History Revision Notes - USA Economic Boom in 1920s

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JOSH WEST        11HR        11/12/11

  • 1920s KNOWN AS BOOM YEARS
  • BOOM IS DEFINED AS A PERIOD OF RAPID SIGNIFICANT ECONOMIC    

     GROWTH WHICH IS PROBABLY UNSISTAINABLE

1: - ECONOMIC BENEFITS OF WW1 TO USA

  • USA DEVELLOPED INDUSTRY BY
  • SELLING ARMS TO COUNTRIES PARTICIPATING IN THE WAR:
  • SELLING TO COUNTRIES NOT ABLE TO TRADE WITH GB/FR/GER
  • US AGGRICULTURE DEVELLOPED PRODUCTION METHODS TO INCREASE FOOD TO SELL:
  • EXTENSIVE FARMING
  • MECHANISATION
  • US RIVALS DAMAGED BY:
  • DIRECT WAR DAMAGE
  • IN DEBT TO USA AND OTHERS
  • LOST TRAINING MARKETS
  • LOST A GENERATION OF WORKERS

2: - REPUBLICAN GOVERNMENT 1921-33

  • 1921-3 PRESIDENT WARREN HARDING
  • 1923-9 PRESIDENT CALVIN COLLIDGE
  • 1929-33 PRESIDENT HERBERT HOOVER
  • POLICIES
  • DOMESTIC CONCENTRATION – AVOID FOREIGN AFFAIRS
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  • A.K.A. ISOLATION
  • SMALL GOVERNMETN – GREATLY REDUCED TAXES
  • PERSONAL EXPENDATURE WOULD INCREASE
  • STIMULATES THE ECONOMY
  • HIGH TARRIFS PLACED ON IMPORTS
  • SO PEOPLE BUY U.S. MADE PRODUCTS

3: - NEW INDUSTRIES

  • A) MOTOR INDUSTRY:
  • HENRY FORD – WITH THE MODEL T
  • MASS PRODUCTION – MAKES UNITS CHEAPER
  • B) ELECTRICAL GOODS
  • ‘WHITE APPLIANCES’
  • FRIDGES/WASHING MACHINES/VACUUM CLEANER/OVENS/IRONS
  • LEISURE GOODS
  • RADIOS/TELEPHONES/GRAMMAPHONES
  • C) FILM/LEISURE
  • HOLLYWOOD
  • 1926 – PRODUCTION -> DISTRIBUTION -> CINEMAS
  • DAVE HALLS
  • GRAMMAPHONE RECORDS
  • SPORT

4: - CREDIT

  • HIRE-PURCHASE
  • FRIDGE – INSTALLMENTS
  • YOU PAY INSTALLMENTS ON AN ITEM
  • YOU GET THE ITEM FIRST, THEN PAY IT OFF LATER
  • ...

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