The Boom Flashcards
What were the Democratic Parties main beliefs
Government should intervene in society and economy
More socially progressive - A Americans supported
Liberal
What were the Republican Parties main beliefs
Lassaiz Faire
Low government intervention and low taxes for businesses
Conservative
Impact of WW1 on America
Not severely affected
Loaned Money to European countries - Profited off these loans
Loaned 10 billion to europe
What is Consumerism + SPEND
Prosperity fuelled by culture to buy luxury items
Advertising was effective
63% of American homes had access to electricity
How Ford Helped the economy + SPEND
Intro of Assembly lines - cars took 1.5 hours from 12.5
No trade unions
Car production reached 4.7m per year in 1929
How did people struggle during the boom? + SPEND
Farmers bought machinery to become more efficient
They overproduced and Europe introduced a tariff on US goods.
Prices fell - 600,000 farmers lost their farms in 1924
Reasons for stock market boom + SPEND
1927 number of shares traded 577 million
Businesses were strong with good pay + good profits
How did lifestyle change?
Cinema - over 500 movies a year
Jazz - black musicians - night clubs
