The Roaring Twenties: Boom Time in America
The 1920s were absolutely mental for American culture and economy. Radio ownership exploded to 7 million sets by the end of the decade, whilst silent films dominated cinemas with major studios like Paramount and MGM leading the charge. Jazz music with its African-American roots swept the nation, though older generations thought it was completely immoral.
America experienced a massive economic boom thanks to what economists call the "cycle of prosperity" - more sales led to increased production, which meant hiring more workers, who then spent more money, keeping the cycle spinning. The population grew rapidly, there were loads of raw materials like coal and oil, and the government followed a laissez-faire approach (basically staying out of business affairs).
Mass production, especially Ford's assembly line, revolutionised manufacturing. Companies used clever advertising through billboards and radio, whilst hire purchase schemes let people buy now and pay later - sound familiar? However, not everyone was living the dream. Farmers were struggling with overproduction, 7 million people were unemployed due to new technology, and a shocking 42% of Americans lived below the poverty line.
Quick Fact: The cycle of prosperity seemed unstoppable - increased sales → more production → more jobs → higher wages → more spending → back to increased sales!







