America - Inequalities Of Wealth Flashcards
1
Q
Why did farmers suffer during the BOOM
A
Very large group. Total farm income dropped from $22 million in 1919 to $13 billion in 1928. Overproduction
2
Q
Why did Workers in old industries ( coal, leather, textiles) suffer
A
Coal suffered from competition from new industries like oil and electricity.
Leather and textiles struggled against man made materials.
Pay wages were not in-line with profits or dividends paid to shareholders.
3
Q
Why did the unemployed and poor suffer during the BOOM?
A
The growth in industry in the 20s did not create new jobs. Industries were growing by electrifying or mechanising production. Unemployed Americans = poor whites, African-Americans , Hispanic people, members of immigrant communities ( Jews, Italians, Irish)
