Boom and Crash, 1920-29 Flashcards
List 7 reasons for the economic boom:
- Isolationism
- New inventions: Mass production, car industry, marketing, tech development
- Natural resources
- US Industry
- Banks
- Hire purchase plans
- Advertising
Who was doing well from the 1920’s Economic Boom? Why?
- Rich people and business men.
- Who didn’t benefit from the 1920’s economic boom and why?
- Speculators on the stock market
- Middle class white people
Who did not benefit from the 1920’s boom?
Black Americans (sharecroppers), Native Americans, and farmers.
What 3 things lead to increased intolerance in the 1920’s?
- Many Americans wants to maintain a status quo (ie traditions like gender roles, morality and tradition).
- This status quo also focuses on employment, housing- quality of life, White Americans- ironic.
- Essentially American exceptionalism.
Who challenges this status quo?
- Women- typically younger urban women
- Black Americans
- Immigrants
- The academics: Darwinists for example.
- Native Americans (were not seen as a direct challenge)- being assimilated into ‘white American’
- Native American children were taken from families to Native American schools, given white American names, getting their hair cut and made to forget their languages.
- Communists (socialists)
What was buying on the margin?
Getting a loan from a broker and using the money from the loan to invest in more stocks than you can buy with the money you already have.
____ Market- A period when share prices fall.
____ Market- A period when share prices go up.
- Bear
- Bull
When was Black Thursday?
Thursday 24th October 1929
By November 1929, the value of shares had fallen from $87 billion to $__ billion. By 19__, they had fallen to only $18 billion
- 56
- 33
What percentage had wages fell by between 1929 and 1931?
By 16%
How much had Gross National Product (GNP) fell during the wall street crash?
29%
