• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

USA 1919 - 1941 Coursework, Question No. 2, Why was there an economic boom in the 1920s?

Extracts from this document...

Introduction

USA 1919 - 1941 Coursework, Question No. 2, Why was there an economic boom in the 1920s? This essay will investigate why there was an economic boom in the 1920s. It will lead you through the reasons why there was an economic boom and how they were linked to cause the economic boom as a whole. Lady Liberty that stands proudly in New York says, "Give me your tired, your poor, your huddled masses yearning to breathe free. The wretched refuse of your teeming shore. Send these, the homeless, tempest-tossed to me. I lift my lamp beside the golden door." After the war, this was America's statement to the world. It told people everywhere that if they were unsatisfied with life they could come to America, the 'Land of Opportunity,' for a better life. This statement caused millions of immigrants to horde over to America. They became the fuel America needed for its boom by working to improve America's economy. ...read more.

Middle

This meant that whilst all these countries had been devastated, American industry was thriving from all the sales they had made. America's industry had become the largest in the world and had created a huge European market which kept pouring money into the American economy. The war had strengthened the American economy greatly, along with the plentiful natural resources in America to be used by the industry. The bountiful amounts of money that the American economy had, paved the way for advances in technology. The use of electricity to its full potential was the main advance that boomed many other technological advances. Electricity was in most homes in America and 70 percent had electric lighting. Factories were increasingly being run on electricity and overall the electricity consumption had doubled in the 1920s. This had paved the way for a whole range of domestic goods such as cookers, fridges, vacuum cleaners, washing machines and radios which now were in such a large scale that had never been seen before. ...read more.

Conclusion

America's economic boom was carrying on and on. Every boom had created other booms, and this had continued to happen all through the roaring1920s. This had created many new businesses and strengthened current business which in turn created less unemployment, which created a richer population, who then were most likely to reinvest into American goods due to the tax on foreign goods. Confidence in American Economy grew and firms were offering to loan money to the population. This gave more money to Americans which they either spent on goods which strengthened the economy or they invested it into stocks which strengthened the economy also. All of these things contributed in the economy increasing rapidly which in the end produced a self generating economy. This self generating economy had caused American economy to be in a time of great success and all the factors which I have explained during this essay contributed to this Self generating economy. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. GCSE Economics Coursework

    Increasing interest rates are not the only external influence that affects the business, other factors could be; the European integration, this means that shops in competition can buy cheaper, better goods from abroad. Also when or if the country takes the Euro as it's currency, this will cause confusion in prices and cause demand fluctuations.

  2. Causes of the Great Depression

    Laissez-faire roughly translated means 'let things be'. It is an old economic term to describe a government policy of non-intervention. As pretty as the word sounds, it was this policy that allowed the speculation bubble to grow unchecked. There was a Federal Reserve in those days, but its powers on economic matters were not utilized as they are today.

  1. Describe the main aspects of the economic boom in the 1920's.

    harmed when other countries retaliated to the American government raising taxes on foreign imports. Economic development and inventions earlier in the 19th century also helped to bring the US to takeoff point. In the twenties, there was a substantial growth in production, jobs, profits, wages and therefore a general good

  2. The Quest for Optimal Asset Allocation Strategies in Integrating Europe.

    intersect at a single point on the efficient frontier; the tangency portfolio. We will now look at the efficient frontier as a whole to see whether the frontier shifts at any point when new assets to the investment universe are added.

  1. Describe the main aspects of the economic boom in the 1920s.

    The technological advance in the 1920s was miraculous and mechanisation in the factories increased production and supply.

  2. External Influences of Richer Sounds and Corus

    It can also have an impact on their competitiveness as the main rivals like Argos, Dixon's may also have to raise prices or accept lower prices. If Richer Sounds suffer from periods of inflation then they will experience from unemployment as it increases the costs of production lowering businesses profitability and also cause more uncertainty and less investment.

  1. Was the performance of the French economy in the 1930's entirely a question of ...

    devaluation was that France's exports, on which she had so heavily relied in the 1920's to boost her economy, were priced out of the international market, and resulted in, as Charles Rist a economic commentator during the inter war years wrote, 'the gap between the internal and external purchasing power

  2. Retailing In India - A Government Policy Perspective

    They are also penalized by the current operating environment, which favors counter stores (e.g., tax and labor laws). Consequently, prices in Indian supermarkets are slightly higher than those of counter stores - a quick survey in Chennai indicated that supermarkets were 2-3 per cent more expensive for a set of

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work