1920s-1930s: Boom and Bust! BOOM = Economic expansion
HISTORIOGRAPHY David Snowman ( Historian) described the roaring twenties as a decade of: ‘rose coloured nightmares’ What does this mean??
Context : 1920s – Glamour, jazz and wealth was just the tip of the iceberg, what was underneath? 1920s
ARGUMENT • For this issue, it is important to understand the weaknesses and strengths of the US economy. • This was undoubtedly a BOOM time in industry for big business and workers HOWEVER you must also be able to argue that this period of affluence also masked some fundamental problems that CAUSED the Wall Street Crash and consequently the depression.
Immediately after WWI • There was a brief decline in US industry as wartime orders halted and the demand from European markets decreased. • However, the rapid expansion in electrical power and mass production in industry from 1922 onwards overcame this brief recession. 1928 President Hoover said "We in America today are nearer the final triumph over poverty than ever before in the history of any land".
1921-22 BOOM! PROFIT EMPLOYMENT STANDARD OF LIVING
The 1920s BOOM • What statistical evidence can be used to prove the 1920s was a decade of economic growth? • Why did WWI benefit the US economy? • Why did industry and consumers benefit from mass production techniques? • What impact did the automobile have on other industries? • Why did the public have more leisure time? • What areas in the economy did this then stimulate?
Group task • Each group will investigate a different factor and argue that their factor is the most important reason for the economic boom. • You will present your argument in a 3 minute presentation. You will also give the class 3-5 key points as notes.
Ford T • http://www.youtube.com/watch?v=wA2P76gQUCo
The Century: America's Time - 1920-1929 Boom to Bust documentary • http://www.youtube.com/watch?v=OJlgil_38hU