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To what extent were the 1920s a time of economic boom in the USA?

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Introduction

To what extent were the 1920s a time of economic boom in the USA? In the 1920s many Americans earned more money, worked shorter hours and owned more goods than had ever been the case before. However; some Americans remained poor particularly those who worked in agriculture or the older industries. The 1920s was a time of economic boom for some, but not for others. It begun by examining the development of new industries and a mass market and then turned to those groups which did not benefit form what had been described as 'Americas second industrial revolution'. Who Benefited? In the second half of the 19th century, the USA had become an industrial giant. This first industrial revolution based on coal, brought steam engines, steel, railways and mechanisation. The second industrial revolution, based on electricity and oil, was sparked by the First World War. Some of the successful industries in the 1920s, like steel and construction, were old industries which had been modernised. ...read more.

Middle

The car industry created more jobs because they needed people to work in factories to make the cars and put parts together also to build more roads and to make steel and leather for the parts of the car. The landscape of the USA was transformed after the war. Land grew which led to make more offices and factories being built. This in turn, led to the building of new houses, schools, hospitals and public buildings of all kind. The car also played a part in the building boom since thousands of miles of new roads were built and people began to move out to new estates in the suburbs since they could travel to work in their cars. Consumer goods such as vacuum cleaners, irons, ovens and radios were very popular and were good for the market. It was necessary therefore, to encourage people to buy the new products which became available. ...read more.

Conclusion

Farmers could not pay their mortgages and lost their homes. Thousands of farmers lived below the poverty line which meant they did not have enough money to buy food or even see it because in order to sell their food that they produced they would have to travel to other countries. In 1925 binders were changing lands for a hundred times their original value. Furthermore nobody wanted to buy land anymore because they realised they were being cheated. Gradually, the land prices had dropped. Land owners lost a fortune when a hurricane hit Florida and had destroyed all the land. The boom had then collapsed because the information that was given to the customers was false. Conclusion There were many people who did benefited such as many Americans who were not white also farmers because of the low prices of the food. However some people like the white Americans who lived in urban area were benefited and also those who could afford consumer goods such as radios, vacuum cleaners etc. ...read more.

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