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Why was there economic prosperity in American in the 1920’s? I know that America on it’s surface was prosperous during the 1920’s. I know this because of the physical signs, and the evidence I have found supporting this concept. Some of the physical signs of the then prosperity are evident today, like the skyscrapers and Empire State building. There were the inventions of manufactured fabrics and materials such as Bakelite, artificial silk and Cellophane. Airlines carried almost half a million passengers a year, which compared to Europe at the same time, was a massive number of people. In this essay I will analyse all the reasons behind the economic prosperity in 1920. World War 1 assisted America’s latter prosperity. Throughout the war American industry benefited, because countries that couldn’t buy goods from Europe, did so from America. And along with this Europe bought products from America, products that they weren’t producing while they were fighting. Furthermore, during the First World War, American banks lent money to their European Allies. In the 1920’s, this was being paid back with interest. The war had also led to advances in technology, such as mechanism and manufactured materials. Production of Iron Ore, coal, petrol and wheat and exportation of chemicals, wheat, iron and steal all had increased considerably by the end of the war. By the end of the war, America had decided to isolate itself from the problems of Europe, and set itself about making the most profit in business. This isolationism built up the confidence of the American people. An increase in personal wealth, demand and output production all helped America’s prosperity. Banks were eager to lend money to businesses and individual’s. With this easy money, and the introduction of hire-purchase schemes, the demand for products increased. Consumer spending was incredibly high, which is reflected in the statistic that in 1920 there were 312 department stores, and by 1929 there were 1395. There was a consumer boom. Business profits rose by 80% during this period, which in turn raised share dividends by 65%. Also some women had continued working as they had done through the war. Both of these elements contributed to giving people again, more money to spend. However, the availability of money was not the only reason for increased consumer spending. New inventions such as vacuum cleaners, refrigerators and washing machines became available, and advertising over the popular radio encouraged consumers to spend more on everyday products.
The mid-19th century is one of the major turnarounds in the history of the United States. That is the time when America became an industrial giant and emerged as one of the most powerful countries in the world. The Industrial Revolution changed the people’s way of living in the whole world, especially the United States, from hand and home productivity to machine and factory. America rose from a rural and agricultural country to an urban-industrial that introduced new technologies. The United States has been through a lot of ups and downs in spite of its emergence and three books tell the story of the Industrial America from three different perspectives.
As the American economy was gradually recovering thanks to the New Deal, Roosevelt decided to increase interaction with neighboring countries. When the Second World War began, Roosevelt saw it as an opportunity to increase production and boost America’s economy. During the 1930 to 1940s, the production of munitions greatly increased. The Second World War significantly increased American economic interaction with South America, Great Britain, and Canada. This lead to greater relations between Latin America and a faster victory as U.S. citizens began to see a shift in economic, political, and social ideals.
However, American consumerism was praised as contributing to the ultimate success of the American way of life. People wanted televisions, cars, washing machines, refrigerators, toasters, and vacuum cleaners (PBA). Between 1945 and 1949, Americans purchased 20 million refrigerators, 21.4 million cars, and 5.5 million stoves (PBS).... ... middle of paper ...
This source describes how the 1920’s era displayed the beginning of modern America. The site discusses the economy and how technology played an instrumental role during this time. The source also gives information regarding the presidential administrations and the stock market during the 1920’s.
World War I may not have made the world safe for democracy, but it did help to lay the groundwork for a decade of American economic expansion. The war began in Europe in 1914, and the United States entered the fray in 1917. The 1920s saw the growth of the culture of consumerism. A significant reason for United States involvement in the war was the nation’s economic links to the Allied Powers, and especially to Great Britain. American soldiers returned home in May 1919 with the promise of a prosperous decade (Baughman 197).
From 1865 to 1900, technology transformed the United States during the period known as the Gilded Age. During this time, the lives of the American people ultimately changed, for many Americans, including farmers, were able to share better food, yield more land, and help contribute to the overall standard of living. However, in order to attain a profit, farmers had the precarious responsibility of gathering the essential tools and crops to meet the nation’s demands. As a result, more raw materials, such as wood were being consumed in factories. In order to uphold the continuum of the vast growing nation, there was a demand for faster and easier means of transportation.
