Why was there an economic boom?
WW1
Resources
Republican Politicians
Advertising
Machines & Technology
Confidence
Credit
Drove consumerism, need was replaced by want
Mass-Production and conveyor belts
Electricity led to automation
Wood, iron, land, coal, oil
One could now make purchases without actually paying money at the time
To buy more stocks, invest more, take bold actions
laissez-faire, more conservative, ideal for this kind of situation
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Rugged Individualism
tarrifs
low taxes
conservative
Isolationsim
Only american goods
low imports
high exports
LOTS OF MONEYS!
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Republicans believed the government should interfere as little as possible in the everyday lives of the people. This attitude was called laissez-faire. IN their view, the job of the president was to leave the businessman alone-to do his job. That was where prosperity came from
The Republicans believed in import TARRIFS which made it expensive to import foreign goods. For example, in 1922 Harding introduced the Firdney-McCumber tarrif which made it expensive to imported food goods in the USA