Why did America experience an economic boom?
- Created by: meganadele
- Created on: 25-07-16 18:32
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- Why did America experience an economic boom?
- Isolation and WW1
- America did not involve itself with WW1 until 1917 so unlike Europe did not lose money to the war but made it by selling weapons
- Republican policies
- Their major policies were isolation, tariffs and low taxes this helped businesses to grow and gave workers more money to spend
- Credit, hire purchase and confidence
- People having confidence in the economy meant that people thought that their wages would increase so they spent more.
- Having credit meant that people without the money cash in hand could buy items and pay it later. This meant more people were putting money into the economy.
- People having confidence in the economy meant that people thought that their wages would increase so they spent more.
- Advertising and shopping
- Advertising alerted more people of new goods and made them more appealing so more people would buy them. Thus putting more money into the economy
- Electrical goods
- Electricity provided a more flexible form of power this encouraged development of many electrical goods.
- Construction and transport
- With more roads and more transport it allowed more goods to be delivered this creates more jobs and money.
- Isolation and WW1
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