After World War I, economy shot up causing historians to call the 1920s the second industrial revolution.' The economy of the 1920's was a key change as it brought about new mass production, mass consumption, and set the stage for the ever-looming Great Depression. The 1920's saw a great boom in mass production which allowed for cheaper prices of technology products. This decade was marked by an enormous expansion of consumer credit, where Americans were used to finance purchases of new products such as the growing popularity of cars and radios, which were created by the mass production. The automobile, movie, radio, and chemical industries skyrocketed during this decade-one of the most important was the automobile industry. As mass-produced automobiles were churned in by Henry Ford, about 1.9 million cars had been sold by the end of 1929. The economy of the automobile society had a great impact on not only business, but also society. Henry Ford, who had revolutionized the new workers day and the concept of mass-production, had indirectly affected how Americans lived and behaved. Cars promoted other markets to grow, such as steel, rubber, glass, and petroleum. It also promoted urban and suburban growth, where a new class of Americans was rising. Now, citizens could drive to new places, meet new people, act differently
etc
The speed with which the products of mass production diffused through America was astonishing: not just automobiles but also washing machines, refrigerators, electric irons, electric and gas stoves--a whole host of inventions and technologies that greatly transformed that part of economic life that takes place within the household. However, this changing and rising American economy cause called one major consequence. For one of the major consequences of mass production was the building-up of the stock of capital goods for within-the-home production. And this of course, was the biggest key change
because it seemed like the rising stock market and industry of the 1920s would stay forever. This rising stock market led to the Great Depression
a downward spiral of economic depression.
The booming economy of the 1920's led to the Great Depression. It affected almost all of the industrialized world. The main cause of the depression was because of the unequal distribution of wealth throughout the 1920's, and the extensive stock market speculation that took place during the latter part that same decade. The mal-distribution of wealth in the 1920's existed on many levels.
In the Roaring Twenties, people started buying household materials and stocks that they could not pay for in credit. Farmers, textile workers, and miners all got low wages. In 1929, the stock market crashed. All of these events started the Great Depression.
The Great Depression was most likely the most severe and enduring economic crashes in the 20th Century (Source 1). That included a quick drop in the supply and demand of goods and services along with a big rise in unemployment (Source 1). Many things were the cause of the Great Depression, one is the U.S. stock market crash (Source 1). And two is the widespread failure in the American bank system
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. These are the events that lead up to the crash.
There were many causes for the Great Depression. The first and one of the largest was the stock market crash. Before 1929 the stock market was flourishing and everyone wanted to buy stocks. People were so confident in the stock market that they were buying “on margin”, which meant that brokers would lend them 10% of the money they invested (D1). The problems began when stocks were being over speculated. When people began to realize this, they began selling there shares. On October 29, 1929, 16 million shares were sold (D9). This day became known as “Black Thursday”, the day the stock market crashed (D12). The second reason was the overproduction of goods. Factories had already produced too many goods and now there was no demand for them. The government began to raise tariffs to protect Canadian industries but things only led downhill from there.
Sister Claire Evelyn Trestrail was the eldest of five being born on the 10th of December, 1877 in Clare, South Australia. Trestrail served in the First World War as a nurse following in her mother’s footsteps who was a trained nurse, Acting Matron of King Edward Hospital in Perth and also had involvement within the Red Cross and the Saint John’s Ambulance Services. Trestrail’s younger siblings also had involvement within the First World War with her two younger brothers; John Henry and Amarald Glen, serving in the royal Flying Corps and respectively, 1 Machine Battalion. Amarald was also presented with a Military Medal for Gallantry at Villaret. Sister Ella also served as a nurse, got married, but tragically returned as an amputee. It was only her youngest sister Amy who did not serve during the war.
Some say that the great depression was caused partially by social democracy and planned economies. And although this could be true, it originally started from debts from World War I, and of course the stock market crashing in 1929.
The most significant cause of the Great Depression was overproduction in the 1920’s. Factories and farms were producing more than people could buy. From that prices fell, factories closed, and workers were laid off. When prices fell, the economy started to collapse. Fewer places to work also created a small number of workers to produce money. In 1930, the unemployment rate for non-farm workers was 14.2% and it rose even more in 1933 at a rate of 37.6%. Over-production had a ripple effect towards America’s economy. The act of overproduction during the 1920’s was the greatest cause of the Great Depression. Companies were creating too much for people to buy resulting into a under-composition and a lower economy.
