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Describe the main aspect of the economic boom in the 1920s

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Introduction

Describe the main aspect of the economic boom in the 1920s There were many aspects to the economic boom in the 'Roaring Twenties'. One of these was the Bull market that meant that the price of shares kept on rising. Another aspect of the boom was the confidence of the American people, not just in the shares but in the entire economy. The third aspect of the boom was the rise in land prices, particularly in Florida. Advertisements and hire purchase were other aspects. Mass production was yet another aspect of the economic boom. The role of government also played an important part in the boom of the 1920s. The fact that there was a Bull market in America at this time played a huge part in the economic boom. As the price of shares kept on rising many people were buying and selling shares, this made many people a lot of money. ...read more.

Middle

At the start of the 20s, land in Florida was very cheep. This meant that many people wanted to buy land there. However, as the demand for land increased so did the prices. This meant that only rich people could afford to buy land there. This was all fine until a hurricane hit Florida towards the end of the 1920s and many homes were destroyed. This ruined the lives of many people who had saved for years to buy a house in Florida. Mass production also helped the economy in America at this time. Companies like Ford made their goods on a production line. This eliminated the need for skilled workers and maximised the amount of goods that could be made for the least amount of money. This lowered the cost of goods, in the case of Ford it lowered the cost of cars. This was especially true for the Ford Model T that was nicknamed the tin Lizzy. ...read more.

Conclusion

This meant that it should be left to its own devises. This enabled many employers to continue unfair trading practices to make more money. This helped the economic boom at first. The economic boom was fantastic in the 1920s but the many faults in the boom made the 1930s the worst period in American history. Although the boom supposedly helped everyone in America many people such as black people, industrial workers and immigrants did not share in the boom. This created an uneven spread of wealth and was one of the faults of the 1920s. There were three other problems in the boom. Over production, so much had been made in the 1920s that America was running out of customers and could not go abroad because of the tariffs they had set up themselves. Speculation in the shares was the second problem. The government policy, which had worked so well in the 1920s, was the third problem. This policy would not allow the government to buy shares and raise the population's confidence in them when the prices started to dip. Daniel Cooper 11T ...read more.

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