America 20th Century
- Created by: Fran
- Created on: 13-04-17 17:51
Isolationism
After WW1 many Americans, led by Republican President Warren Harding, felt they should focus on American issues and turn their back on Europe and the rest of the world.
The 'Boom'
The name for the rapid improvement in the US economy post-WW1.
What caused the 'boom'?
LACK PANTS
1. Laissez-faire - government didn't interfere with busuiness, so it was allowed to grow without check.
2. Assembly line - Henry Ford's invention of the assembly line meant new goods, like Model-T Ford, were quick and easy to produce.
3. Credit - buy now, pay later.
4. Knowledge - The German chemical industry was crippled by the war and the US replaced Germany as world leaders in new chemical industries, such as plastics.
5. Position of USA in the world - The US came out of WW1 in a strong position. Largely unaffected by the enormous cost of the war, having sold arms and supplies to Western Europe. The USA was also very strong in natural resources, so didn't have to import from other countries.
6. Advertising - adverts encouraged people to purchase new American consumer goods.
7. New consumer goods - new, highly desireable goods began to be massed produced and purchased, such as telephones, radios, fridges and cars. E.g. in 1920 there were 60,000 radios in America and by 1929 there were 10 million.
8. Tariffs - put a high price on exporting or importing from abroad, which encourage people to buy American goods.
9. Share confidence - people began to invest their money on the stock market. Confidence was high and share prices rose and rose.
Who didn't prosper during the 'boom'?
1. Farmers - overproduction of food; competition from Canada; less food exported to Europe. The result was 6million farmers forced on their land in the 1920s.
2. Coal workers - suffered from competition from new oil and elecetricity industries.
3. Women - paid less than men for equivalent jobs; given the vote but considered 'unelectable' as politicians.
4. Communists…
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