The Economic Boom

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  • Created by: Lily
  • Created on: 08-05-13 19:17
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  • Reasons for the Economic Boom
    • Economic Policies
      • Reduction of taxation to a maximum of 25%
      • 1921 Budget & Accounting Act to established a Bureau of the Budget
        • Reduced the cost of the Government
      • Fordney-McCumber Tariff - taxes on a range of industrial & agricultural &food imports
        • "protectionism"
        • ACTUALLY - made it more difficult to seel abroad and id not increase agricultural prices
      • "laissez faire" - Government had little interfernce
      • Favoured managment over unions/workers
        • yellow dog contracts
      • Reduction in the role of the Federal Trade/Interstate Commerce Comissions
    • New Technology
      • Radio & Cinema increased Advertising
      • Mass production
      • Transport developments made trade easier
      • Cosumer goods
        • Easy credit!!!
      • Electricity
    • The Motor Car
      • Used assembly lines
      • Cheap produce (everyone could afford)
      • Doubled his workers wages
      • Reduced the need for skilled labour
        • Raised employment
      • Reduced need for horses etc
      • Developed transport
      • Pullution
      • Increased need for steel/rubber/glass industry
      • Increased need for service industry e.g fuel stations
      • Increased building work on roads
    • THE LOSERS
      • Workers in older industries
      • Women
      • Unskilled
      • Native/African Americans
      • Farmers
        • Fall in demand
        • Replaced by modern technology
          • e.g less horses meant less demand for food
        • Limited governmental impact
          • industry > agriculture
        • overproduction

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