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1920’s Business Boom!

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1920’s Business Boom!. How does the boom lead to the bust?. “Here was a new generation,…dedicated more than the last to the fear of poverty and the worship of success; grown up to find… all wars fought, all faiths in men shaken.” -F. Scott Fitzgerald, This Side of Paradise.

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1920 s business boom

1920’s Business Boom!

How does the boom lead to the bust?

slide2

“Here was a new generation,…dedicated more than the last to the fear of poverty and the worship of success; grown up to find…all wars fought, all faiths in men shaken.”

-F. Scott Fitzgerald, This Side of Paradise

basics of economic boom
Basics of Economic Boom!
  • Increased standard of living
  • Rise of new industries
  • Changes in consumer behavior
  • Increased advertising
increased spending
Increased Spending
  • Higher wages
    • Ford doubled workers wages from $2.50 a week to $5.00 a week.
  • Clever Advertising

- How do advertisers today make us buy their products?

    • Advertisers connected products to the modern era of the 1920’s.
    • Ex: “Say it with flowers”
  • New products, especially electric appliances

-60,000 families in 1922 had radios

-9,000,000 motor vehicles were registered in 1920

increased spending5
Increased Spending
  • Availability of consumer credit

-Attitudes about debt shifted. It was no longer considered shameful.

-Advertisers told consumers to “buy now and pay later.”

- 75% of the radios purchased in the 1920’s were on credit as were 60% of the cars.

-Consumer debt rose from $3 billion dollars in 1921 to $7 billion dollars in 1929.

  • Consumerism – Higher wages and shorter work days resulted buying binge for the 1920’s.
rise in productivity
Rise in Productivity
  • New resources
    • More access to natural resources such as oil
  • New management techniques
    • As companies grew, the number of managers also increased. They were in charge of the different departments in a company.
    • Impact of assembly line process
      • Over production?
  • New technologies
    • Automobile, Airplane, Electronic appliances
      • How will these type of things change the way Americans live?
warning signs
Warning Signs:
  • What are three different warning signs that the era of Boom is about to become the era of Bust?
    • 1.
    • 2.
    • 3.
meanwhile back at the farm
Meanwhile, back at the farm…
  • Even though business was booming in America, many farmers were suffering.
  • During the war, farmers had been encouraged to grow many crops to support the troops. The crops were needed, which kept prices up. After the war, a major price dropped occurred, which severely hurt farmers.
  • Also, in the Midwest, farmers were receiving little rain…this would lead to what will later be called the Dust Bowl.