Roaring Twenties and how they led to the Great Depression
The "Roaring Twenties" represent a positive era in American history sandwiched between two difficult times, World War I and the Great Depression. The "Roaring Twenties" was a period classified by innovation, prosperity, reform, and a thriving economy in America. An explosion of new inventions and technological breakthroughs transformed popular lifestyles. Shorter workweeks and increased wages led to a revolution in communications, transportation and recreation. For the first time in United States history, free time and leisure activities were becoming part of everyday lives. After the signing of the Treaty of Versailles, which officially ended the Great War, the attitude of the American people toward the rest of the world became one of indifference. The American people wanted to distance themselves from Europe and its problems. There was also an atmosphere of reform that was beginning to surround the country (Sullivan, 301). One such reform that had dramatic affects on the western world, was the addition of the 18th amendment to the Constitution. Also, know as the Prohibition Act, the 18th amendment took effect on January 16, 1920 and outlawed the sale or consumption of liquor in the United States. Another reform was the 1
The unequal distribution of wealth in the 1920's existed on many levels. It existed between the rich and middle-class, industry and agriculture in the US, and between the U.S. and Europe. This created many problems. The excessive speculation in the late 1920's kept the stock market artificially high, but eventually led to a larger stock market crash. Soon lower class people began buying on margin, where the idea of "buy now and pay later" became highly popular. Installment plans created an artificial demand for products which people could not ordinarily afford, making stocks appear to rise when they really were not. Eventually when the loans had to be paid back people were out of money and unable pay back the money they owed It put off the day of reckoning, but it made the downfall worse when it came. efited tremendously from the automobile. With the growing number of cars, there was a big demand for paved roads. During the 1920's, Americans spent more than a $1 billion each year on the construction and maintenance of highways. As the business section flourished the agricultural side crumbled. The federal government had encouraged farmers to buy more land, to modernize their methods with the latest technology, and to produce more food. When the US provided Europe with food this plan worked but when the war ended the farmers were left with practically nothing (Magill, 213). Farmers fell into debt; farm prices and food prices tumbled. The economy then rested on the remaining industries. If those two industries, the automotive and radio industries, were to slow decline, so would the entire economy. Eventually people could no longer afford these luxuries because of high debts the industries went under. When this happened, the economy was already in too bad of shape to revive it! This paper recieved a grade of 90%. Its only fault was that it lacked a strong thesis. from our European counterparts, then there was no way for them to buy from the Americans, or even to pay interest on U.S. loans. The weakness of the international economy certainly brought America into the Great Depression (Garraty, 212). In music, songs describing the times were very popular. "Brother Can You Spare a Dime?" was a popular song in the twenties because it represented people's attitudes towards the Stock Market Crash and other events they were living through. The "Roaring Twenties" ushered in an age of technological advancement. They were a turning point in American history. New technology was changing the way that Americans lived, it was making life easier, and allowing more time to be spent doing other activities (Garraty, 34). The invention of the automobile had many benefits. The automotive industry created hundreds of jobs for lower class citizens and provided a faster means of transportation for the wealthy. It also gave the economy the boost it needed to provide America with the age of prosperity that the 1920s are known for. The invention of the radio had similar affects on the American culture and economy as the automobile did. The radio tied the nation together and led the way into a communications revolution. The radio also benefited big business becau
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Approximate Word count = 2138
Approximate Pages = 9 (250 words per page double spaced)
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