ipl-logo

The 1920s Were America's Greatest Economic Times

735 Words3 Pages

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

Show More
Related

1920s Economy Essay

616 Words | 3 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.

Read More

What Caused The New Deal Dbq

749 Words | 3 Pages

The Great Depression was a financial and industrial recession that began in 1929. Two long-term causes of the Depression were the overproduction of crops by farmers, which exhausted the land and spurred a huge decrease in crops’ value, and a large number of people buying on margin in the stock market, forcing banks to lose more money than they could afford. President Herbert Hoover, elected in 1928, believed in rugged individualism, which meant there would be no government handouts, voluntary cooperation, where people help themselves and the government only mediates, and that the economy has cycles and therefore the Depression should not be considered dangerous. These beliefs prolonged the Depression because Hoover did not give aid to citizens nor did he attempt to change the economy. When President Franklin

Read More

Dust Bowl Research Paper

979 Words | 4 Pages

The people were in debt and and just dug themselves a deeper hole “,combined with production of more and more goods and rising personal debt,”(The Great Depressions) and had no way of making money to pay it all back without jobs. This all goes back to the roaring twenties when eh people bought and bought and dint think of the consequences. The biggest problem for the American was the stock market crash “the stock market crashed, triggering the Great Depression, the worst economic collapse in the history of the modern industrial world. ”(The Great Depression) leading them into social mayhem. The people although causing this distress themselves sought out other things to blame while being completely helpless in their

Read More

Economic Prosperity And Social Changes In The 1920's

546 Words | 3 Pages

The "Roaring Twenties" was a period of economic prosperity, social change, and cultural upheaval in the United States that lasted from the end of World War I to the stock market crash of 1929. The decade was marked by significant economic growth, technological advancements, and changes in social norms, making it a unique and exciting time in American history. Economically, the 1920s was a time of great prosperity. The end of World War I led to a boom in industry and commerce, with many businesses expanding and creating new ones. The war also led to a shortage of goods, so there was a high demand for consumer products such as automobiles, radios, and household appliances.

Read More

Herbert Hoover's Legacy

654 Words | 3 Pages

The depression worsened throughout Hoover’s term in office, but he still made efforts in changing America. As an individual, Herbert Hoover was not prepared for a traumatizing event such as depression, therefore he unfortunately became an unpopular figure countrywide. The main conflict was that Hoover was unable to balance the budget of America, which led to the stock market crash, which triggered The Great Depression. After all, Hoover suffered an intense defeat to Franklin D. Roosevelt in the presidential election of 1933. Furthermore, the depression descended and the future America of prosperity was

Read More

1920s America's Ignorance

327 Words | 2 Pages

America during the 1920’s is often described as a time of prosperity and change that allowed the United States to peak. However, what most people overlook is this era was conflict filled in which society was blinded by luxurious lifestyles, entertainment, and social change preventing any solutions to deal with the various issues. It was the people’s ignorance and the problem filled cities that slowly pushed America into the great depression within a decade. After World War I finally came to an end on June 28, 1999 through the Treaty of Versailles, the United States became the most powerful nation in the world since it was the least affected by the war compared to Europe. In fact, American industry and economy boomed, as newly elected President

Read More

New Deal Dbq Essay

564 Words | 3 Pages

The wealth during the 1920s left Americans unprepared for the economic depression they would face in the 1930s. The Great Depression occurred because of overproduction by farmers and factories, consumption of goods decreased, uneven distribution of wealth, and overexpansion of credit. Hoover was president when the depression first began, and he maintained the government’s laissez-faire attitude in the economy. However, after the election of FDR in 1932, his many alphabet soup programs in his first one hundred days in office addressed the nation’s need for change.

Read More

What Caused The Great Depression Dbq Essay

726 Words | 3 Pages

The Great Depression was caused by speculation and installment buying, income maldistribution, and overproduction because each of these factors combined made the economy worse before and after the stock market crash, which led to The Great Depression. Speculation and installment buying helped caused The Great Depression because people were buying so much stuff on credit, when

Read More

The Great Depression Research Paper Outline

502 Words | 3 Pages

The Great Depression The Great Depression was by far one of the worst times of America’s history, and the world’s history. The Depression affected everyone except for the politicians and the wealthy. During the depression a lot of people lost their jobs which caused the unemployment rate to sky rocket to 14% of America’s population was unemployed, and the number would stay their till World War 2, and the depression started in the 1920’s. Middle class workers were hit the hardest in the depression. Most of the middle class citizens lost their jobs.

Read More

What Are The Underlying Causes Of The Great Depression

585 Words | 3 Pages

America had experienced other depressions or “panics,” but none were like the Great Depression. The Great Depression began on October 29, 1929, Black Tuesday, with the stock market crashing. Most people believe that the cause of the Great Depression was the stock market crashing. Although that is what triggered the Great Depression there were many underlying causes that lead up to the stock market crashing. Some of the underlying causes include under-consumption/over-production, uneven distribution of wealth, loose banking and corporate regulations, tariffs policies, and the stock market.

Read More

Why Is President Hoover Responsible For The Great Depression

551 Words | 3 Pages

President Herbert Hoover is often blamed for the great depression for many reasons, he had ideas put into place that were meant to aid the problems in the economy but hurt it instead. Pro-labour policies made by President Hoover after the stock market crash of 1929 caused the majority of the nation's gross domestic product to decline over the next two years. This made what could have been a bad recession turn into the Great Depression. There were many reasons for the Great Depression, but the recession was worse than it would have been because of President Hoover.

Read More

Great Depression Dbq

692 Words | 3 Pages

Over the years, consumer spending and investments decreased. This caused declines in industrial output and raised unemployment as failing companies laid off workers. By 1933, 13 to 15 million Americans were unemployed and half the country’s banks had failed. However, the economy did not fully turn around until after 1939 during World War II. The three main causes of the Great Depression were the stock market crash, overs spending, and the overproduction of goods.

Read More

Relief Camps In The 1930s

775 Words | 4 Pages

With the Stock Market Crash of 1929, Canada fell into a great depression. Economic instability led to a political change in government as Prime Minister R.B. Bennett was elected to provide aid for the people. He created relief camps for the single, homeless, and unemployed men living in cities. These camps had a tremendous effect on Canadian society as they made people realize the significance of public assistance. Prior to the 1930’s, there was little government interference in the economy.

Read More

Thesis Statement: The Great Depression

765 Words | 4 Pages

The Great DepressionTopic: the great depressionQuestion: How did the great depression affect americans?Thesis statement:The great depression affected americans because it destroyed their economy. Millions of families lost theirs savings as many banks collapsed in the 1930’s. The Great Depression was the worst economic drop of all times in the industrial world1. The Great Depression began because of a stock market crash in 1929 and came to end ten years later in 1939, around 15 million americans were unemployed and about half of the American banks failed. It was one of the darkest era in the United States.

Read More

Social And Economic Changes In The 1920s Essay

717 Words | 3 Pages

The 1920s were the first years of the new, modern America, with a growing consumer society and new ideas and rules. America saw many changes throughout this decade, including but not limited to social, economic and political changes. Throughout this time, new values were made with the growth of new forms of entertainment and education. After the Progressive Era, the ideas of political figures changed with a new focus on conservative politics and less labor issues. With the new ability for people to buy other products than basic needs, their money went to new inventions, causing new industries to grow.

Read More

More about The 1920s Were America's Greatest Economic Times

Related Topics

Open Document