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

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Introduction

Describe the main aspects of the economic boom in the 1920s. The economic boom of America was largely due to the introduction of mass-produced products and new revolutionary industries. It was a time in America when many new 'gadgets' were invented that a large number of people wanted to buy. Products such as radios, refrigerators and telephones took the country by storm and were extremely popular. By 1929, ten million homes had radio sets, as a result of the trend started by Station KDKA - America's first radio station. The popularity of such consumer goods increased the availability of jobs in the industries that produced and distributed these products, increasing the factory owners' income. ...read more.

Middle

America was lucky in that it got off lightly from the First World War: the country was intact, most of the soldiers returned home safely, and everyone owed America money. Allied countries had borrowed money off America to pay for the war effort. The greatest boom in business took place in the motorcar industry. Henry Ford of the Henry Ford Motor Company first came up with the idea of 'mass-production', which later became one of the greatest landmarks in industrial history. He suggested that it would benefit both the producers and the consumers of a product if that product were to be built on a production line. ...read more.

Conclusion

Other industries benefited from the boom in the motorcar industry due to their materials being used to produce the cars. These were industries such as the oil, glass, steel, rubber and chemical industries. However, the economic boom of the 1920s didn't benefit everyone. Farmers made less money as people tended to buy more mass-produced goods, causing them to have to close down their farms in places. This meant the farm labourers, most of whom were black, lost their jobs as well. Black people in general didn't benefit from the boom either, as many of them worked as unskilled workers making less money than the workers in the factories. Also, most black people were living in the South of the country where there weren't large factories and business to work in like the more industrialised North of the country. ...read more.

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