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The economic boom of the 1920s
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Recommended: The economic boom of the 1920s
In my opinion the boom of 1920s America was caused by a number of different factors working together. No single factor could have caused the boom on the scale of what America experienced in the 1920s. The economy grew by a huge amount in a such a small space of time, it had to be several reasons why this boom was so big. The amount of cars in America had more than doubled from 9 million to a staggering 26 million. Even more so, the radios had risen from a measly 60,000 to a phenomenal 10 million. Similarly phones doubled from 10 to 20 million., and for every fridge before the boom there were 167 after. On average most sales more than doubled, this being a significant change in the economy of America. That said I do believe that mass production is one of the most important reasons if not the most important. It caused America to have goods, which normally only the rich could afford, available to many more people. These included goods such as silk stockings which, after a mass production break through with the synthetic material, rayon, was able to increase stocking sales from 12,000 to 300 million. This all clearly shows that mass production was a key element in the succession of the boom of America in the 1920s. However, as with the stockings example, natural resources would be needed for the creation of such synthetic materials, which shows that there were other contributing factors to the boom and that mass production could not have been as it was without other elements. Natural resources were one of the main causes of the boom. America at the time was packed full of natural resources, and they were making full use of this. Oil & gas industries were thriving which had various effects such as enabling the use of the car and the... ... middle of paper ... ...ges increasing creating good living conditions for the time. This reason didn’t really boost the boom all that much but it was very important to make the citizens happy, because otherwise all the marketing, development production etc is no use if there is nobody there to buy it. All in all I do think that mass production is very important because it kept the boom going. I think without it wouldn’t have made but that said, I don’t think It would’ve survived long with any of the other reasons. I therefore think that you can’t class any as the ‘most’ important reason, and that they were all as important. In terms of effect on the boom, mass production probably did the most, but only because of the contributing factors helped it to really get going, so I believe that I slightly disagree with the statement because I don’t think it was the most important on its own.
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”.
prosperity for many. We see this with the invention of the low-cost Model T, flappers redefining
The start of this decade was an economic boom. With the war over and done, people were happy and rich. This did not last long. By the end of the century the Great Depression would begin.
During the 1920's America experienced an increase like no other. With the Model T car, the assembly line, business skyrocketed. Thus, America's involvement in World War II did not begin with the attack on Pearl Harbor. Starting in October 1929, the Great Depression, the stock market crashed. It awed a country used to the excesses of the 1920's.
Conclusion: One of the greatest economic booms in history had an everlasting ripple effect on culture, businesses, and lifestyle in Texas. The discovery of oil in Texas allowed America to take leap forward into a leading nation. Texas oil gave America a fighting edge to win the war, gave Americans advantage to travel faster and quicker. Texas oil helped America go from agriculture nation into the top industrial nation much quicker than anticipated.
This is where the concept of “welfare capitalism came into effect. Welfare capitalism is defined as the practice of business providing health, happiness, and fortune services to their employees. Americans that were fortunate enough at the time to have an education and were among the skilled working class were offered paid vacations, pensions, and benefits (FLORIDA IN THE LAND BOOM OF THE 1920’S). This type of leisure played a key role in the Land Boom. Families and individuals of the middle aged, middle class America were travel for vacations or simply to escape the harsh winter climate in the north thanks to the automobile. The invention of the automobile gave citizens the means to travel greater distances in considerably less time. Another key factor that came into play was politics. The Florida government played a key role to the success of the Land Boom, this type of cooperative government gave investors and travellers the easy access to purchase land with great incentive. President Warren G. Harding promoted lower taxes and greater business prosperity at a nation level (FLORIDA IN THE LAND
Technology played an important role in the daily lives of Americans in the 1920s. Many inventions and new developments occurred during this time. A large number of items that are used today were invented by individuals and teams in research laboratories. This technology brought many conveniences such as electrical power and indoor plumbing into the home. Radios gave people access to the news and provided entertainment. Mass culture was also born and the automobile became the largest consumer product of the decade. By 1929, one in five Americans had an automobile on the road. America experienced a decade of economic growth due to the impact of technology in the 1920s.
