Rising Standard of Living (jan 6, 1920 – jan 6, 1929)
Description:
- Income rises 35%- Electrical appliances: refrigerators (icebox), dryer, washing machine, vacuums, etc.
- Installment buying allows more people to buy new appliances. Early version of credit cards. Example of American instant gratification.
- War showed people that life was fragile. In response, they lived in the moment and spent a lot of money.
Added to timeline:
Date:
jan 6, 1920
jan 6, 1929
~ 9 years