In Conclusion, the success of the war was substantial impacted by the work on the home front. However, even though it had a substantial impact it wasn’t the only reason America was so successful. The way the production changed during World War Two still impacts our lives today due to all the great inventions we got out of World War Two and the decades after.
in the twenties when a man by the name of Walt "Elias" Disney (1901-66) a
In the 1920's, corporations started to take better care of their workers than they had in the past. Workers were paid higher wages and worked shorter hours. With more time and money on their hands, workers turned into consumers, which caused an increase in the production of consumer goods. One of the most popular consumer goods is the automobile. To keep up with the high demand, the automobile industry had to create a way to make a lot of cars in a short amount of time, at a low price.
On the heels of war, new technology caused a decrease in prices of goods in the 1920’s and in the 1950’s the GI Bill increased income. The bureaucratization of business in the 1920’s meant that more people could be employed in higher paying white-collar jobs than before, including, for the first time, housewives. This new income combined with the reduced prices for goods that resulted from mechanized production, assembly lines and a general decrease of the cost of technology created a thriving consumerist middle class that went on to fuel the economy in all sectors, especially the upper classes. Likewise, during World War II Americans saved up around 150 billion dollars, and this sum combined with the income of the GI Bill allowed normal people to buy expensive things, from houses to cars to electronics to educations at a rapid rate, fueling the trademark prosperity of the 1950’s. The new automobile culture of the 50’s spawned new businesses that catered to mobile Americans, such as nicer and more standardized hotels like Holiday Inn, and drive-up restaurants like McDonalds. Just as the culture of the 1920’s was transfo...
After the First World War America was a completely different country. The twenties was a very unusual time period in American History. The twenties were a time of fun and partying. There are many reasons why it was called the Roaring Twenties.
October 29th, 1929 marked the beginning of the Great Depression, a depression that forever changed the United States of America. The Stock Market collapse was unavoidable considering the lavish life style of the 1920’s. Some of the ominous signs leading up to the crash was that there was a high unemployment rate, automobile sales were down, and many farms were failing. Consumerism played a key role in the Stock Market Crash of 1929 because Americans speculated on the stocks hoping they would grow in their favor. They would invest in these stocks at a low rate which gave them a false sense of wealth causing them to invest in even more stocks at the same low rate. When they purchased these stocks at this low rate they never made enough money to pay it all back, therefore contributing to the crash of 1929. Also contributing to the crash was the over production of consumer goods. When companies began to mass produce goods they did not not need as many workers so they fired them. Even though there was an abundance of goods mass produced and at a cheap price because of that, so many people now had no jobs so the goods were not being purchased. Even though, from 1920 to 1929, consumerism and overproduction partially caused the Great Depression, the unequal distribution of wealth and income was the most significant catalyst.
The distribution of wealth in the 1920’s, “roaring twenties,” was done with despair between the very wealthy and the lower classes, between industry and agriculture within the United States, between the U.S. and Europe. This imbalance of wealth created an unstable economy. The excessive assumption in the late 20’s kept the stock markets artificially high, which eventually lead the large market crashes and the American economy to turn over.
America was on fire during the period of excitement. These new inventions are making home life easier for women and more enjoyable for the men. Not only were American families buying these new trinkets, but they also started purchasing stock in companies at an increased rate. A commodity that was available before the war but not readily accessed, now has as many as seven million Americans buying and owning company stock after the First World War. With the purchase of automobiles, washing machines, and stock, families were still not making enough to keep up.
During the twenties the economy had a definite impact on the society. It benefited some, but hurt others. The people that benefited were the prairie farmers and the oil companies. The people who didn’t benefit were American soldiers returning from WW1. Around the middle of the twenties, a wheat farmer was the person to be. Business was booming for all the wheat farmers, places like Europe, which were in war, were hungry for American’s wheat and contributed tremendous business to the American wheat industries. Farmers began making more money than ever before, and they started buying farm machinery to take place of their cattle and horses. Prices of wheat were at an all time high, which gave America’s wheat industry an even bigger advantage and a bigger form of money making in our economy. American soldiers on the other hand who had returned from war were expecting to be employed when they returned, but not even after fighting for their country could they get a job. It was very hard to get a job because women and immigrants had taken them all during the war. American soldiers were surprised at how difficult it was to...