Peacetime Economy 1920s

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The 1920s went by a number of names such as The Jazz Age, Age of Intolerance, The Age of Wonderful nonsense, and The Roaring Twenties which described the 1920s. The United States has just survived a deadly worldwide influenza attack, also taking part in World War I. Americans wanted to enjoy a regular day, President Warren G. Harding promoted a “Return to Normalcy” which mired a conservative, laissez-faire attitude. These policies would also decisively affect the economy as well alternating a wartime economy to being a peacetime economy. This would open the door for booms and busts in every aspect of life in the United States. Automobiles and radios would become a major part in The United States economic and technological boom. This would increase…show more content…
to isolate and promote nativism into itself. This allowed the U.S. to prosper tremendously. The nation total income increased from $74.3 billion in 1923 to $89 billion in 1929. These billion were shared highly unequally in the United States. Evidence of the is in the study done by Brookings Institute stating: In 1929 the top. 1% of Americans had a combined income equal to the bottom 42%. That same top .1% also controlled 34% of all savings, while 80% of Americans had no savings at all. An example of the unequal distribution between the rich and the middle-class is Henry Ford who reported a personal income of $14 million. In that same year the average yearly income for was $750! Present day standards for the yearly average income are 18,500. Henry Ford now would be making around 345 million. The disparity in wealth grew largely throughout 1920 .the number of millionaires increased from 21 in 1920 to close to 15,00 in 1929 . The average disposable Income rose 9% from 1920 to 1929, while the top 1% enjoyed a stupendous 75% increase of disposable income. An example of the quick increase of the disparity of wealth is Charles Ponzi and the Ponzi scheme who had shipped clients’ money across the oceans and had his agents buy international postal union reply coupons at depressed rates. Then sell them in other alien outposts. This…show more content…
Those companies couldn’t survive without and just like those companies who relied upon the automobiles success couldn’t grow without the radios growth. By 1930 40% of all Americans owned a radio. Listeners would gather in their living rooms and tune into sporting events (Baseball and Boxing were very popular during this time period and also helped weigh in on the disparity of wealth in the 1920s), concerts, sermons, and the widely popular “Red Menace News”. Advertisements also became very dependent on the radios growth advertising all over the radio to appeal to the listeners. The radios and automotive industry were widely popular because of the use and need for them during World War I. This led to the radio and automobile and the material needed to build them produced in large quantities through the use of mass production which became very popular and modern way to build all products. Mass production allowed Henry Ford’s automobiles to become highly
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