The Economic Boom
- 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
- Economic Policies
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