History Essay
What were the most influential social and economic developments of the 1920s, and why? Considering major trends in US society at the time, explain what 1920s cultures are reacting to (or against). Did the cultures of the 1920s succeed in helping people cope with change? Why or why not?
Economic changes 1. US was in the midst of a production boom in the 1920s a. The amount of goods increased sharply by 64% over the decade. b. Productivity increased by 40%-- people became more efficient c. More consumer goods began appearing on shelve 2. Technology d. Machines began replacing 200,000 workers each year . e. But, rising demand for new consumer goods kept the labor force growing at a faster rate than population. And, pay improved. f. More consumer goods appeared on store shelves- cigarette lighters, wrist watches, radios, etc. As production of consumer goods grew, improvements in productivity helped keep prices down. g. Americans enjoyed the highest standard of living any people had ever known. h. Yet, for all the prosperity, a dangerous imbalance was developing in the economy. Most Americans saved little in the mistaken belief that prosperity was here to stay. As a result, personal debt was rising two and a half times faster than personal income, an unhealthy sign of consumers scrambling to spend. 3. The Booming Construction Industry i. Along w/ technology and consumer spending new “boom industries” promoted economic growth. Construction soared. j. New York got a new skyline of tall towers, topped in 1931 when the Empire State Building rose to the world record height of 86 stories. k. Residential construction doubled as people moved from cities to suburbs. Road construction pumped millions of dollars into the economy. l. Construction also stimulated other businesses: steel, concrete, lumber, home mortgages and insurance. 4. The Automobile m. No industry
Economic changes 1. US was in the midst of a production boom in the 1920s a. The amount of goods increased sharply by 64% over the decade. b. Productivity increased by 40%-- people became more efficient c. More consumer goods began appearing on shelve 2. Technology d. Machines began replacing 200,000 workers each year . e. But, rising demand for new consumer goods kept the labor force growing at a faster rate than population. And, pay improved. f. More consumer goods appeared on store shelves- cigarette lighters, wrist watches, radios, etc. As production of consumer goods grew, improvements in productivity helped keep prices down. g. Americans enjoyed the highest standard of living any people had ever known. h. Yet, for all the prosperity, a dangerous imbalance was developing in the economy. Most Americans saved little in the mistaken belief that prosperity was here to stay. As a result, personal debt was rising two and a half times faster than personal income, an unhealthy sign of consumers scrambling to spend. 3. The Booming Construction Industry i. Along w/ technology and consumer spending new “boom industries” promoted economic growth. Construction soared. j. New York got a new skyline of tall towers, topped in 1931 when the Empire State Building rose to the world record height of 86 stories. k. Residential construction doubled as people moved from cities to suburbs. Road construction pumped millions of dollars into the economy. l. Construction also stimulated other businesses: steel, concrete, lumber, home mortgages and insurance. 4. The Automobile m. No industry