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To What Extent Was The American Economy Booming In The Period 1917 - 1928

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To What Extent Was The American Economy Booming In The Period 1917 - 1928? America became a whole different country after the First World War. The 1920's in America will always be remembered for the boom in economy. 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 an exciting time of great opportunities. The hours you would work in a week had dropped from 60 to 48 hours. For the first time, the Americans considered having fun just as important as work. Huge numbers of people had radios went to the movies and owned a car. The car and transport industry was the largest. The assembly line made mass production possible, and the industry boomed. ...read more.


Margins were where you would buy a section of stocks i.e. for �1000 but you have to pay �100 deposit now. So you would loan this money from the bank. You would then wait for the shares to go up and cash your stocks out, pay your bank back and end up with the profit. Tax was kept low and businesses and companies were able to keep much of the profit to invest in new and efficient factories, which produced goods at a cheaper price and due to the Laissez Faire they could choose the wages quite freely. Advertising also played a part in the boom, these persuaded people to buy their items. Advertising took place on posters, radio, newspapers, magazines and the cinema. Tariffs were also placed on bought goods bought in from objects on other countries so the buyer would prefer to only buy American goods. ...read more.


They got the labour intensive jobs like cleaning the windows and scrubbing the floors. The black people also suffered from the boom because farmers had to give up their farms, as they made no money. The people who worked on the farms then in turn lost their jobs. The blacks had to move to the cities to find jobs. They had to work long hours. The black Americans lived in the slum areas and lived in dreadful living conditions. They were often tarred and feathered or even hung. There were strict differences between the races. The last lot of people not to gain from the boom were the farmers. The price for wheat had fallen. They would have to abandon their farmland and move to the rural areas. Over 600,000 farmers went bankrupt within 5 years. The quality of living conditions slightly improved but America was still far from perfect. ...read more.

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