Assess the significance of the economic boom of the 1920s in the USA
The positive impact of the 'Roaring Twenties'
Economic growth
Social change (Improvement)
Greater independence and opportunities for middle class women
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Not everyone shared in the boom
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What conclusions to draw? Consider the following two quotes - which one 'sits' more comfortably with you in assessing the signifcance of the 1902s boom?
"In the USA too much wealth had fallen into too few hands, with the result that consumers were unable to buy all the goods produced. The trouble came to a head mainly because of the easy credit policies of the Federal Reserve Board, which favoured the rich. Its effects were so profound and so prolonged because the government did not fully understand what was happening or what to do about it." John A. Garraty, The American Nation (1979)
"We in America today are nearer to the financial triumph over poverty than ever before in the history of our land. The poor man is vanishing from us. Under the Republican system, our industrial output has increased as never before, and our wages have grown steadily in buying power." President Hoover, speaking in 1928 During his election campaign
"In the USA too much wealth had fallen into too few hands, with the result that consumers were unable to buy all the goods produced. The trouble came to a head mainly because of the easy credit policies of the Federal Reserve Board, which favoured the rich. Its effects were so profound and so prolonged because the government did not fully understand what was happening or what to do about it." John A. Garraty, The American Nation (1979)
"We in America today are nearer to the financial triumph over poverty than ever before in the history of our land. The poor man is vanishing from us. Under the Republican system, our industrial output has increased as never before, and our wages have grown steadily in buying power." President Hoover, speaking in 1928 During his election campaign