The Economic Boom (1 ene 1920 año – 31 dic 1929 año)

Descripción:

The Economic Boom:
- America joined WW1 in 1917, losing less resources and making them comparatively wealthy.
- They had large supplies of natural resources such as timber that facilitated cheap production
- They sold goods such as medicines and weaponries to rebuilding European nations
- Millions of ordinary Americans participated in the stock market
- Mass production created jobs and cheap goods
- The electricity industry boomed, allowing after-dark spending activities and cheaper, newer appliances
- Loans and hire purchase schemes were commonplace and promoted spending
- Laissez Faire from the Republican government accelerated business growth
- Low taxation and high tariffs increased consumer ability to purchase American goods

Henry Ford:
- Essentially invented the moving production line, paid workers $5 per day, and invented the weekend
- Popularized the use of the car, which had the knock-on effect of pushing infrastructure and entertainment development

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