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Reasons For The Wall Street Crash In 1929 And The Social And Economic Impact It Had On American Society History Research Assignment

1289 words - 6 pages

The Wall Street Crash of 1929 was the greatest stock market crash in the history of the United States.It happened in the New York Stock Exchange on Tuesday October 29, 1929, now known as Black Tuesday.[1] The crash started the Great Depression and stock prices did not reach the same level until late 1954.

WHAT IS CAPITALISM?
Capitalism is an economic system in which capital goods are owned by private individuals or businesses. The production of goods and services is based on supply and demand in the general market 

WHAT WERE THE BOOM YEARS?
It was an extended period of economic prosperity, during which GDP increased continuously for almost ten years. It commenced after the end of the early 1990s recession in March 1991, and ended in March 2001 with the start of the early 2000s recession,

WHO WAS AL CAPONE?
, he was sometimes known by the nickname Scarface, was an American gangster who attained fame during the Prohibition era as the co-founder and boss of the Chicago Outfit. Capone was born in Brooklyn in New York City to Italian immigrants. He was considered a Five Points Gang member who became a bouncer in organized crime premises such as brothels.

HOW DID THE ENTERTAINMENT INDUSTRY GROW DURING THE “ROARING TWENTIES”?
The nineteen twenties were a time of economic progress for most Americans. During the administrations of President Warren Harding and President Calvin Coolidge, many companies grew larger, creating new jobs. Wages for most Americans increased. Many people began to have enough money to buy new kinds of products.
The strong economy also created the right environment for many important changes in the day-to-day social life of Americans. The nineteen twenties are remembered now as an exciting time that historians call the "Roaring Twenties."
The 1920’s were the source of new, popular types of mass entertainment with radios, movies, and sports heroes. In 1919, the first radio station that was commercial started and radios became a huge hit broadcasting news, entertainment, and advertisements. By 1929 ten million houses had radios, there were 800 stations, and sales reached 426 million dollars
The 1920s were an age of dramatic social and political change. For the first time, more Americans lived in cities than on farms. The nation’s total wealth more than doubled between 1920 and 1929, and this economic growth swept many Americans into an affluent but unfamiliar “consumer society.” People from coast to coast bought the same goods (thanks to nationwide advertising and the spread of chain stores), listened to the same music, did the same dances and even used the same slang! Many Americans were uncomfortable with this new, urban, sometimes racy “mass culture”; in fact, for many–even most–people in the United States, the 1920s brought more conflict than celebration. However, for a small handful of young people in the nation’s big cities, the 1920s were roaring indeed.
WHAT WERE SOME OF THE STRENNGTHS AND WEAKNESSES...

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