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why was there an economic boom in the 1920's
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Why was there an economic boom in the 1920s?
Why was there an economic boom in the 1920s? There was an economic boom in the 1920s for 5 main reasons. Firstly the growing strength of American Industry meant that the USA was a leading producer of many raw materials. This was partly due to the second main cause of the boom, which was World War 1. This had helped the American Industry to grow, as during World War 1 new markets had opened up to America. Also, after World War 1, America took over as a leading producer as many European industries had suffered greatly because of the war. Government policies meant that businesses could thrive without government interference. World War 1 led to new markets being opened to America. This resulted in America developing new industries and new industrial ideas. These new industries meant that Americans believed that America was the most powerful country in the world. There was also other little factors that led to the boom and helped it become self- generating, these are mass- production, mass- marketing and credit.
The first of these 5 main causes was the growing strength of the American
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