The Causes and Consequences of the Economic Boom
- Europe was devastated at the end of the war.
- The USA lent Europe money and sold them goods.
- Industries applied mass production for high demand, they could sell cheaper and produce more.
- Laissez-faire- wages fell
- Involvement without commintment.
- did not join the League of Nations
- restrictions on immigration
- tariffs on goods from abroad- but USA, however other countries but taxes on USA goods.
- Emergancy Tariff Act 1921- taxes on imported goods
- Budget and Accounting Act, 1921- controls on government spending
- Revenue Act, 1921- changed taxes, charged businesses more but less on profit
- Fordney and McCumber Tariff Act, 1922- raised tariffs on imported goods.
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