The Roaring Twenties And The Great Depression Essay

The Roaring Twenties in America Essay

2893 Words12 Pages

The Roaring Twenties in America

In the first three decades of the twentieth century America became the richest and most powerful country in the world. America had so much money it could lend money to Europe after World War One. The average wage for an American was five times more than the average workers wage in Europe. America's wealth, population and industry boomed. The 1920's are often known as the roaring twenties in this essay I will find out if this is true.

The boom in America had a lot to thank for mass production. Many products were being mass produced quickly and cheaply thanks to the production line which Henry ford started at the start of the 20's this created a massive boom in…show more content…

The car industry benefited a lot of people in the 20's because people could travel to other states so money was made through gas stations, shops and restaurants along side roads, which opened new job opportunities as there was 7 billion gallons of petrol used by cars on the road every year. Hotdog stands and motels also sprang up creating even more jobs. There was one car owned by one in every 4.5 persons so money was also made by tourism from people travelling around America. The car business was only bad for a few people like the workers in the factories who would age prematurely due to the same boring work every day. Public travel operators and workers suffered because fewer people needed to use buses or trains to get around. The car business improved the opportunities for those who could afford a car. As demand for cheep cars increased the cost of production decreased as factories became more mechanised and they're for required a smaller work force. There were no blacks or Jews allowed working in the production lines and there were no trade unions to support the workers. The workers id get paid well ($5 a day) but they had to work long hours, the work was also physically exhausting and they owners of the companies made such a profit they could afford to give the

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Similarities Between the Great Depression and the Great Recession

959 Words4 Pages

The housing crisis in America is a major problem plaguing the United States' economy. Before a solution is formulated, one must consider the history of the market and the causes of the problem. And after a solution is formulated, one must present an idea for prevention of the problem for the future. Many people see similarities between The Great Depression in the late 1920s to the late 1930s. The Great Depression was caused by the Stock Market Crash of 1929. Leading up to the crash was The Roaring Twenties. It was right after World War I. The United States' economy was stimulated by producing things for the war. People seemed to have a lot of money. There were many new technologies and new infrastructure. There was a new concept of…show more content…

There are millions of houses and few people buying houses. The cost of houses plummeted. I suppose there are quite a few similarities between the two. People were buying things on credit or loan they could not pay back. Laws were made both to help and prevent the situation. The housing market is not the only part of the economy that has suffered. Many states had already been suffering from the recession, revenue is even lower because of fewer purchases of houses. The labor market and industry have been suppressed as well. To find a solution, we need to look at what we want to accomplish. We want more commerce within the housing market and fewer illegitimate mortgages. When we go back to the idea of supply and demand, we are faced with two options to increase commerce. We can either have fewer houses, or we can make people want houses more. Since destroying existing houses is foolish, we assume we need to increase demand for houses. To have fewer illegitimate mortgages, banks will have to give loans to people only if they can repay them, and people will have to pay off the loans. There are many ideas floating around about how to jump-start the market. Some people think we should look at the assets to determine what each house is worth. Then we should base mortgages on what each house is worth. Others think mortgages should be restructured to be affordable for the buyer. Still others think banks should merely loan money to

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