Economic Developments : The Roaring Twenties

Rarely has the world seen such a unique decade in time as the Roaring Twenties. It was an age of prosperity and change. The United States experienced a recession that was followed by a period of unlimited prosperity. Although the United States encountered both positive and negative experiences, it proved to be very influential in the future. The 1920's were definitely "Roaring" in more ways than one. There were major changes in American Society during the 1920's that took place. Many new industries emerged during this decade that influenced society and the American way of life. Even the federal government had different feelings about the business industry. The characteristics of this decade made the 1920's

The 1920s was nicknamed the “Roaring Twenties” because every action had a voice. Every event or amendment was supported by some type of individual or group. Certain individuals made opportunity for American citizens, such as Henry Ford. Because of business leaders like him, Americans once confined to their city of work, can now live miles away. This era was full of trial and error. Trial and error can be supported by the fact that a new amendment repealed a past amendment. America was shaped politically by Congress, stereotypes, and mass production. The 1920s wouldn’t be the same without the leading automobile industry, “New Women”, and the Eighteenth Amendment.

The Roaring Twenties is known as an age of parties, jazz, and overspending. After World War I, the optimistic American people reacted by celebrating and overspending. They purchased new appliances such as cars, radios and refrigerators; they purchased luxury items like clothes and invested in stocks. Their new attitude towards the booming American economy was carefree, leading to a series of events. First the stock market crashed. Next, the banks failed. Then, companies laid off employees who were unable to make the payments on the items they purchased. Tariffs and droughts further complicated the situation. This decade became known as the Great Depression, because the economic setbacks impacted everyone and everything. But the question is “Why did Americans lose so much money in such a short period of time?” One answer is, the failing stock market. A second is unregulated banking systems which allowed for buying on margin. Third, the lifestyle following World War I was too materialistic. The Great Depression was caused by Americans failing to responsibly manage their money.

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

The 1920’s better known as the roaring twenties was a period of dramatic social, and political change. Throughout history the roaring twenties was the first time most Americans lived in cities than farms. After the years of World War I this was a period where America and the public wanted to separate themselves from other parts of the world, foreign countries .

The 1920s, or better known as the roaring twenties changed the lives of women in America politically, physically and mentally. Women were granted more freedom, the right to vote, changed their physical appearance, and focused on materialistic goals instead of moral values. Before World War I, women would wear a high collar, long straight skirts below the knee and long hair that was tied loosely. The roaring twenties brought along swing dancing and jazz which changed the way women dressed and danced. Not only did the roaring twenties bring along flourishing taste in music, but flappers came into play. Flappers were women who wore short sparkly dresses, cut their hair into a bob, wore heavy make-up, drank alcohol, smoked cigarettes and partied all night.

The roaring ‘20s was an age of very many economic changes throughout America creating more jobs and more opportunities for the people. A huge economic change was that more American families

The Roaring Twenties were a time of wild enjoyment, loud music and booming economy. In 1920, for the first time in American history, more

The Roaring Twenties were a dramatic change for the United States. The country had seen a rise in its economic status by doubling its wealth between 1920 – 1929 but also the American culture changed (Roaring Twenties). Because of reparations being paid to the United States from World War I, the country was seeing a rise in consumerism. With the economic growth there was also an exponential rise in the stock market (The Great Depression). People finally had money to move from suburban areas and live in big cities (Roaring Twenties). The turn of the twentieth century saw a rise in mass production, which allowed luxury items like automobiles to become a readily available good for consumers. The Roaring Twenties saw people adopt new practices

The era of the 1920s, also known as the Roaring 20’s, was a revolutionary time in which radical changes struck the American nation, drastically increasing advances in society and economy. New and different forms of dance, music, clothing, behavior, and lifestyle were developed nationwide. The Antebellum Period in the late 1700s increased rebellion, similar to the Roaring 20’s era of growth and reform. As this time period brought profound changes, conflict, cultural excitement, and experimentation, the population of America was experiencing an alteration in social values. The American pride, similar to the pride we had when separating from the British, was still alive as independence and freedom was strongly rebelled for. The Roaring 20’s depicted the growing independence of the American public as the promised result of cultural excitement with the usage of alcohol, experimentation with labor strikes, conflict over ones rights, and change in the prosperity of the nation, was much linked to and differed from the Temperance movement, Labor movement, Suffrage movement, and the Industrial Revolution.

The 1920s are often referred to as “The Roaring 1920s” because it was a decade of prosperity. Although they were living on false notions, they were living among wild bootleggers and gangsters, flappers, hot jazz, marathon dancers, and in a decade of dissipation. These were modern times and during so many social and economic changes they were able to have more time for leisure and travel (Digital History: The 1920s – An Overview). Some of the major events of the decade that helped give the 1920s this nickname was the rise of inventions such as washing machines, vacuum cleaners, and toasters, mass entertainment, and half of Americans owning automobiles (John Green Video). There was also a change in the “revolution in morals and manners” that played a big part of how culture was perceived (Digital History: The 1920s – An Overview).

The 1920’s, for the most part, was a period of economic prosperity and growth. This period of economic prosperity was known as “The Roaring Twenties” due to the unprecedented economic boom in the U.S economy. Production increased and things such as electricity, cars, radio and telephone was produced for the masses. Infrastructure was built in order to keep up with the advancements in these new technologies. As infrastructure increased, many citizens moved into the cities and towns in order to acquire jobs in these industries.

The Roaring Twenties had come about from the wealth that people had and the influence of all the modern creations, including jazz music, new dance crazes, movies, cars, new technologies and mass production. Some Americans found the Roaring Twenties to be a time of prosperity, confidence and fun; but for much of the population around the world it was anything but this. These people suffered poverty and discrimination and eventually the few that were having the time of their life ended up in poverty as well. In the mid-1920s problems started to develop in the world economy, and when the New York Stock Exchange collapsed in October 1929 things started to go downhill. As prices continued to fall, panicking investors sold all of their shares.

The first reason “The Roaring Twenties” became a title for the 1920s is because of the progression in politics. Just coming out of World War I the United States needed to be turned around. In the early parts of the 1920s the United States was going through a process called demobilization, which is “The process… or transition from wartime to peacetime production level and employment levels”. When 4.5 million men coming back from war and seeking employment and putting the recently employed women back out of work and with the start of numerous riots, America was in desperate need of a president who could lead them out of the turmoil. In the election of 1920, Warren G. Harding was elected president. “Harding ran a pro-business platform that promised tax revision, higher tariffs, limits on immigration, and some aid to farmers.” Harding also promised that America would return to normal during his presidency which captured the attention of the distraught Americans. Harding did many great things for America such as merging companies which brought “greater efficiency and high profits” to businesses. Towards the end of Harding’s presidency

The Roaring Twenties was a time of prosperity in the United States. Rural Americans migrated to the cities with the hope of finding a more lucrative life. While the American cities prospered, the overproduction of agricultural crops created extensive financial disheartenment   among American farmers. The American economy showed threatening signs of unrest. For example, steel production declined, automobile sales diminished, and consumers were increasing their debts because of buying on margin. Despite all of these negative impacts, the stock market continued to rise until the economy had reached the boom phase. This is when there is zero unemployment, full production, and prices increase. Since the boom phase is the highest point of the business cycle, in order to make a stable economy, there has to be a decline or depression (DOC A). In the 1930s, the United States suffered from the greatest economic depression in its history. Millions of people, men and women, were out of work or afraid they soon would be. This rapid change is known as The Great Depression. Financial irresponsibility led to the greatly unequal distribution of wealth, buying on credit, and the United States tariff system, each contributors to what is known as The Great Depression.