Roaring Twenties and how they led to the Great Depression
The "Roaring Twenties" represent a positive era in American history sandwiched between two difficult times, World War I and the Great Depression. The "Roaring Twenties" was a period classified by innovation, prosperity, reform, and a thriving economy in America. An explosion of new inventions and technological breakthroughs transformed popular lifestyles. Shorter workweeks and increased wages led to a revolution in communications, transportation and recreation. For the first time in United States history, free time and leisure activities were becoming part of everyday lives. After the signing of the Treaty of Versailles, which officially ended the Great War, the attitude of the American people toward the rest of the world became one of indifference. The American people wanted to distance themselves from Europe and its problems. There was also an atmosphere of reform that was beginning to surround the country (Sullivan, 301). One such reform that had dramatic affects on the western world, was the addition of the 18th amendment to the Constitution. Also, know as the Prohibition Act, the 18th amendment took effect on January 16, 1920 and outlawed the sale or consumption of liquor in the United States. Another reform was the 1
It would take time and money to recuperate. Henry Ford, the automotive industry leader, is an essential factor causing the unequal distribution of wealth between the rich and the middle-class. ------------------------------------------------------------------------**Bibliography**This paper recieved a grade of 90%. 3 billion in 1923 to $89 billion in 1929 (Magill, 98). The federal government also contributed to the growing gap between the rich and middle-classes. The problems of the "Roaring Twenties" were having disastrous effects. The weakness of the international economy certainly brought America into the Great Depression (Garraty, 212). Every other foreign nation had dug itself into a deep hole after World War I. This massive uneven distribution of wealth between the rich and the middle class grew throughout the "Roaring Twenties" into an even bigger problem. New technology was changing the way that Americans lived, it was making life easier, and allowing more time to be spent doing other activities (Garraty, 34). Production costs fell quickly, wages rose slowly, and when the prices remained constant, the corporate business owners saw all of the profits. In 1929 a mere 200 corporations controlled approximately half of all corporate wealth. It also gave the economy the boost it needed to provide America with the age of prosperity that the 1920s are known for. The arrival of the radio and automobile would have even greater affects on the economy as the years go by.
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