The Roaring Twenties

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Surbjit Singh 10SK

Coursework Unit 1 The USA – Boom, Bust and Recovery

During the 1920’s, the USA experienced an economic boom. During this time the USA where recovering from World War 1. 1920-1929 was considered as the ‘’roaring 20’s’’ due to the fact that the economy boom started at around 1920 and it crashed in October in 1929, more known as the Wall Street Crash. The USA had an economic boom due to various factors such as, industrial strength, World War 1 and Republican Policies where just some of the main factors that the boom was based upon.  Although Industrial Strength was a big factor in the boom, not all industries prospered due to competition from other industries. The ‘’roaring twenties’’ provided alot of income to mainly middle classes- (for example, people who owned businesses), but not everyone shared in the prosperity, farmers were one of the groups of people who didn’t prosper during the economy boom. Finally a large group of American Society also didn’t share in the prosperity of the ‘’roaring 20’s’’.

The USA was a large country with a growing population, and was also rich in natural resources. This meant that it didn’t need to import many raw materials and it didn’t also need to export any of its goods due to the fact that the home market was large and growing. Ever since the 1860’s and 1870’s, the American Industry had been growing quickly. By the time the First World War came about, USA led the world in most areas of industry. It had large steel, coal and textile industries. It was leading in the biggest oil producer. The USA was also developing new technology quickly and providing it in its masses such as motor cars, telephones and electrical lighting. Its newer industries such as chemicals where growing fast. Its new film industry already led the world. The managers of these industries were increasingly skilled and professional and they were selling more and more of their products, not just in the USA but in Europe, Latin America and in the Far East. America’s agriculture became efficient and productive in the world. In fact, farmers had become so successful that they were producing more than they could sell, this was a major problem known as over-producing. But most Americans at the time where happy about its industry and the way it was working.

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The First World War provided many advantages for the USA. Although they tried to stay out of the First World War, they lent money to the allies and sold arms and munitions to Britain and France throughout. They sold massive amounts of foodstuffs in Europe. This one-way trade gave American industry a real boost. It was given an even bigger boost due to the fact that whilst the European powers slugged it out in France, the Americans were able to take over Europe’s trade around the world. American exports to the areas controlled by European colonial powers increasing during the ...

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