How Would You Characterize the Economy Of The 1920's? What Made It “Roar” And What Role Did The Government Play During This Time?

How Would You Characterize the Economy Of The 1920’s? What Made It “Roar” And What Role Did The Government Play During This Time? Name of student Course Institution Instructor’s name Date due Introduction The 1920’s saw such monumental economic growth in the united states that the occurrence of The Great Depression in the 1930’s was almost a surprise. Surprisingly, it is the economic crisis that really steals the show, and both historians and economists usually overlook the economic breakthrough of the 1920’s. This is the period when the U.S. experienced great strides in the economy with enhancement of rail transport, communication services, consumer appliances, and recreational facilities etc. There was one drawback to this period though; the distribution of economic gains was skewed. Although there was significant economic growth in the 1920’s, only the rich and middle-class really benefited during this period. The “Roaring Twenties” This is a term used to describe the American economic boom of the 1920’s. In a span of a decade, there was massive advancement in terms of production and consumption, with the standard of living of a section of Americans rising steadily. When the Roaring Twenties began, the First World War had just ended. Therefore, there was a bit of a troubled transition into normalcy with worker’s strikes being the order of the day. One of the major strikes was the General Strike of All Workers in Seattle which almost brought class conflict. (Shmoop Editorial Team, 2008) Since this crisis happened a few years after the Russian Communist revolution, there were deep concerns among Americans. Factors of the Growth After the country had gone past the transition period, the discovery of new technologies led to massive growth. The major beneficiary of the economic boom of this decade was the stock market, whose value reached its apex in 1929. However, there is something interesting about these successful years in the American economy. The rich, meaning that ...