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What Were The Main Aspects Of The Economic Boom in the 1920’s?

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Introduction

What Were The Main Aspects Of The Economic Boom in the 1920's? The main aspects of the economic boom in America during the 1920's were a huge growth in industry with mass produced goods, high levels of employment, new spin off industries, all of which had a tremendous effect on people's lifestyles and their attitudes. Also the government cut taxes meaning that people had more money to spend on products, but the government introduced tariffs on imported products so that they were more expensive than American products. There was a huge growth in mass produced goods, because many new inventions had been created to be used around the home, such as, vacuum cleaners, fridges and cars there were also many more inventions that we now take for granted. This also changed people's attitudes and lifestyles because it meant that cleaning a house wasn't such a manual task, so women could clean their houses quicker than before so they had more free time meaning for the first time in history women could have a social life away from their husbands. ...read more.

Middle

Moreover the farmers had no money to pay the black American workers so both the farmers and unskilled workers had trouble trying to support their families. Many of the farmers ended up abandoning their farms and moving to cities to try and raise money, it wasn't just the farmers that were over-producing products, many of the mass production industries were doing it as well. Due to the fact that they now how the ability to build many products quickly and easily. The owners of companies over produced because they had sold a lot of the products when they first came out, because it was the first time that people had the opportunity to own these products but every house will only want one so when the own it that is that. The companies had not thought about this so they never slowed down or stopped production of the items. There were many spin off industries created by this boom of inventions, for instance, due to the fact that cars were now widely available more people would be using the road systems, so the roads had to be made bigger and better quality. ...read more.

Conclusion

Many young people looked upon the boom the same way as a lot of businessmen looked at it, they thought that the prosperity and easy living was never going to end and didn't stop what was heading towards the Wall Street Crash. I think that the economic boom of the 1920s was caused due to many different reasons, but an important detail is that all three of the presidents during the 1920s were Republican, they had all decided that the business was doing so well that they should not interfere with it. The Republican party were also believers in "Rugged Individualism" which meant that the government tried to stay out of businesses way. They had also reduced taxes meaning that more people were spending and making more money meaning that there was more money being passed around in circulation. There were still exceptions to the economic boom and prosperity though, because farmers and black American workers were still living in poverty, they had never gained anything from the economic boom of the 1920s. Moreover they had only experienced bad sides of the boom, for instance the over production over wheat and unemployment. By Jamie Sams ...read more.

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