ipl-logo

1920s Economy Essay

616 Words3 Pages

America began to prosper in the 1920’s because of industrial production being up, wages were rising, and the unemployment rates were low. After World War I America was the world’s leading economic power, because of all the technological changes happening in the industrial companies.

Technological changes were happening in many industries, for example Henry Ford began to make his cars on an assembly line, which enabled him to sale more cars and cheaper products. America also had a lot of natural resources, oil being one of them, which is essential in cars. Oil was also very abundant so it sold for cheap prices. Henry Ford was very important in the economic boom also because he brought new methods in other industries.

Credit …show more content…

The Republican party also contributed to the economic growth. They lowered taxes and made tariffs higher.Lower taxes allowed people to have more money in their pockets to spend on other things in the future.The increasing price of tariffs caused more citizens to buy more American goods therefore also benefitting the Economy. The 1920’s was considered to be a time the government just let things operate as they pleased. Many believe that the mind set they had let to the growth …show more content…

In World War I we provided for the Europeans after the war because they needed food because their sources were scarce. We began to benefit from that because of the food production.We also provided them with weapons which later benefitted us. They needed is and their need of us later made us richer, because we provided the, with all their needs.

I agree that without the new automobile industry, the prosperity would scarcely be possible because it allowed changes in other industries that lead to the boom. Henry Ford’s assembly line influenced other industries to try new methods that lead to mass production. The more products they were able to produce the better income they began to have. Then other industries would find methods that helped with the production of their product. I strongly that without having that happen it wouldn 't have happened as it did.

The overall result is the automobile industry was the lighter fluid to the fire that caused the economic boom. The boom lead America that would be beneficial for a life time. In my opinion Henry Ford is the father of the economic boom. Although not all were able to benefit from it, America may not be the same if it never

Show More
Related

  • Industrial Growth Dbq Essay

    490 Words  | 2 Pages

    This is good because goods like iron,steel, and railroads were needed to rebuild the nation. Also new cities were being made and had a high demand for the very same goods. When Abraham Lincoln became president, he and congress were unopposed in the making of new bills that would allow America to emerge from the war with great economic potential. One such initiative that Lincoln supported was the Pacific railway act, which made it so that there would be a transcontinental railroad linking the east and the west. This means that thousands of factories and laborers will get jobs helping produce this

    Read More

  • 1920s Compared To The 1930s

    406 Words  | 2 Pages

    The 1920s compared to the 1930s were drastically different in many ways. The 1920s were a time of great economic growth and many cultural movements. However, the 1930s were close to the exact opposite, the downfall of the previous growth. The United States experienced rapid growth throughout the 1920s in many different ways. During the 1920s there was an influx of mass production and commercial industries, such as the automobile, radio, cinemas, and many other advanced technologies.

    Read More

  • New Deal Dbq

    1958 Words  | 8 Pages

    As a result of the New Deal, unemployment and poverty levels lowered alongside the economic difficulties of the American people. During the New Deal era, the legislation raised government spending and regulation to new heights strengthening the government's control over the economy. One can only imagine how the economic state of the U.S. would have been if not for the fierce opposition and disregard for the real issues at hand led by the Republican Party. Change could have came at a quicker pace but sometimes the best things for the country will always be the hardest to achieve. Regardless of what happened, progress was advanced and prosperity was beginning to impact the U.S. citizens on a greater scale.

    Read More

  • Scopes Trial In The 1920s

    823 Words  | 4 Pages

    During the 1920s, there was a lot of change going on in the country. The automobile industry, the airplane industry, newer modern corporations and management styles, and newer machinery all boosted the economy, and electricity was used. Cities grew as new jobs became available. The 20s saw presidents Warren Harding and all his scandals, Calvin Coolidge, and Herbert Hoover. In the 20s, we were boosting from the economy, and making our market global.

