America-The people and the boom Flashcards
Name three causes for the pre war economic boom
.Wealth and resources .First world war .Republican policies .The car industry (Henry Ford) .New Methods( Assembly line, advertising and Credit) .State of Mind
How did Wealth and Resources in the Us lead to an economic boom?
.The USA were rich in raw materials, there was new technology and skilled inventors
How did the First World War lead to an economic boom in USA?
.US-supplied Britain and France with armaments and food
.Were able to trade with the rest of the world while everyone else was fighting
.US involvement in the war was not long enough to drain their resources
.Debt repaid by Britain and France in 1920s helped form new investment
How did Republican Policies lead to an economic boom in the USA
.Isolation- high tariffs on foreign goods to protect the US industry
.Laissez Faire- no interference into business and peoples lives
.Low taxes on high incomes
How did the Car industry lead to an economic boom in the USA?
.New assembly line and mass production techniques created ever-cheaper cars. This fuelled sales
.1 car to 5 people in USA-Britain=1 Car to 43 people
.1 Car came off the production line every 10 seconds
.Thousands of Jobs created jobs in other industries
How did New Methods lead to an economic boom in USA?
.Mass Production and Assembly line lead to a boom in affordable consumer goods like radios and vacuum cleaners
.New advertising campaigns (often nationwide) encouraged sales
.Hire Purchase and credit schemes helped people spend more
How did State of Mind lead to an economic boom in USA?
.Most Americans now believed it was right to spend money rather than save
.Confidence in investing in the stock markets as people saw they could make money
.Investment gave companies a lot of shareholders money to invest
Who were the poorest paid Americans?
.Immigrants and black Americans
.
Why was the price of farm produce still low?
Farmers were overproducing so the market was saturated-farmers remained some of the poorest paid
Why did workers in older industries not share prosperity?
Could not compete with new technology
Between 1920 and 1929 unemployment became stuck at which percentage?
5%
What was the average rise in wages in the 1920s?
11%
How did cars change the lifestyle of Americans?
.More freedom lead to creation of jobs
How many radio stations were there in the 1920s?
Over 700
By 1930 how many people went to the cinema each week?
Over 100 million
What were the two types of movies in Hollywood?
Silent movie and Talking movies
What was the new music made by black musicians called?
Jazz
What new dance came along with the introduction of Jazz music?
The Charleston