Why was there a boom in USA during the 1920's?
The economic boom was the greatest time in American history. The economic boom in USA during the 1920's was caused by various factors such as; the First World War, new methods in industry, natural resources and many more. In my essay I shall be explaining how these factors took a role in the economy boom in America during the 1920's.
Firstly, one of the reasons for the boom was the First World War. America's late arrival to the war meant that they did not suffer as much damage as the other European countries. This meant that America was able to provide resources needed to the other European countries. The European economies were exhausted by the cost of waging a long war. However America was getting richer and richer during the war. They got rich by selling food, supplies and weapons to the European soldiers and they also took over many of the oversees markets because Europe was recovering from the affects of the war.
It helped that the US had no competition from any of the other countries and were the main source of supply. This not only helped them get richer but also improved their relationship with Britain because they were helping them out in their time of need. The First World War definitely helped America boost their economy.
Secondly, technology and entertainment was also a main factor that helped America raise their economy. This was a period of great innovation. New inventions were being made and people were getting richer. The development of technology led to many new and exciting products for example fridges, radios and vacuum cleaners. Many of these were laborsaving devices. Industries were modernised and became more...