those demanded goods, causing the United States labor force to go to work. On the other hand, the United States receives exotic goods within a reasonable time and price range due to foreign trade.