    Read More

  • Industrialization Dbq Essay

    764 Words  | 4 Pages

    Although many historians believe that there was a negative impact of industrialization and technological changes on American society; however, the positive impact of the two factors overpowers the negative impact on American society economically and socially between the time period of 1900 to 1930. Economically, there were positive impacts on American society due to the industrialization and technological changes that the nation was undergoing. In Theodore Roosevelt’s “The New Nationalism” 1910, he points out that no man in American society can be a good citizen because of the wage he makes that isn't ample enough to cover the bare cost of living, and the hours of labor are too long which doesn't give him energy and time to bear his share

    Read More

  • Economy Of The 1920s

    714 Words  | 3 Pages

    The 1920s in America was a decade of great contrasts. It was a time of unprecedented cultural growth and advancement, but it was also marked by growing social unrest. Many Americans were looking forward to a new and exciting future, while just as many were longing for a return to the past. This essay will argue that the 1920s was an era defined by both economic and cultural prosperity and advancement. The prosperity of the 1920s was a period of economic growth, technological innovation, and cultural advancements.

    Read More

  • The Canadian Economy During The 1920's

    305 Words  | 2 Pages

    During the 1920’s Canada’s economy prospered, since many countries recovering from the horrors and especially damages of the war, required Canadian products. Canada’s abundance in resources such as pulp, forestry, wheat and mining greatly contributed to Europe’s recovery as well as the Canadian economy. Throughout this decade, many products and resources became more available such as cars due to mass production techniques developed to meet the product demand. For instance, the vehicle ownership rate in Canada increased from 300 000 in 1918 to 1.9 million by 1929.

    Read More

  • The Causes Of The Stock Market Crash Of 1929

    1660 Words  | 7 Pages

    The false prosperity made the stock market crash, and the Great Depression more

    Read More

  • How Did Henry Ford Build A Free Enterprise System

    1043 Words  | 5 Pages

    Ford changed the price of his Model T's from 850 dollars to 600 dollars. Soon Ford's sales went from 18,000 to a astonishing 168,000 cars being sold. Something you probably couldnt do anywhere else where the free enterprise system wasn't mainstream. Ford was able to revolutionize the auto industry and with many choices from himself whether it be to hire this many people or buy this many parts for his

    Read More

  • Essay On Greed In The 1920s

    1387 Words  | 6 Pages

    Men increased their wealth and alcohol consumption. It was a period of change. Alcohol was the 'fun' in the 1920s, it spread throughout households as a necessity to have. The need to possess and manufacture alcohol had a powerful impact on society. Due to this extreme distribution, intoxicated individuals had violent outbreaks and increased criminal activity which caused American prisons to accumulate.

    Read More

  • 1920's Advances In Technology

    1142 Words  | 5 Pages

    Unemployment levels decreased, and trade gained speed with the help of the truck industry("Back in the Roaring ‘20s,2). The last important advancement in transportation that benefitted the United States was the development

    Read More

  • Why Is Advertising Important In The 1920s

    1437 Words  | 6 Pages

    1920s Advertising During the 1920s, advertisement started to increase and expand. Many ideas and tactics were used to lure the attention of the consumers. After World War I, America started to grow with a stable and growing economy. This flourishment made many American's live out the 1920s in prosperity.

    Read More

  • Causes Of The Great Depression Dbq

    880 Words  | 4 Pages

    Roosevelt and his involvement greatly improved industry and the economy and would

    Read More

  • How Did The Gilded Age Change The Economy

    878 Words  | 4 Pages

    Late 19th century, the United States became the leading industrial nation in the world which transformed the national economy of the nation during the period called Gilded Age. The most influential development of this era were the new inventions of the inventors, who invented new ideas and new products which led to a rise of big business. The inventors mostly controlled the nationwide industries, factories and had much control over the government and people who owned small business. Because of these new inventions the American life was changed and there was a drastic growth in the urban areas, there were significant changes in the transportation, agriculture, communication, and there was a demand in the labor union because of the newly built factories and industries. The life of this era was seemed to be constantly in motion as big businesses were rising and the life of every American got busier and busier because of the newly invented products.

    Read More

  • Advertising In The Gilded Age

    498 Words  | 2 Pages

    Modern day America is an economic superpower. However, one and a half centuries ago, this was not the case. In the late 1800’s there was a large boom in terms of population and industrialization in the United States. From this stemmed many new technological innovations, innovations which could be applied to the creation of alluring products for the masses. This led to the rise of a prominent American consumer culture, which was a driving force in the great economic growth of the Gilded Age.

    Read More

More about 1920s Economy Essay

Open Document