Usa Boom Flashcards
What factors for the economic boom
Natural resources - wood,iron,coal,minerals,oil,land
Impact of ww1 - europe owed loads and one way trade
Technological change - innovations and new car models and new supply of electricity
Mass marketing - keeps demand high
Credit - loan from the store meaning higher purchase
Confidence - invest in shares. Start businesses
Mass production - Henry ford assembly line
The car
Cars before were expensive
In 1913 moving assembly line was made
More than 15 million model t made
Republican policies
Tariffs on important goods
Imports expensive
Didn’t interfere with businesses
Tax lowered
Why did some industries prosper while others didn’t
Rich got richer poor made little change
1928 an estimate of 42% of the American population was below population line
Farming and old industries suffered most
Why did argriculture not share in prosperity
30 million people earned a living from farming
Us farming income dropped from 22 billion in 1919 to 13 billion in 1928
More than 3 million farming families were earning less than 1000 per year
Between 1920 and 1930 number of farms declined for first time ever
Only small farmers suffered as big ones got mechanized
Did all Americans benefit
Groups of people
Farmers
Blacks - 750,000 black farm workers lost their job in 1920, 60% of black women were domestic servants and 25% lived in northern cities
New immigrants - large number worked in construction when there was a building boom, discrimination, construction wages only rose 4% in 1920 the unemployment rate remained high
What happened to people that worked in old industries
Older industries were modernized particularly mechanization in the 1920s, cotton coal tin and copper were suffering,
In 1922 600,000 miners went on a 4 month strike for better work conditions but didn’t work
Unemployed - nearly a 5%
