The Boom (1920s) Flashcards
What was the American boom?
A period of economic prosperity making America the richest country in the 1920s
How did American industry benefit from the boom?
Overall out put doubled in the 1920s
Cheaper silk substitute (rayon) in 1930 meant 300 million pairs of stockings sold to around 100 million women
How did home life in America benefit from the boom?
The first male catalogue was introduced in 1927
In 1929, almost all urban homes had electricity compared to 1918 when electricity was rare
Phones, fridges and radios increased
How was transport affected by the boom?
Federal Road Act of 1916 = intense road building
1920s: Twice amount of road
1929: 3.5million trucks
How were cities affected by the boom?
In 1920, more skyscrapers were built than ever before
What does LACKPANTS explain?
Why there was a boom in the 1920s
What does LACKPANTS stand for?
L aissez faire A ssembly line C redit (Hire Purchase) K nowledge P osition of America A dvertisment N ew consumer goods T arriffs S hare confidence
What is laissez faire and how did it help cause the boom?
Where republicans believed the government should do as little as possible to interfere in people’s everyday lives allowing businessmen to be free to make profits
What is the assembly line and how did it help cause the boom?
Created by Henry Ford, where manufacturers could increase the speed and production of goods and make them cheaper.
The product being assembled passes through an arrangement of workers, machines and equipment one after the other until complete
What is credit and how did it help cause the boom?
hire purchase
Where catalogues were given to each home
Hire purchase allowed people to buy goods with a small deposit and pay it off in weekly instalments allowing more people to afford expensive items
What is knowledge and how did it help cause the boom?
Where in the 1920s, new uses of technology allowed radios and televisions to produce adverts to get consumers to buy their goods and more people made their own goods in the country creating more jobs and boosting the economy as purchasing outside america was made expensive by the republicans
What was the position of America and how did it help cause the boom?
Despite 100 000 Americans died in WW1, the country didn’t face physical and financial damage like Europe
Instead, they helped the Europe by selling food and weapons to the allies creating many jobs , businesses and boosting industry
What was advertisement and how did it help cause the boom?
Where big industries used sales and marketing techniques through posters, radio adverts and travelling salesmen to get Americans to buy goods they never knew they needed
What was new consumer goods and how did it help cause the boom?
Because by 1927, 70% of American homes had electricity so new products like washing machines, fridges, vacuums, radios and motor cars
What were tariffs and how did it help cause the boom?
Were the republicans wanted rich people to have as much money as possible so they could start more companies and create more jobs so they placed tariffs on imported goods so everyone bought American goods