Many new industries were developed to support mass production of goods, such as, roads, tires, and all the items it took to build a vehicle for the automobiles.(David Shannon, 217) The chemical industry grew in the United States after First World War because America couldn't get the chemical anymore they had gotten from Germany. (Shannon, 219) Americans wanted the access to electric power which included: lights, radios, and washing machines. There was a mass movement of people from the country to the city looking for jobs. The rural life couldn't support a family like urban living could, people left the farming industry and moved to the manufacturing industries which damage the ability for agricultural to survive.(Shannon, 219) The effects of prosperity revolved around the automobile specifically younger people's ability to escape adult supervision.
People now had the chance to look for gold out west and the Gold Rush began. This is when America really had its boom. Lastly, we now have twice as much, if not more, natural resources than we had before.
Throughout the late nineteenth and the early twentieth century, the United States economy changed dramatically as the country transformed from a rural agricultural nation to an urban industrial gian, becoming the leading manufacturing country in the world. The vast expansion of the railroads in the late 1800s’ changed the early American economy by tying the country together into one national market. The railroads provided tremendous economic growth because it provided a massive market for transporting goods such as steel, lumber, and oil. Although the first railroads were extremely successful, the attempt to finance new railroads originally failed. Perhaps the greatest physical feat late 19th century America was the creation of the transcontinental railroad. The Central Pacific Company, starting in San Francisco, and the new competitor, Union Pacific, starting in Omaha. The two companies slaved away crossing mountains, digging tunnels, and laying track the entire way. Both railroads met at Promontory, Utah on May 10, 1869, and drove one last golden spike into the completed railway. Of course the expansion of railroads wasn’t the only change being made. Another change in the economy was immigration.
The United States began a period of uninterrupted prosperity an economy 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. However, the prosperity depended only on these few basic industries, thus,
The Gilded age (1875-1900) was an era in history when rapid industrial growth was overseen by the government, which led to a dystopian idea of capitalism and a corrupt government. The political scene was dominated by small groups of political leaders who managed business and corporations. While predominantly an era of corruptness, the Gilded Age also sought the Progressive Era, which was an era of reformation of the United States. The passing of the Civil Service Act required people to take certain examination for governmental professions, in attempt to reprieve the corruption within the states. In addition, The Interstate Commerce Act attempted to end issues dealing with railroads, while the Sherman Antitrust Act reprimanded monopolies within
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.
variety of reasons; primarily the railroad boom of the period. The railroad had a dramatic impact upon the citizens of the nation and left a legacy of positive impacts.
World War II brought peace and economic prosperity to the Allied nations, which allowed for the fertility rate in North America to increase. This caused an explosion in the population of the U.S. especially, with around 78 million babies born by the end of the 1940s-1960s, according to Colombia Dictionary. Similarly, Canada experienced a surge of 479,000 babies following the 1950s (Henripin, Krotki 1). A large population amounts to a shift in demographics, and subsequently the social system of North America started to change gradually in order to adapt to the new baby boom generation. As a result of a new economic affluence in the continent, North American society became materialistic and consumerism seized a big part of the economy (Owram 309). Children became an important demographic for companies, leading to the toy industry benefitting and expanding (Gillion 5). Technology advanced considerably, too: in the 1950s, the television became a ground-breaking medium that helped people spread ideas, see what was going on in their country and the rest of the world, much like what the printing press did for the Renaissance. Although the post-WWII baby boom only occurred in a few countries, namely the U.S. and Canada, this time period transformed the West and the world immensely—the areas of life that were affected during the baby boom went on to greatly influence later generations and decades due to the change and reform it yielded, which replaced the outdated and unethical traditions of the old West and the world.