Explain why the US economy ‘boomed’ during the 1920’s? An economic boom is the rapid growth in a country’s money making that leads to increased prosperity and wealth. The 1920’s was a time of extreme highs and lows, a time of dramatic changes in society and many new inventions. Many American industries boomed in the 1920s, with the economy doubling in size. This economic boom was based around consumer goods-luxury items that many Americans wanted to buy but didn’t really need.
They produced many new jobs with the need for new roads since the American landscape was drastically expanding. Advertisements not only made businesses prosper but gave people actual helpful information, such as the idea of keeping a much better personal hygiene being better for your health. Alternating electrical current increased energy efficiency tenfold compared to direct current since people could actually turn off their electricity. However, the Installment Plan created a country-wide idea that you could now buy what you really can’t afford and that made a lot of debt which eventually made the stock market crash leading to the Great Depression. Although there was a blotch on the great economic image of the twenties, the bigger smudge was on the cultural rifts that
America’s successes in war generally boosted nationalism and spirit in the people. The United States were the true victors of war coming out with the most. Unlike other many other nations, America’s land, aside from Pearl Harbor, was barely touched omitting any extra time or money that would be necessary for reconstruction. Avoiding reconstruction allowed time for production. Not only was America prosperous, but they also were generous.
Running Head: THE ROARING TWENTIES 1 The Roaring Twenties What Made it Roar? THE ROARING TWENTIES 2 Following severe post war depression in the 1920s, the American economy was booming. The 1920s saw new discoveries that became the foundation of thriving businesses. New businesses and production methods allowed large profits of new factories and higher wages. This booming period of economic expansion was often referred to as the “Roaring Twenties”.
Industrial Giant American manufacturing flourished for many reasons, for one new natural resources were discovered and exploited steadily, thereby increasing opportunities. These opportunities, in turn, attracted the brightest and most energetic and expanding population. The growth of the country added constantly to the size of the national market, and protective tariffs shielded that market from foreign competition. The foreign capitals entered the market freely, in part because tariffs kept out so many foreign goods. The first big business was railroads in 1886 by Charles Francis Adams, Jr.
After the First World War or “the war to end all wars”, the whole world thrived with prosperity. New inventions and industries that were damaged by the war kicked off and then came the “roaring 20’s”. The 20’s brought great riches and prosperity to many. Some people developed a fortune and new life for themself. However contrary to they’re lavish lifestyle these people who acquired new wealth were seen as unworthy to the wealthy community in America (the “old rich”) and were shunned by the click of wealthy Americans who were born into they’re materialistic lifestyle.
The Great Depression and the New Deal The New Deal covered many aspects of America during the economy because the effect of it happened like a chain reaction. Franklin D. Roosevelt really made a big difference when it came to America. FDR didn’t just make one part of America better; he made sure that everyone, no matter the age or gender, was taken care of. This thoughtful and strategic move made by FDR is the reason why he has been nominated as one of our best presidents in office. The new Deals can be put into categories because, like I said before, it helped many parts of America during the Depression.
From the railroads in the past, we have learned that faster transportation is better. Everything we need travels by boat or train or plane because we understand that is one of the most successful forms of transportation. Bye replacing home-based workshops with factories we have been able to grow our production rates which in the long run put our selling rates high. By switching from hand tools to large machines we have also been able to cut our jobs down, which allows for more money in the pockets of the business men. The industrial revolution has helped the nation and economy grown so much over the time but we know, nothing is perfect.
immigration laws in america I agree with Richard raynor on allowing illegal immigrants to stay America. Immigrants work for cheap labor and help the economy grow. Not all immigrants are bad and some leave in a really bad environment. I think it would be a blessing for them to come to America for a better opportunity. Immigrants are the reason America is so powerful today.
Reasons for the economic boom in the 1920s America experienced an economic boom after World War 1 ended because of many different factors. There was a rapid increase in industry and this caused many more people, including women to become employed and to earn their own money. Many new industries were created in the 1920s; one of the rapidly increasing industries was the car industry. Henry Ford revolutionised the production of cars by creating mass production. This meant that people had one specific job on the production line that they repeated over and over so they became very good at this one job, this meant that the T-ford model could be produced every 10 seconds.