Abstract
The 1920’s was an extraordinary time in American history. Business exploded and brought with it increased wages, lower unemployment, and greater confidence in general. This was due in part to the federal government’s lack of interventions in the economy. Another contributing factor to the unprecedented growth was the replacement of man for machines.
It is said that industrial production nearly doubled in this decade without a serious increase in paid labor. The Federal Reserve kept interest rates low which also provided an environment for growth. America would possess roughly 40% of the world’s wealth reaching an amount equal to that of all Europe. The total wealth of America would roughly double during the 1920’s. As Ken Burns articulates, this new era would bring even more inventions, and therefore new merchandise promoted by a growing advertising industry such as, “…washing machines and refrigerators and vacuum cleaners, 12 million radios, 30 million automobiles, and untold millions of tickets to the movies.”
This environment set the stage for Americans to profoundly improve their quality of life. By this time electricity was commonplace, and the automobile became accessible to the common man. This gave rise to travel and greater independence. The “Roaring Twenties” is exemplified in the social changes of the time, along with greater freedom with the automobile and the economic prosperity that enhanced the activities of society.
The Nineteenth Amendment, giving women the right to vote, passed in 1919 and was ratified in 1920. The prohibition of alcohol, also beginning in 1920, coincided and created complex changes to society in America. During this time many women would step out of their old roles and take on more challenging jobs in society. This also contributed to the prosperity of the 1920’s. With the prohibition of alcohol came the “speakeasy,” or underground and illegal bar. For the first time men and women would meet together in public and have cocktails or beers under the same roof.
With WWI behind us and greater economic and personal liberty for Americans, the United States was catapulted into a carefree and prosperous state of growth. Technology continued to be a crucial factor in this economic growth as the rate became exponential. This growth would continue throughout the entire decade of the 1920’s until certain consequences caught up to the economic system. America experienced another great era of growth after WWII during the 1950’s and 60’s, but nothing like that of the blazing twenties.
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1
Secondary Burns, Ken. "Prohibition: Roaring Twenties." PBS, n.d. Web. 07 May 2015.