American Economy Grew Considerably in the 1920s Explain why GCSE coursework marked A 2004
The American Economy Grew Considerably in the 1920s- Explain why… A dictionary definition of economic growth is: “steady growth in the productive capacity of the economy (and so a growth of national income)” It basically means the country on a whole becomes wealthier and the economy prospers. So why did the USA have such an economy boom in the 1920s? ... In the 1920s America began to exploit its Natural Resources. ... And as the demand grew better automation was developed lowering prices and yet adding to the demand. ... The ‘American dream’ they believed in themselves and that they could do anything and anything was possible. This is why there was such an influx of immigrants wanting to enter America, but most held back by regulations. ... An American Republican party is the equivilent to the British conservative party. Unlike our Labour party, who claim to be on the side of ordinary British workers (‘Labour’ers) The republican party was more interested in the booming American economy than of its millions of worker- hence, they had few controls on how businesses managed its employees. ... This boosted American industries of raw materials and there was a greater demand for their products. ... It was made worse as they couldn’t sell abroad as easily, as other countries had started taxing American exports. ... American devision of class widened in the 1920s. ... Suddenly there was no money, no confidence and the depression began… Explain why the American economy grew considerably in the 1920s… I think all the long term and short term causes have relative importance.