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The Reasons Behind The 1920's Boom

1761 words - 7 pages

The Reasons Behind the 1920's Boom

Introduction: This essay will mainly examine the main reasons for the
boom of America in the 1920s. Boom can be referred to as the increase
in economy, industry, population and different other factors. Moving
out of the poor lands of Europe and Asia, there was a place found at
last where one could find Happiness or more precisely MONEY. This
glorious land was the 'richest country in the world'- America!

"European luxuries were are often necessities in America. One could
feed a whole country in the Old world with what America wastes. To the
Americans, Europe is a land of paupers, and Asia a continent of
starving wretches"

America was also eligible to be known as 'The country of Luxuries',
'the land of emigrants', 'the land of prosperity', 'the land of hope',
etc. Their way of living was luxurious; almost all people from working
class to high-class rich people enjoyed quite a luxurious life. This
high economical and social developments in referred to as an "economic
boom". The basic key-factors that contributed to this economic boom
are as follows:

- Resources

- Impact of First World War,

- Technological changes,

- Mass-production,

- Mass-marketing,

- Mass-consuming,

- Credit,

- Confidence and

- The policies of the republican presidents.

The following paragraphs would suggest why and to what extent these
factors altered and improved the American economy.

Impact of First World War:America had emerged from World War I with a
strong economy. America itself had not been attacked and had not
joined the war until 1917. Even though USA drew out of its policy of
isolationism towards the end of the First World War, it emerged
extremely well from the war. It did not have to rebuild itself as the
European nations did.Despite few social problems, America's economy
developed rapidly after the war. In other words, the First World War
helped US in many ways some of which are:

-Since Europe had to rebuild itself from the massive devastation, the
European population decided to leave for America. America's population
increased drastically. An increase in population meant there was more
number of hands to work. This also meant that there were more mouths
to feed. Nevertheless, the fact that two hands and only one mouth
proved to help America. There was enough money from trade as well as
internal mass production.

-One-way trade with Europe through out the war helped prosperity and
money pour into America. This money for more than enough for food, raw
materials and armaments too. High economy meant high production, high
production meant high marketing, and high marketing gradually meant an
increase in the economy. Hence, the world war one had an important
impact on the boom of 1920s.

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