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Economic Boom for USA During 1920 (Industrial Strength (Enough natural…
Economic Boom for USA During 1920
Industrial Strength
Enough natural resources
Growing population of 123 Million by 1923
Most of the population was living in cities and working in factories
Massive Steel, Coal & Textile Industries [Also leading oil producer]
One of the most high-tech industries
Skilled & Professional labor available
High production of raw materials
World War I
Selling of Ammunition to the nations participating in the war.
One-way Trade
USA over took Germany in chemical production and trade
Development and Growth in the Aviation Industry
Republican Policies
Laissez-Faire
: Such a way of lifestyle meant full freedom from the govt. and ensured that they will not interfere in an individual's life
Protective Tariffs
: Import tariffs which allowed the growth of local businesses and made importing expensive
Low Taxation
: This benefited the individuals and allowed them the benefit of spending more on Americans goods and services.
Powerful Trusts
: Trusts were high-super power corporations who dominated the industry. They felt these organizations could maintain a safe market.
New Industries/Methods
USA was able to use its resources to its best
ELECTRICITY!
Luxury was made cheaper
eg. Car
Heavy Advertising of products
Product/Service on Credit
Chain Stores
State of Mind
Right to Prosperity
Savings
Investments