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Explain how the twenties were and were not so roaring - Essay Example

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The “roaring twenties” (1920s) was a period of economic prosperity for many groups in American but not all since some groups like farmers, immigrants and African Americans faced a lot of social, political and economic challenges during this period (Kenney 114). The spirit of…
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Explain how the twenties were and were not so roaring
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Download file to see previous pages s facilitated by influx of money in to the economies by soldiers from US and Canada who had just returned from War hence the production industry was forced to expand to meet the increased demand of goods. In 1921, President Harding signed the Emergency Tariff of 1921 which was aimed at reducing the tax rates, reducing the national debt and protecting the interests of the farmers. Overconfidence in the boom economy contributed to stock price speculation and excessive credit in the economy which led to the stock market crash and the Great Depression. The federal expenditure was increased in order to create new job opportunities and help the industries which were collapsing. The roaring twenties saw the development of transport system and other communication technology advancements (Kenney 115).
There was development of electricity manufacturing power and by 1929 all the main industries relied on electricity. Steam power provided much of the energy needs at the onset of 1920s but this was overtaken by electricity power as the decade progressed. Mechanization of manufacturing industries progressed through the roaring twenties where new processes and methods of production were implemented. The roaring twenties also experienced mass production in the automobile industry and mass broadcasting medium invention like the radio and television. Sound recording was later invented hence businesses conducted mass advertisements through these new mediums (Kenney 116).
Massive government expenditure was invested in railway construction, electrification and upgrading the highways in the hope that these new infrastructure was reap benefits in future. Most of the local governments were in huge debts. Urbanization increased in cities and demand of white collar jobs was high. Most of the States ratified Nineteenth Amendment which gave women the right to vote thus further sparking a series of women movements who demanded more rights for women and Blacks. The twenties also were marked ...Download file to see next pagesRead More
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