The 1920s Were America's Greatest Economic Times

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It is often argued that the 1920’s were America’s greatest economic times. Technology was ever advancing, leading to faster and better productivity rates. The rate of employment was also through the roof, which was great for everyone. The United States was becoming a great world power and it was well known across every country and especially in the global market. Little did anyone know, everything they did was gradually setting the country up for economic demise. Factories were producing more than people could purchase, therefore losing many materials and money. Plus the government was giving out loans that people couldn’t pay back, which gradually brought debt throughout the country. Political wrong-doings, unhealthily high productivity rates, unequal distribution of America’s assets; these were all things that seemed good at the time, but proved to be more bad than good as it led America into its darkest time: The great Depression. At the time of The Great Depression, the US president was Herbert Hoover. He wanted to fix America and its economy, but ended up not helping at all. In fact, he ended up making things worse and brought America deeper into its depression. During the roaring twenties, the government was doing what it could to improve its economic state. One popular method was…show more content…
The government tried to fix this problem with things like credit and loans. Credit was more or less a loan: When you pay with credit, you’re using the government’s money and agree to pay it back at a later time (sometimes with interest and/or fees). The thing about loans is, you need to pay them back; and the people getting the loans can’t do that. Since then, the loan system has changed greatly to prevent this, but at the time, it led to a stock system of which was built with money that didn’t exist. Eventually, this led the entire stock system to crash, and thus the depression was

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