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Economic boom usa 1920
Economic boom usa 1920
Economic boom usa 1920
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Boom Period in the 1920 America
By the end of the First World War America was regarded as the most
powerful and richest country in the world. In the 1920´s the United
States' economy was 'booming' with success and increasing prosperity,
in which a great deal of Americans, though certainly not all, shared.
This period was also known as the 'roaring twenties´. With a plentiful
supply of raw materials (e.g. oil and coal) and the policy of
isolation and containment in place, America soon became even more
powerful and wealthier.
America had great regional diversity, with each region contributing
something different to the economy. In the South there was vast areas
of farmland, cattle ranches and oil fields (e.g. Texas), the East was
a prosperous area, rich in industry and newly formed businesses and
the West-coast was home to more farmland and hi-tech industry.
Americans utilised the land and its resources very well, boasting a
successful and 'booming' economy. Mass production helped boost the
number of goods made, with the principle behind the system being
simple, yet effective. In the factories, assembly lines were set up,
with each part of the final product being put together by a separate
worker (with his/her own responsibility for that particular part) in
long lines and by the end of the assembly line, the product was
complete. The job was quick and straightforward, resulting in an
increased rise in production and therefore 'boom' in economy.
America's great regional diversity made it seem likely that the 'boom'
was always going to occur.
An example of a newly formed industry in the East was the motor car
industry. The car...
... middle of paper ...
... conclusion, I can safely summarise that the USA did go through a
great 'boom' period during the 1920s. The table below sums up the
'boom period' very well and shows to what extent things changed during
the 1920s:
1920
1929
Motor Cars on the roads
9 million
26 million
Kilometres of roads
620,000
1 million
Radios
60,000
10 million
Telephones
13 million
20 million
The 'boom period' was suddenly brought to a sharp end in 1929, as
America fell into depression and the Wall Street Crash occurred.
During the 1920s the American economy appeared to be strong, healthy,
prosperous and no doubt 'booming', but there was some serious
weaknesses which would bring the change from prosperity to depression
- there were the long-term causes of the Depression.
During 1928, the stock market continued to roar, as average price rose and trading grew; however as speculative fever grew more intense, the market began to fall apart around 1929. After the stock market crash, a period began that lasted for a full decade, from 1929 to 1939, where the nation plunged into the severest and the most prolonged economic depression in history - the Great Depression. During this inevitable period, the economy plummeted and the unemployment rate skyrocketed due to poor economic diversification, uneven distribution of wealth and poor international debt structure. The United States began a period of uninterrupted prosperity and economic expansion during the 1920s, coining the term, the roaring twenties. Automobiles and construction became the most important and excessively relied industries in the nation as a result of the assembly line and other innovations.
The 1920s was a time of conservatism and it was a time of great social change. From the world of fashion to the world of politics, forces clashed to produce the most explosive decade of the century. It was the age of prohibition, it was the age of prosperity, and it was the age of downfall.
The Roaring Twenties was a time of transformation, transition, and change in all aspect of life from the previous era. Everyday life for many people was changed. Products became cheaper and buying on credit became available. Although these transitions were made, not everybody was able to benefit from them.
Life Changes of Americans in the 1920's In the 1920's many American lives were improved greatly, but some lives were as bad as they had been before. The economy was booming, with cars being mass produced, and many other consumer goods such as radios, were widely available. Also more jobs became available, and many people recieved a par rise. However there were bad things such as racism about. Many ethnic minority groups were treated poorly.
The rapid development of manufacturing and improved farming had great impact on American
The time period known as the Roaring 20’s was filled with a lot of changes and exciting times. Every age and gender were affected by this era. Many of the changes during this time are still in place today. From courting and dating, the etiquette of women, to the changing of our education. Multiple things from the 1920’s are still being used today in our everyday life; from jobs to clothing to careers.
