How Did The Roaring Twenties Affect The Economy

The Roaring Twenties and its Oscillating Economy Considered by most as one of the greatest eras in American history, the Roaring Twenties (1920-1929), was a period of sustained economic prosperity. Post World War I, the development of a war economy to an industrialized led to great economic expansion, as well as a shift in American culture. America’s economy during the 1920’s revolutionized business as well as technological development, and ultimately led to the great Stock Market Crash of 1929. Business innovation was one of the leading causes of the 1920 economic boom. During this time, chain stores began to develop. One of the first chain stores, JCP Penny, is still around today. With chain stores and millennial malls coming to life, this would forever reform how people interact with businesses. In order to help people purchase new goods, a new system of “credit” was popularized (“Digital History”). A person could buy a product that they wouldn’t be
Electricity developed slowly before the war but during the 1920s the electricity industry experienced a huge boom. By 1929 the majority of houses in America had electricity and 70 per cent of them used it for lighting purpose. As more and more of America's homes received electricity, new appliances followed: refrigerators, washing machines, vacuum cleaners, and toasters quickly took hold. Advertisers claimed that "labor saving" appliances would ease the sheer physical drudgery of housework(BBC Bitesize). Due to people no longer depending on the sun, electricity brought longer work hours to jobs everywhere. Longer work hours meant more money earned, and more money to spend - which stimulated the economy. As an outcome of factories’ ability to produce consumer goods for the American people, the demand for electricity doubled. Electrical power was used in factories to drive machinery, idealizing mass