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Roaring 20s (American industries boomed in the 1920s, changing many…
Roaring 20s
American industries boomed in the 1920s, changing many Americans' way of life
War
After WW1 ended, it has an immediate impact on the economy. War supplies were no longer needed, meaning there was money for other things and millions of soldiers were in need of jobs.
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People also rushed to buy things that were not available during the war, meaning that prices rose
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New president
The public were captured by Harding's promise of normality, winning him 60% of the overall votes. Harding was apart of the Republicans, and was a likely candidate as voters were outraged at the democrats for the failing economy.
He hired a cabinet of experts who believed in reducing money owed by the government and limiting government involvement in the economy.
Although Harding himself wasn't corrupt, his friends were. It was believed that they made corrupt deals with private oil companies. accepting large sums of money in exchange.
Tax cuts for wealthy Americans were pushed as they were convinced it would create incentive to invest in new business and create jobs for other Americans.
The economy lead by Harding created new, better paying jobs that lead for an economic boom lasting for nearly a decade
Employment
Once the war ended unemployment rates shot through the roof, but that changed after 1921
U.S manufacturing nearly doubles, and as jobs and wages increased, people we able to purchase these products.
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