https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3 Made with an impending crash on the horizon en-us 2021-10-06 22:37:38 UTC 2025-10-20 05:23:44 UTC hello@padlet.com https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1805144048 Technological innovation at the root of the economic boom in the 1920s. Developments in electricity stimulated the growth of many industries such as refrigerators, vacuum cleaners and radios. The production of these goods were central to the growth of consumerism and advertising, which catalysed economic growth in the 1920s. Republican government policies had been around in the Gilded age, but only with the introduction of technological innovations like the assembly line did the economy boom. The assembly line allowed for mass production by increasing speed and productivity, especially in the car industry. This reduced prices and encouraged consumerism. The car industry had a massive effect on the economy. It encouraged roads to be built and was central to the growth of other industries such as petrol, rubber and leather, as well as garages and motels. Overall Technological innovation was fundamental in the growth of the economy in the 1920s.]]> 2021-10-10 10:07:06 UTC https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1805144048 https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1807092631 Consumerism and advertising was the primary reason behind the economic boom - whilst things such as technological innovation and government policies were paramount to the prosperity of the 20s, ultimately it was the consumerism that lead to such huge economic wealth. Consumer durables such as radios and vacuum cleaners were in increasing demand after the technological innovation that had created all of these new products that were suddenly accessible to everyone. The average salary rose 8%, largely due to the now huge demand for different factory-made products, and celebrity endorsement and new advertising methods meant that every product was promoted in ways that it had never been before. Allowing credit and hire purchase also hugely increased the amount items bought as it meant that even those who were unable to afford certain items were suddenly able to. Female employment also rose during the 20s, which also created much more demand for labour-saving items such as washing machines, further adding to the economic prosperity of the 1920s.]]> 2021-10-11 09:08:02 UTC https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1807092631 https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1808788173 Whilst it's plausible to suggest that factors such as technological innovation and government policies nurtured the economic boom in the 1920's, it can be argued that it was the 'American’ hunger for success that ignited the fire of productivity, and this provided the foundations for economic prosperity. For example ‘Manifest Destiny’ (1860s-1870s) used the incentive of ‘a god given quest’ for Westward Expansion, and ’‘Rugged individualism’ harks back to the commendable amounts of labour carried out by the Pioneers. The romanticisation of what Americans were capable of has clearly been a driving force for some of their most prosperous era’s. Mass immigration (1900-13), and the 13 million people it provided for industry, enabled businesses to increase production and cut corners with regards to workers rights. Pull factors for immigrants included the promises of success and equal opportunity - expressed in Emma Lazarus’s poem on the Statue of Liberty. It can be said that government policies such as ‘Laissez Faire’ were accepted because there was a strong reliance on the sheer strength of the American psyche - the belief that people's individual pursuit of wealth would keep the economy afloat. Even in WW1, Wilson’s reluctance to become ‘involved’ so as to eventually emerge as peacemaker on the world stage, highlights the reputation Americans wanted to establish, a nation that is inherently: self driven, powerful and independent - which echoes the personal attributes that many Americans would believe characterised an eminent businessman. Therefore, belief in their own capabilities, the shared desire to forge the most glorious nation, and American ‘inclination’ to pursue greatness, underpinned the boom of the 1920s. 

]]> 2021-10-11 21:08:36 UTC https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1808788173 https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1808841239 The government policies of laissez-faire and protectionism provided an environment for an economic boom to thrive because they underpinned all elements of the economic boom. The policy of laissez-faire was essential to the development of new business methods, such as cartels which fixed the prices in an industry; this would not have been possible if there was government regulation in place. The policy of laissez-faire also allowed for big businessmen to chase the maximum profits they could without government interference. This in turn led to technological innovations and developments, such as the production line. The production line was created by Henry Ford to maximise efficiency in manufacturing cars; it was so successful Ford produced cars every 10 seconds. The production line extremely impactful in all areas of manufacturing, as it led to goods being produced as cheaply and quickly as possible, with the least amount of workers needed to actually make a product (which all increased the profits of the company). This also led to most businesses raising the wages of their workers, and the introduction of credit schemes to ensure consumers could buy their goods often. The policy of Laissez-faire also led the government to introduce lower taxes, in order to boast the economy; because at this time the more money American people had to spend freely was more money that could be pumped into the economy. This goes hand in hand with the policy of protectionism, which raised tariffs on imported goods to ‘protect’ the American economy from international rivals of goods producers. This meant that the American people were more inclined to purchase American made goods as they were cheaper, and due to the lower taxes and raised wages they had more money to spend on goods, and credit schemes helped them to be able to buy large goods often. The policies of Laissez-faire and protectionism therefore stimulated the development of consumerism and advertising, as the American people needed ‘convincing’ to frequently buy the goods manufactured with their increased spending money. The development of radios, and labour-saving machines such as washing machines were being brought by American households, but these would supposedly be one-time buys that would last years and years. For the economy to grow and continue growing, advertising needed to convince the American consumers to frequently buy these goods (this in turn stimulated the continual development of these goods to get better and better). Advertising techniques such as slogans and brand names were developed, and psychological techniques were used to connive people to buy products; for example cigarettes were branded ‘torches of freedom’ for women. The policy of Laissez-faire also stimulated the growth of the Stock market, because it was left unregulated. Anyone could buy shares on the stock market, and they could use credit and loans to buy shares; share prices rose as more and more people speculated on the stock market, which intern boasted the worth of companies. It can be also argued that the technological developments of electricity and plastics were pivotal to the economic boom, these allowed for the development of goods such as radios and lamps I homes, and provided a more efficient source of power for factories. However it can also be argued that the policies of protectionism and Laissez-faire, and all the elements that were able to thrive because of those polices, maximised the techonoligcal developments, and the economic boom would not have been so extreme without the environment that these policies created. ]]> 2021-10-11 21:44:11 UTC https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1808841239 https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1816399527 Government policies of protectionism were the fundamental cause of the economic boom in the 1920s. Republican governments put tariffs on imported goods from foreign countries in order to limit aggressive competition from foreign competitors. Imports gradually became more expensive than American-made goods. This consequently encouraged the purchasing of American goods by American citizens which grew American industry and helped US-based producers. The Fordney-McCumber tariff (1922) raised import tariffs on goods to their highest level ever, thus protecting American industry to such an extent that American companies were operating as cartels to fix prices and Americans were forced to buy products with higher prices as imported goods were too expensive. In addition, a reduction of income tax rates let some people with more disposable income. This, in turn, provided the money to buy the home-produced goods. Mellon handed out tax reductions totalling $3.5 billion to large scale industries and corporations]]> 2021-10-14 08:22:31 UTC https://padlet.com/MrBradshaws/3jfhzbwg9wsnwhu3/wish/1816399527