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CAUSES OF THE GOOM Impact of wwl → Loaned money to Britain + allies [sold food tequipment] - created jobs didn't join war till 1917 Electrification → homes industries had Impact clean, cheap + effective powe → appliances : more affordable (more Americans buy) 1 fridge in 1921 = 167 in 1929 Innovation + New Tech Concrete mixers + power Shovels aided the building industry. telephones produced easier + sold for less more people could afford so sales rose Government Policy → low taxation but high taxes on imported goods + removed regulation of compances. CYCLE OF PROSPERITY Hire Purchase Able to pay installments • Sensible way to buy (more) people can buy Mass Production → Line production. Increased speed + efficiency of factory work led to a fall in price Causes Advertising •Mass production required mass selling! Commercials devised+ radios giant posters. • Promoting products. Cinema + INDUSTRY MOTOR Key to America's economic success [500,000 workers] Henry Ford invented assembly live + mass production. By 1926, nearly 20 million cars on America's roads Boosted over industries - glass, rubber, steel, leather •Road-building & Development of suburbs • Gave people sense of freedom. a STOCK MARKET BOOM Economic →Made money buy receiving a share of the company profits (a dividend each year) Selling share for higher price Buying on the margin-bought shares borried from the bank топед with Boom MISSING OUT ON THE BOOM African-American Workers already poor + white-only jobs. Poverty in the countryside → machinery took jobs + 600,000 farmers lost their farms in 1924 (prices...

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Alternative transcript:

of food fell) Inequalities of wealth → MAJOR CLASS DIVIDE Lover half the population still close to poverty. →very low wages for unskilled workers. More money •More people can afford to buy goods Increases employment. • More people needed to make the goods Wages People Spend their wages on goods. Increases Sales* profits EFFECTS OF THE GOOM Attitudes to wealth changed nationally. as spending was encouraged and many wanted prosperity. • Increase in boom + O Confidence led to stock market companies gained profits. •Boom in purchase in mass-produced products. and consumer goods Ce.g. vacul cuum) Advertising popularity grew as propa ghanda techniques from wit • Motor industry developed largely which had many social impact for Americans people used