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Explain the main features of the US economic boom of the 1920s

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Introduction

Explain the main features of the US economic boom of the 1920's At the start of the 1920's the US was doing well, the twenties were a time of fun and partying. Most of the American people were living a great life and were able to afford luxury items, even though this didn't apply to every one many believed that it was excellent and exciting a time of great hopes. After the war much of Europe was struggling, so therefore the US had taken over their trade. Also, after the war many immigrants moved to the US, this was the best source of cheap labour and increase the population largely. This helped contribute to the US being, 'on top!' Another reason why the US was doing so well at the start of the 1920's was because they had natural resources like oil, coal and electric. ...read more.

Middle

The US people would by new products instead of fixing them because people could now afford more luxury goods like telephones, fridges, radios, and more. In 1919, only 60,000 people had radios whereas in 1929, 10 million did, people wanted new technology, and could now afford it on credit and could also buy cloths easier but mail order. Clothing sales had gone up buy 427% in the 1920's. They became a gadget conscious nation. During the 1920's the transport and communication industry had rapidly improved as in 1919, 10 million people own a telephone and in 1929 it was 20 million. The car industry, thanks to Henry ford's mass production, had bloomed. More people wanted, and now could because of the price, a car so therefore they sales went up for being 9 million in 1919 to 26 million in 1929, this shows how much more people were using cars. ...read more.

Conclusion

Another way to use adverting was to have new big, modern, tall and grand buildings, to show the wealthy and prosperous companies. The government in 1920 was republican and they encouraged people to own their own businesses. They lowered they income tax from 28% to 26% and so therefore the wages increased and people had more money. 'The Fordney-McCumber Tariff' was an import tax they put on any trade out side of the and in September 1922, Fordney-McCumber tariff was signed by the president. The other countries were not happy and so therefore increased theirs. All this increased the employment from in 1921, 11.9% of Americans (5 million) to being 3.2% of Americans (1.5 million) in 1929 and the average earning had gone up by 110%. The Standard of life in the 1920's for most was amazing recorded, the 'highest ever,' as most felt confident about there success and over all successful time in US history. There life styles were healthier and better off for them! ...read more.

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