The Economy and Life During the 1920s - 635 Words

The 1920s was known for its prosperous and flamboyant lifestyle. The GDP during that time had risen by 30 percent and unemployment was as at an all-time low of 3 percent. This was not meant to last forever. In fact, it was nearly impossible for this to last any longer than it did due to an imbalance that society was unaware of including that not every citizen was experiencing this uncommon wealth. There were still 3 percent unemployed and even some of the employed members of society did not make enough to support a family and were considered homeless. It was in October of 1929 when this so-called luxurious lifestyle vanished as the stock market crashed at a time when the stock market seemed it would never stop increasing. This caused an economic, downhill, rolling ball effect. Those who took out loans to invest in stocks could not afford to repay the banks causing the banks to fail and close down. When the banks closed down, the depositors of that bank lost their life savings causing them to go broke and some company owners to close their doors. This led to a loss of jobs by the employers of those companies. This time period was known as the Great Depression and rightfully so. It is the most significant setback in the American Economy to date. The Herbert Hoover administration was in effect at this time giving the society an easy target to blame. Come time for the next election in 1932, Americans were ready for a change in authority to bring them out of this seemingly blackShow MoreRelatedEssay on Economic Expansions in 1920s1452 Words   |  6 PagesDuring the 1920s, there was a rise in economy of the United States. The people of the United States and its territories enjoyed a prosperous life, as the economy grew 7 percent per year between 1922 and 1927. In this period, also referred as â€Å"Roaring Twenties†, there was high economic growth with increase in the living standards of Americans. According to the textbook, â€Å"Nation of Nations†, the reasons for the economic expansions in the nineteenth century were due to the boom in the industrial sectorRead More Causes of the Great Depression Essay1143 Words   |  5 PagesThroughout the 1920’s, new industries and new methods of production led to prosperity in America. America was able to use its great supply of raw materials to produce steel, chemicals, glass, and machinery that became the foundation of an enormous boom in consumer goods (Samuelson, 2). Many US citizens invested on the stock market, speculating to make a quick profit. This great prosperity ended in October 1929. People began to fear that the boom was going to end, the stock market crashed, the economy collapsedRead MoreThe Influence of Jazz in America1187 Words   |  5 Pageshuman voice expresses the most emotion. Anyone can play their own voice and that is exactly what the people of the 1920s did. Is there a connection between these instruments and life during the â€Å"Roaring Twenties?† Louis Armstrong said it best: â€Å"What we play is life† (Armstrong). Different instruments used in the jazz era are direct reflections of the feelings of the 1920s. Jazz is defined as a distinctive musical profile grounded in the swinging 4/4 time with the Blues as a touchstone.Read MoreDifferences Between 1920 And The 1920s1367 Words   |  6 PagesAmericans during both the 1920s and the 1950s. While both of these periods saw great changes to policies and increased prosperity under these times, the shadows of war and discrimination still left many behind. During the 1920s, freedom was defined by economic freedoms based on a hands-off government and increased freedom of expression due to the sexual revolution that was similarly seen during the 1950s where freedom was defined as flooding of capitalist ventures and exploits. The 1920s were theRead MoreThe American Dream And The Roaring Twenties1336 Words   |  6 PagesEnglish 11 9 March 2016 The American Dream and the Roaring Twenties The 1920’s was knows as the Roaring Twenties or the Jazz Age because of all the dramatic political and social change, more people lived in cities rather than farms, and the nation’s wealth doubled between 1920 and 1929. There were many new technological innovations and many factors that made the United States the place to be to find the â€Å"American Dream†. The 1920’s were known as the Roaring Twenties or The Jazz Age because of many thingsRead MoreThe Great Depression Of The 1920 S1706 Words   |  7 PagesAt the beginning of the 1920’s, the United States was beginning to recover the economy now that World War I was over. During this decade, America became the richest nation in the world. The 1920’s, also referred to as the roaring twenties, was a period of dramatic and social change. More Americans during this era lived in the city rather than on a farm. The nation’s wealth doubled throughout the roaring twenties, and lead the St ock Market Crash of 1929 where the Great Depression followed after thisRead MoreEssay about Roaring Twenties772 Words   |  4 Pages The Roaring Twenties The decade of 1920-1929 was a time of great change, reform, improvement, adjustment and alteration of everything Americans had come to rely on. In other words everything changed. Not one part of common life was unaffected. Exciting new events happened in sports, entertainment, science, politics, communication and transportation. It was the age of prohibition, it was the age of prosperity, and it was the age of downfall. The twenties were the age of everything. It has beenRead MoreThe Absolute Value Of America1555 Words   |  7 Pagespowers America. From the 1920s to the present day America has been driven by consumerism. Consumerism- in its simplest form- is defined as the buying and selling of products. When tracing the evolution of consumerism in America, one must explore many factors that led up to today’s consumerist culture; the economic ups and downs of the 1920s through the 1950s, the anti-consumerist movement in the 1960s, and people’s obsession with material items in modern society. The 1920s, also known as the â€Å"RoaringRead MoreBeneath The Vibrant And Vivacious Atmosphere Of The 1920S,1317 Words   |  6 Pages Beneath the vibrant and vivacious atmosphere of the 1920s, the underlying issues of buying stocks on margin and increasing credit catapulted America into a series of struggles that would test the limits of its capitalist economy. Many middle-class Americans seized the opportunity to buy stocks on margin and utilize banks for loans so they could participate in the thriving realm of Wall Street and its potential wealth. But buying on credit wasn’t just limited to stocks and the bull market-- acrossRead MoreFlapper Dream Analysis1477 Words   |  6 Pages Winter Dreams and the Emptiness of the Flapper Lifestyle During the 1920s, there was a massive increase in the post-war economy, and with it came luxuries and technologies that many Americans had never seen before. The changing cultural climate brought with it drastic changes in the ideals and morals of the youth because they had become disillusioned with their parents morals and lifestyles following World War 1. Interestingly, the disillusionment that the youth of America