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Everything seemed to be feasible through modern technology.New technologies, especially automobiles, moving pictures and radio proliferated ‘modernity’ to a large part of the population.
At first, the recession of wartime production caused a brief but deep recession, known as the post–World War I recession. The 1920s was a decade of increased consumer spending and economic growth fed by supply side economic policy.
The post war saw three consecutive Republican administrations in the U. All three took the conservative position of forging a close relationship between those in government and big business.
Furthermore, Coolidge consistently blocked any attempts at government intrusion into private business.
Harding and Coolidge’s managerial approach sustained economic growth throughout most of the decade.
Harding proposed to reduce the national debt, reduce taxes, protect farming interests, and cut back on immigration.
Harding did not live to see it, but most of his agenda was passed by the Congress.As such, the period is also often referred to as the Jazz Age.The Roaring Twenties was an era of great economic growth and widespread prosperity driven by government growth policies, a boom in construction, and the rapid growth of consumer goods such as automobiles.Hoover worked to get businessmen to respond to the crisis by calling them into conferences and urging them to cooperate.Hoover’s vigorous attempts to get business to end the depression failed.When President Warren Harding took office in 1921, the national economy was in the depths of a depression with an unemployment rate of 20% and runaway inflation.Harding signed the Emergency Tariff of 1921 and the Fordney–Mc Cumber Tariff of 1922.European economies had a more difficult readjustment and began to flourish about 1924.At the end of World War I, soldiers returned to the United States and Canada with wartime wages and many new products on the market on which to spend. and Canadian economies rebounded as returning soldiers re-entered the labor force and factories were retooled to produce consumer goods.The economy of the United States, which had successfully transitioned from a wartime economy to a peacetime economy, boomed, although there were sectors that were stagnant, especially farming and mining.The United States augmented its standing as one of the richest countries in the world, its industry aligned to mass production and its society acculturated into consumerism.