Economic Factors Affecting The Economy In The 1920's

During the 1920s, the United States witnessed substantial changes in society and government that challenged conventions. Many Americans, however, also tried to lessen the effects of these changes through emphasizing the importance of customs and long held beliefs. This era consisted of conflicting progressive and traditional ideas, which influenced American government at the time.

The 1920’s are commonly referred to as the Roaring Twenties. Many factors during the time played significant roles in earning the decade this name. Economic conditions and developments in the arts and entertainment were some of the most impacting among these factors. Economic conditions and developments in the arts and entertainment helped create the reputation of the 1920’s as the Roaring Twenties. Economic conditions gave people a feeling of economic prosperity. They also allowed people to buy a lot of things on credit. Developments in the arts and entertainment created a culture of free expression by granting women the ability to express their opinions more clearly than they were able to in years prior and encouraging jazz and dancing.

The 1920s was known for its prosperous and flamboyant lifestyle. The GDP during that time had risen by 30 percent and unemployment was as at an all-time low of 3 percent. This was not meant to last forever. In fact, it was nearly impossible for this to last any longer than it did due to an imbalance that society was unaware of including that not every citizen was experiencing this uncommon wealth. There were still 3 percent unemployed and even some of the employed members of society did not make enough to support a family and were considered homeless. It was in October of 1929 when this so-called luxurious lifestyle vanished as the stock market crashed at a time when the stock market seemed it would never stop increasing. This caused an economic, downhill, rolling ball effect. Those who took out loans to invest in stocks could not afford to repay the banks causing the banks to fail and close down. When the banks closed down, the depositors of that bank lost their life savings causing them to go broke and some company owners to close their doors. This led to a loss of jobs by the employers of those companies. This time period was known as the Great Depression and rightfully so. It is the most significant setback in the American Economy to date. The Herbert Hoover administration was in effect at this time giving the society an easy target to blame. Come time for the next election in 1932, Americans were ready for a change in authority to bring them out of this seemingly black

Following World War I, Americans were left with scarce amounts of job openings and a poor economy. Several were left fearing the communists, who the Americans believed were going to overthrow the government. This caused Americans to resent those who were not accepting to return to the “traditional” American values. With the 1920’s, there came both a rise in conservatism and liberalism, but only one was revolutionary, described by Merriam-Webster.com as,”Constituting or bringing about a major or fundamental change.” Furthermore, different presidents advocated for different political stances. Republican Presidents, Warren Harding and Calvin Coolidge, advocated America to have a conservative government and return to normalcy, while Republican

The agricultural depression in America during the 1920’s can be said to be one of the contributing factors to The Great Depression or even a preface to it. In fact, during this time, farmers were already living in fear of bankruptcy and trying to make ends meet in a rapidly declining agricultural market. Though what factors contributed to this depression before the depression? The First World War, certain protective tariffs, and a steadily declining foreign market are just a few of the factors that helped define the depression during this time period, and in turn, drastically affected a very large amount of the United States work force.

I clearly remember the disaster Hurricane Katrina brought to the Gulf of Mexico in 2005. Several states, counties, and citizens were affected by the storm, specifically the city of New Orleans, Louisiana. I remember seeing up washed caskets floating through the city and residents sitting on their roofs waiting to be rescued. Worst of all, I clearly remember the thousands of homes that were destroyed, practically leaving the entire city homeless. As a young, prospective scientist when this disaster occurred, I remembered learning that hurricanes were referred to as natural disasters and could not be controlled nor prevented. It wasn’t until a college class studying environmental policy did I gain knowledge that the disaster at New Orleans was

The 1920s was a time of dramatic change that swept quickly over the nation. This was a decade in which there was extreme economic growth along with a rise in consumer spending and a scared political atmosphere. During 1919 there was a drastic shift in fear from Germany to a fear of Communism which culminated in the Red Scare of 1919. This was a continuation of Woodrow Wilsons wartime campaign against anti-American movements, most frequently anarchists and communists. During World War I congress passed two sets of legislation that supported this: The Espionage Act and the Sedition act. The Espionage Act of 1917 was aimed at promoting patriotism and stopping people from speaking out against the U.S. involvement, while The Sedition Act amended the Espionage to more broadly cover speech, restricting Freedom of Speech. These laws were frequently used to imprison members of the IWW (Industrial Workers of the World), most notably Eugene V. Debbs. Another source of the Red Scare was the Russian Revolution, which transformed Russia into a communist state. The revolution scared Americans into believing one would happen in the U.S. These events start the 20s off at a bad time economically with high unemployment, socially with an anti-immigration stance and politically with the persecution of Anti-American opinions.

By the 1920s, the United States of America was the most economically powerful country. Their industries were very successful and they had a huge amount of resources. The USA had taken part in the First World War, but only took part late. Therefore, suffered relatively little. In fact, their industries benefitted because there was a great demand for war materials. In the 1920s the US flourished more than ever before, mainly because of mass-production techniques such as those used to make Ford automobiles cheap enough for plenty of people to buy.

Politics and Economics of 1920’s “Competition is not only the basis of protection to the consumer, but is the incentive to progress.” This quote by Herbert Hoover, the first US president of the 1920’s, demonstrates his belief that competition among businesses would lead to progress. Businesses began to absorb smaller industries and dominate the cities and towns (“1920’s America: Economy, Politics, and Culture”). As businesses began to expand, so did the people’s thoughts and opinions.

Many people believed that the 1920’s were a great time to live in. Lots of people were making plenty of money and the economy seemed to be thriving. But that’s not really how it happened. The 1920’s actually had one of the worst economic times in the United States. There is a lot of evidence that shows that the economy wasn’t as healthy as some people believed it to be.

The U.S. has had its ups and its downs over the past few centuries. One great point in our

Within the 1920’s there was a vast expansion of several businesses. At the time, several new industries had begun to expand including several with ties to technology. Food processing and household appliances were among several types of businesses that began to mass produce due to the precedent Henry Ford had set forth, this being the idea of a moving assembly line. Additionally, automobiles was a large “backbone” for the massive economic growth America was experiencing at the time. In fact, many factories began to produce automobiles rather that the original textiles. Overseas investment was also very popular within America, allowing the United States dollar to surpass it’s British “pound” counterpart. Along with this large uprising of businesses, in America, came the overall evolution of technology. Typical American houses were completely transformed, allowing the dissolution of domestic servants. Furthermore, the large boost in technology basically created what we know now as everyday Hollywood.

The economy is starting to decline because of recent event that came before it. This year alone within a short amount of time; the U.S and surrounding areas have been effected by natural disasters. Two hurricanes started in the North Atlantic area and have came to the borders of the United States. Hurricane Harvey formed August 25th and ended on the borders of Texas and Louisiana on September 2nd. Hurricane Harvey was the first storm to affect the U.S. Hurricane Irma was the second to formed on August 30th, ending on the borders of Florida on September 12th. People in theses areas were early on to evacuate their homes and cities before the hurricanes came in. In recent study our economy is at a decline because of the hurricanes. Between Irma

After World War One the people of America enjoyed great economic times. The city folk enjoyed many liberties that after the war had to offer. The farmers and country folk were the ones that endured the challenges and hardships. 'During the roaring 1920s, inventions like home refrigeration and penicillin sent America into the modern age. The nation’s total wealth more than doubled between 1920 and 1929, and this economic growth swept many Americans into an affluent but unfamiliar “consumer society."

We will now look at the economy of the 1920 with specific reference to United Sates