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The Reasons for the Economic Boom of
The 1920s
Easy Credit
This consumer boom was greatly aided by the availability of hire purchase - the ability to
buy goods on credit
Because times were good, people were not worried about having to keep up
Shoppers were able to buy…

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New Business Methods
New business and production methods along with progressive business philosophies
allowed manufacturers to boost turnover and to make large profits
Which they put back into new factories and wage rises
Department store and service station chains used massive buying power and operating
efficiencies to lower prices while…

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Technological and Structural Advances
"Taken together, a series of new methods in manufacturing, labour relations and consumer
sales perfected during and after WWI constituted a virtual second industrial revolution"

~Joshua Freeman in Who Built America (1992)

"Second industrial revolution" centred in Detroit, Michigan
Henry Ford revolutionised car manufacturing, which had…

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Influence in Foreign Economies
World War One
USA had tried to stay out of most of the fighting during the First World War
o But there was a big market in Europe for arms, munitions and food
o And they lent the Allies money
o This one-way trade was hugely…

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Taylor was one of the intellectual leaders of the Efficiency Movementand his ideas,
broadly conceived, were highly influential in the Progressive Era

Samuel Insull
Samuel Insull was a British-born American business magnate whose vast Midwest holding
company empire collapsed in the 1930s
He was an innovator and investor based in…

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The Continuing Problems in Agriculture
and Parts of the Economy
Why did agriculture not share in the prosperity?
Total US farm income dropped by $9 billion to $13 billion from 1919 to 1928
Less market for food in Europe
They are poor and don't want to import goods from…

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Did all Americans benefit from the boom?

Benefited Hindered
Owners of consumer goods Farmers
factories Coal industry
Industry was rising Competition from industries such as oil
causing their profits to and electricity
sky rocket Strikes in the coal industry
Assembly line workers o male workers only paid $18 and

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