America 1920-1973 Flashcards
America 1920-1973
Why was American society known as the ‘melting pot’ in the 1920’s?
Because people from all over the world went to America for the American dream, and they were all mixed together.
Why is LACK PANTS significant to America in the 1920s?
It is a combination of reasons that helped contribute to the Boom in America
THE ECONOMIC BOOM
THE ECONOMIC BOOM
Why was the economy booming again by 1923 after the war and after the depression?
The boost of Republican Presidents policies
What does Laissez faire mean?
Republicans left businesses alone as much as possible to make as much profit as possible.
What made America very rich by 1918?
America exported weapons and food to Europe during the First World War this is made American companies rich
What are Tariffs?
- A type of tax on imports
- Goods built and made in America were cheaper
- This encouraged people to buy American, boosting American industries hugely
What happened to taxes in comparison to peoples wages?
- Wages increased but taxes stayed low
- People had more money to spend on American goods, increasing sales and boosting profits and the economy even more
Who benefitted the most short term because of the boost?
Businessmen (as company profits increased)
During the early 1920s the economy grew because of increased sales of CONSUMER ITEMS such as…?
Radios, vacuum cleaners and washing machines
Consumer items was driven by what four main factors?
Mass production, Tariffs, Advertising and Credit
What is mass production
Goods were made on a large scale. This meant consumer goods could be made much cheaper.
How was advertising used?
New advertising techniques were used. Newspapers ran adverts persuading people they needed the new products.
What was credit used for?
The real secrets of the boom were HIRE PURCHASE and CREDIT. People didn’t need to have the money at the time they waned to purchase a car or a radio.
The increased confidence also encouraged some people to invest in the…?
STOCK MARKET
Who created the first production and mass production (and when)?
Henry Ford, 1913
In 1927 one car was produced every…?
Ten seconds
Short term who suffered the most because of the economic boom
Farmers and mainly lower class people
Why was it that farmers suffered the most in the 1920s?
After WW1 demand for food fell dramatically
What happened to workers in old industries
They lost there jobs
New technology and new materials replaced workers in the ______ and ________ industries
Coal and textiles
What groups of people were most likely to be unemployed in the 1920s?
African-American, Hispanics and immigrant groups
The ____________ approach of the Republicans meant they did very little to help the poor.
Laissez-faire
What did the Republicans believe would happen if they left poor people alone?
The situation would sort itself out