With the economic system, the south had a very hard time producing their main source “cotton and tobacco”. “Cotton became commercially significant in the 1790’s after the invention of a new cotton gin by Eli Whitney. (PG 314)” Let alone, if they had a hard time producing goods, the gains would be extremely unprofitable. While in the North, “In 1837, John Deere patented a strong, smooth steel plow that sliced through prairie soil so cleanly that farmers called it the “singing plow.” (PG 281).” Deere’s company became the leading source to saving time and energy for farming as it breaks much more ground to plant more crops. As well as mechanical reapers, which then could harvest twelve acres a day can double the corn and wheat. The North was becoming more advanced by the second. Many moved in the cities where they would work in factories, which contributed to the nation’s economic growth because factory workers actually produced twice as much of labor as agricultural workers. Steam engines would be a source of energy and while coal was cutting prices in half actually created more factories, railroads for transportation, and ships which also gave a rise in agricultural productivity.
World War I had placed great strains on the economies of the most European nations that were involved in the conflict. With trade agreements with countries like Britain, France and United Kingdom America’s economy flourished, as they forced these countries to accept goods in exchange for debt. The economy of America soared to new heights. America’s abundant natural resources and technological advances were used to become leaders in manufactured exports. (Encl) Usually the general public would opposed big business owners to partner with government, but as the lifestyles of many Americans elevated these relationships were accepted. By the end of the decade, 1910 to 1919, annual incomes rose from $580 to $1300 setting the stage for the “crazy years” known as the “Roaring Twenties”.
After World War I, America was going through an uplifting time of good fortune and prosperity. This period of freedom, known as The Roaring Twenties was a time for fun and disobeying rules. The 1920s brought new and exciting things to American culture. Music, entertainment, pop culture, and fads were greatly impacted during this time in history. The effects of each of these areas still influences America today.
During the 1920’s despite the Great Depression the United States economy demonstrated impressive growth during this time. The time was often called the Roaring twenties because of the rapid economic expansion. During this time more and more people were living in the city rather than on farms. Society during this time was discovering new freedoms and becoming less regimented. Although the boom in the economy did not extended to all areas, agriculture took a big hit and many farmers were going bankrupt. With the Depression lasting about a decade the economy began to diminish. The preliminary decline of the Depression was mild, but after the crash of the stock market is when it was really affected. But with these new products such as cars, household
The 1920s in America, known as the "Roaring Twenties", was a time of celebration after a devastating war. It was a period of time in America characterised by prosperity and optimism. There was a general feeling of discontinuity associated with modernity and a break with traditions.
The 1920s were known as carefree and relaxed. The decade after the war was one of improvement for many Americans. Industries were still standing in America; they were actually richer and more powerful than before World War I. So what was so different in the 1930’s? The Great Depression replaced those carefree years into ones of turmoil and despair.
The 1920s saw a boom of economic opportunity and featured large scale domestic consumption and relatively new consumer product, which was good for American industry. The First World War, which had brought famine and revolution to some countries, such as Russia and Germany, France and Britain had actually enriched America; when peace came, the Americans found themselves as the economic leaders of the world. America had great amount of natural resources which provided the American industries with the materials they needed to create goods and services in mass quantities. By 1919 other countries owed United States almost twelve thousand million dollars for primary sources and food delivered. America had enormous resources in materials and human labour force and with a wide household market, was ready to take advantage of this situation.
The 1920s were a period of economic growth and change. Real wages for most workers increased while stock prices increased as much as they had in the previous three decades; for the first time, 2,500, the majority of Americans lived in cities and towns. The appearance of current medicine permitted child mortality rates to decline significantly among the rich, but fewer other Americans appreciated regular admission to physicians.
When most people think of the U.S in the 1920s, they think of the up and coming sports industry, flapper girls, and all the new technology that was coming out. What many people don’t think of is all the ups and downs that the economy was experiencing. From the economical adjustments after WW1 and the worker strikes, all the way to the booming economy and eventual crash of the stock market. With that being said, it is safe to say that the 1920s had its fair share of ups and downs. Although the 1920s had many great attributes, it is still most widely known for the disastrous stock market crash.