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 in 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 education 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 transformed by modernist ideas, the world of the 1950’s was reinvigorated by the introduction of the automobile to the middle class....
The 1920's were a time where North America became modernized. Whether it was the music, the culture or the growth in technology, this time era is known to most people as the point where America advanced itself to become a world renowned country. An advancement that will be focused on is the Ford Model T. During this time owning a car was a symbol of wealth. Henry Ford, the creator of the Model T, made a system that revolutionized the automobile industry as we know it today. Henry Ford made it possible for people with an average income to own a motor vehicle by creating the assembly line and the theory of mass production. "The horse, which had been the chief means of land transportation for 3,500 years, had given way to the automobile, and the country's largest industry had been born." (Gordon)
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.
The Second World War began in September of 1939 and was between the Allies and the Axis. It began with Germany’s unprovoked attack and conquest of Poland, and involved Britain and France from the beginning. Its origins lay in German resentment at the terms of the Treaty of Versailles (1919), the economic crisis of 1929-30, which favored the rise to power of Fascist dictators, the failure of the League of Nations to gain international acceptance for disarmament, and the policy of imperialism adopted by Germany, Italy and Japan as a means of acquiring raw materials and markets. As a part of the Treaty of Versailles, Germany had to accept full responsibility for the First World War, which then led up to the outbreak of the Second. The reparations chapter of the Treaty of Versailles was universally condemned in Germany. Article 231, a proclamation of German guilt, had been inserted to establish Germany’s moral responsibility for the war and, therefore, her legal responsibility for all damage to property and persons and was disliked because of the War Guilt clause it contained. Germany, prepared for military conquest by Hitler, remilitarized the Rhineland in violation of the Locarno Pact. The League of Nations failed to react firmly either to this or to the conquest of Ethiopia by Italy under Mussolini. The Second World War was indeed one of the greatest conflicts in history. What started out as a European struggle, soon emerged to the level of worldwide warfare. The Prime Minister of England, Winston Churchill, American President, Franklin Roosevelt and Russian leader, Joseph Stalin were just a few of the leaderships that tried to bring their nations to victory. Although they all could not have “won” the war, these particular three men worked together to form an outstanding alliance system.
In the History of the world, human race, there have been many wars between different societies, Cultures, and Countries. Massive blood shed in many of these wars did not stop the coming of new conflicts of interest, peaking to battle. World War Two, one of the biggest war of history brought several countries to battle against each other (1939-1945). The catalyst of this war was one man whom discriminated against other cultures for no reason but to exterminate the Jewish race, known as Adolf Hitler.
December 7, 1941, Japanese attacked Pearl Harbor, a day that will live in infamy. Mrs. Augspurger remembers feeling shocked. There had been reports of the Japanese becoming stronger, but she had no idea they were strong enough to attack us and hurt us like they did. At first, people did not believe we were attacked; they thought it was a drill. We were a strong nation and weaker nations would not dare attack us on our own soil. Because of the events at Pearl Harbor, the United States joined WWII.
World War II was one of the most deadly wars we know in history, having as many as sixty million casualties, most of whom were civilians. It impacted a lot of countries, almost all the world, which is why the name is given. This war impacted many countries in the world, and damaged almost all of the countries involved greatly. It also led to the downfall of Western European countries as world powers, leaving it to the Soviet Union, and the United States. The war started in 1939 and ended in 1945, with the invasion of Poland and the Axis surrender, respectively. It changed the economy and the growth of big countries, including Germany, Great Britain, United States, Japan, Russia and France. Aside from this, Jews were greatly influenced too. They were damaged, but then gifted.
Many Americans had enough money to buy not only basic necessities, but also had sufficient funds to splurge on new products that encouraged a social change, like the telephone. The period patented the rising of modern mass-production. An example of this would be, Henry Ford’s assembly line that produced over 4.8 million affordable automobiles in the 20’s, which was later surpassed by General Motors (Foner, 771). Including a mass-consumption economy, which brought revenues to investors, whilst raising the living standard of the urban middle- and working-class. The greater minority of Americans who made their living wages in farming, the decade resounded merely with the distress of a continued depression. Farmers did not share in the economy growth, but instead saw a decline during the 1920’s due to a surplus of crops that weren’t needed after the war. A negative impact was also the cut back of government spending. Due to the heightened consumerism and gap in middle classes and increased incomes, the Stock Market crashed and was also followed by the Great Depression, giving an end to a prosperous economic era, as seen in