(America) Causes of the Economic Boom in the 1920s
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?- Created by: moIIy_
- Created on: 07-03-18 18:26
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- Causes of the Economic Boom in 1920s America
- Government
- Low taxes
- Republican Laissez-faire business policies
- Republican policies allowed trusts and monopolies e.g. Carnegie Steel
- 1922 Fordney-McCumber Tariff made foreign imports 40 percent more expensive
- Increase in use of Hire-Purchase to buy consumer goods
- Society
- Consumer goods
- Ford= biggest single employer in the 1920s. Sold 4m+ cars
- Purchase of stocks and shares (often buying on the margin) by general public
- Increase in use of Hire-Purchase (buy now, pay later) to buy consumer goods
- Advertising
- Mass nationwide advertising had been used for the first time as propaganda during WW1 to encourage Americans to support the war effort. Advertisers now used these skills to sell consumer items.
- Consumer goods
- Government
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