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THE USA: How far did the US Economy boom in the 1920s?
On what factors was the economic boom based?

Industrial Strength:

USA was a huge country and had many natural resources: oil, coal, iron, gas, textile industries
­ didn't need to import many raw materials.
Growing population.
Home market…

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Low Taxation:
Brought some benefits to working class people BUT benefited the wealthy more.
People keep their own money ­ spend it on American goods and the wealthy would
invest it in industries.
Trusts:
Super-huge corporations which dominated industry.
Some believed it was unhealthy for one man to have almost…

Page 3

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Total US farm income dropped by $9 billion to $13 billion from 1919 to 1928.
Post-war: less market for food in Europe ­ they are poor and don't want to import goods
from the USA if they have no market in the USA for their goods due to tariffs.
Competition…

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