During 1929, The Great Depression a period of economic decline led by the stock market crash. The Stock market crashed because people were excessively investing money to double their value. Eventually, it reached the peak where it crashed. People lost all of their money, and their life savings. This had led to the Great Depression because many people were unemployed, and were financially unstable. People were unable to support their families because of the lack of jobs and not having food to eat due to the risen prices of food. Franklin Delano Roosevelt took action and made reforms to maintain a balanced society. The roaring twenties, and many other factors that contributed to The Great Depression caused Franklin Delano Roosevelt to change
…show more content…
The United States doubled its wealth between 1920 and 1929. Many things happened during the roaring twenties. The ‘new woman” was very popular during this time. She was called a “flapper”, she was a young woman who did “un ladylike thing”, she would have bobbed hair, smoked, drank and wore short revealing clothes. This woman was more sexually “free” than times before. These women were discriminated against, but during the roaring twenties, they were given the freedom to vote in 1920. Many had well-paying white collar jobs, and had the opportunity to join the consumer economy. The birth of mass culture was a time when Americans spent money on many appliances, especially radios. By the end of the 1920s, there were more than 12 million households with radios. Another popular consumer product was the Ford automobile. According to the History Channel, “In 1929 there was one car on the road for every five Americans. Meanwhile, an economy of automobiles was born: Businesses like service stations and motels sprang up to meet drivers’ needs.”. Another thing that happened during the 1920’s was prohibition. The 18th amendment banned the sale of “intoxicating beverages”. So, it was illegal to sell or buy these beverages. This caused organized crime figures like Al Capone, to trade and buy these beverages underground. It was also controlled by bootleggers, and racketeers. The middle class liked this idea because …show more content…
The gap between the rich and poor had a lot to do with wages, and how much they made. Wages during 1923 and 1929 only increased by 8 percent. At the same time, the prices remained solid. The cost of production decreased, while items were being mass produced. The outcomes were obvious, profits increased. The profits were sent to profit owners, and not the workers. The government did nothing for this conflict. In fact, the government actions aggravated the problem. The secretary of treasury, Andrew Mellon (1855-1937) was one of the richest men in the United States. According to Gale Group, “He saw to it that tax cuts for the wealthy passed through Congress in the 1920s, helping the rich retain even more of their wealth. When workers tried to organize and use unions and strikes to improve their wage and health benefits, the government was hostile to such activities” So, the richest families did not lose everything during the stock market crash because they also invested ownership of manufacturing companies. Unlike, newly rich people who invested all their money in the stock
The United States doubled its wealth between 1920 and 1929. Many things happened during the roaring twenties. The ‘new woman” was very popular during this time. She was called a “flapper”, she was a young woman who did “un ladylike thing”, she would have bobbed hair, smoked, drank and wore short revealing clothes. This woman was more sexually “free” than times before. These women were discriminated against, but during the roaring twenties, they were given the freedom to vote in 1920. Many had well-paying white collar jobs, and had the opportunity to join the consumer economy. The birth of mass culture was a time when Americans spent money on many appliances, especially radios. By the end of the 1920s, there were more than 12 million households with radios. Another popular consumer product was the Ford automobile. According to the History Channel, “In 1929 there was one car on the road for every five Americans. Meanwhile, an economy of automobiles was born: Businesses like service stations and motels sprang up to meet drivers’ needs.”. Another thing that happened during the 1920’s was prohibition. The 18th amendment banned the sale of “intoxicating beverages”. So, it was illegal to sell or buy these beverages. This caused organized crime figures like Al Capone, to trade and buy these beverages underground. It was also controlled by bootleggers, and racketeers. The middle class liked this idea because …show more content…
The gap between the rich and poor had a lot to do with wages, and how much they made. Wages during 1923 and 1929 only increased by 8 percent. At the same time, the prices remained solid. The cost of production decreased, while items were being mass produced. The outcomes were obvious, profits increased. The profits were sent to profit owners, and not the workers. The government did nothing for this conflict. In fact, the government actions aggravated the problem. The secretary of treasury, Andrew Mellon (1855-1937) was one of the richest men in the United States. According to Gale Group, “He saw to it that tax cuts for the wealthy passed through Congress in the 1920s, helping the rich retain even more of their wealth. When workers tried to organize and use unions and strikes to improve their wage and health benefits, the government was hostile to such activities” So, the richest families did not lose everything during the stock market crash because they also invested ownership of manufacturing companies. Unlike, newly rich people who invested all their money in the stock