Causes for the Boom Flashcards
What are the production and technological aspects of the boom?
New Technology Impacts of the War Resources: US Natural resources Mass Productions Mass Marketing
What are the human contributions to the boom?
Credit Republican polices Wages rise Hire purchase Mass consumption
What is New Technology?
In this time period, there was a great innovation, different things being invented all the time. One thing that was made which made a profound impact on society was the invention of bakelite. Electricity was a lot cheaper making it more effective and efficient in factories. An example of a new Technology that helped the US is the assembly line, which created all of these different things.
What were the impacts of the war?
During and after the war The States supplied Europe with a lot of different goods. In some ways after the war America became the leader of the world, taking control of a lot of European markets overseas. The war then hastened technological change
What were the US natural resources?
The United States had an advantage over the rest of the world when it came to resources, the US had a great store of natural resources, like wood, coal, iron, minerals, and land.
What were the effects of advertising?
Advertising became more and more needed as they promoted products by using sophisticated techniques, advertisements were more colorful than before, catch phrases were now introduced. Magazine advertisements increased tremendously, and radio advertisements were completely new.
What is credit?
The growth of credit made it easier to buy goods even if they didn’t have that much money on them at the moment. Firms arranged for customers to pay by installment or hire purchase.
What were the republican policies?
They lowered taxes on income and company profits, giving the companies more wealth to invest in the American industry and buildings. Also giving the American people more money to spend. They also put Tariffs on imported goods, this made imports more expensive compared to American-made goods. This helped American businesses and industries. Another thing they did was essentially nothing, they did not interfere in business, or put any controls on financial institutions. That attitude was called Lassiez-faire.
What is hire purchase?
Firms arranged for customers to pay by installment or hire purchase. Hire purchase was for customers who could not afford to buy a product outright and could then pay by installment.
What were the effects of entertainment?
The sale of newspapers and magazines boomed tremendously, in 1919 the first tabloid newspaper Daily News had been published. This was followed by many other different kinds of magazines.
