America experienced a period of economic growth in the 1920s. The growth was attributed to an increase in workers’ wages and stock advancement. The period had high modernity and an increase in cosmopolitan life. The government made some health reforms on diseases after the discovery that many people lacked medical support, but childbirth was not addressed, and many women died during this period because of birth. There was an emergence of better medical care and the rich benefited from this medical advancements. The period also experienced a transition from progressive tendencies to conservative nature. There were many campaigns to reform the country through the use of liberal ideas in the 1920s. Women fought for prenatal care and tried to convince others of the importance this held in the whole country.
During this era, there was technological advancement and significant innovativeness. The radio was one of the most valued progress that aided to improve communication during that time. The first radio networks came to be during this period leading to programs heard nationwide. The aviation industry also developed, there was mass production of aircraft leading to a network connection of cities through local airlines. Scheduled flights were made, but only a few Americans could access this facility. However, many Americans owned cars, and transport shifted from being primarily public to private.
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Labor during this period was harsh as the conservative nature of the government made it difficult for laborers to have an organized labor system. Unions were challenged continuously by employers who tried to make the institutions illegal. Employers fought against people’s freedom of choice through labelling unions as socialist groups. Workers who attempted to start any union faced hostility and violence. The working environment was not favorable to the laborers, but the businessmen benefited greatly from the conditions and tried to remain in power.
Consumption of goods grew as marketers worked to make people buy products by convincing them that they needed the goods. They manipulated the audience’s emotions by portraying the goods to be necessary for one to live a good life. Marketers sold and the new era led to the development of many colleges that centred on business education. There was much economic input on marketing in comparison to school.
The great depression began in the year 1929. It occurred when the stock market in America crashed, leading to a significant loss of millions. Many people had invested in the New York stock exchange, the investors ranged from rich to poor, and those who lacked money took up loans to be a part of the experience. Due to the substantial investment, there was pronounce expansion. Production levels had gone down, and unemployment had increased during this period. It was caused by a drought being experienced.
The economy declined during this period because consumers spent less money and good went unsold for an extended period. The industrial output in turn and many people were laid off from work. Many banks failed due to unpaid loans taken up by people unable to clear them because food prices were failing. Despite this, the stock prices increased. However, investors to keep buying stock were unavailable, and the prices began to decline. The banking system suffers the most harm from the recession. Many people lost their wealth and a massive gap in wealth distribution developed.
The 1920s was a period of economic growth that led to a rise in the stock market. Technology advancement aided people to have a sense e of uniformity and eased communication. Eventually, the end of the prosperous economic ear came upon American through the considerable depression period when the stock market crashed. There was severe loss and a significant wealth gap development. The poor were unemployed, and those who were employed received poor salaries and had terrible working conditions. The period shows a big contrast between a moment of peace and prosperity that went south in a matter of days leading to a long period of trouble and loss.
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