The Roaring Twenties

Flashcards about the Roaring Twenties in the USA

What was the Boom in the USA during the 1920s?

A period of rapid economic expansion in the USA between 1921-1929, with a 41% rise in GDP.

What was the state of employment and wages during the Boom?

Unemployment fell to 1.6 million and real wages rose by 26% from 1921-1929.

What was the impact of World War 1 on the USA?

The USA joined later, suffering less than European countries and allowing its economy to grow as rivals contracted.

What was the immediate impact of World War 1 on the US economy?

Factory output grew 35%, agricultural prices 25%, employment by 1.3m, and wages by 20-30%.

How did Ford revolutionize mass production?

Ford invented the assembly line in 1914, reducing car production time from 12 to 1.5 hours.

How did mass production affect consumption?

Mass production led to new consumer goods at lower prices, stimulated by electrical appliances.

How did mass production impact the motor industry?

Mass production decreased the cost of cars, with the Ford Model T falling from $850 to $260 by 1924.

What industries grew as the motor industry did?

Glass, rubber, leather, petrol and steel

What was the government's economic policy during the Boom?

The government followed a policy of laissez-faire, not intervening in the economy.

What measures encouraged business during the Boom?

Andrew Mellon's tax cuts, restricted unions, and tolerance of trusts.

What was the impact of the 1922 Fordney-McCumber Tariff Act?

The 1922 Fordney-McCumber Tariff Act increased tariffs to the highest levels, averaging 40%.

How was advertising used to stimulate the economy?

$2 billion was spent on newspaper and radio advertising in 1929 to promote new consumer goods.

How did hire purchase schemes affect consumption?

Consumption was encouraged through hire purchase schemes, with 8 out of 10 radios bought on credit.

How did buying 'on margin' work?

Banks loaned money 'on margin,' giving 90% of the share price with the share as security.

Why did Europe need to import less food after WWI?

Europe needed to import less food and there was increased competition from Canada.

What happened to wheat prices during the limits of the boom period?

Wheat prices fell over 50% between 1919-1923.

What was a tariff in retaliation to US tariffs?

Other countries imposed tariffs in retaliation to US tariffs, preventing the surplus being exported.

What happened to forming incomes as prices collapsed?

Farming income fell from $22 billion in 1919 to $13 billion in 1928 as prices collapsed.

What was the state of workers during the limits of the boom period?

Workers had long hours, poor conditions and restricted access to trade union representation

What was the state of old industries during the limits of the boom period?

Old industries such as coalmining and textiles declined: oil rivalled coal, rayon replaced cotton

Who was the first man to fly across the atlantic in 1927 and what was the name of his plane?

Charles Lindbergh was the first man to fly across the Atlantic in 1927 in the Spirit of St. Louis.

What city became the center of the movie industry and how much did it earn annually?

Hollywood became the centre of the movie industry around the world, earning $2 billion annually.

Which jazz film was the first talkie released in 1927?

The Jazz Singer, the first 'talkie', starring Al Jonson, was released in 1927.

What type of music was considered the most popular among youth during this time?

Jazz became the most popular music among the young and came to reflect the spirit of the 20s.

Which Jazz musicians became famous?

Louis Armstrong & Duek Ellington

What was the most popular sport during this time?

Baseball

How much did the radio grow in the 1920s

The number of radios grew from 60,000 to 10 million, 1920-1926

What was the impact of WW1 on Women?

The war gave women greater freedom which could not be reversed when the men came home. They had taken over jobs previously filled by men and continued to work after the war

What was the state of Female employment during this time?

During World War 1 many women had worked as they took jobs in factories vacated by men. This change was impossible to reverse: female employment rose 24%, 1920-9, to 10 million

Who were the Flappers?

New generation of young, fashionable, daring women who challenged traditional expectations. They were characterisd by short ‘bobbed’ hair and short skirts with hemlines above the knee