H.+America's+Economy+Roars

Each group should post his/her responses in the cells below.Make sure that both questions are answered fully. Include your first name + last initial at the bottom of your cell. || Hannah and Tyler || Supporting Details/Key Terms:
 * **1920s**
 * America's Economy Roars**
 * **Period 2** || **Period 3** || **Period 5** ||
 * Summary Statement: The main idea ofthe reading was how after WWI America fell into a slight recession in order to not make things that bad the government basically stimulated the community. But this went for far bursting the bubble and causing the depression. || Summary Statement: The 1920's was a great decade full of economic growth, because of technolgoical innovation, laissez-faire government policy toward businness, and new forms of advertising. But, despite the greatness of the 1920's, it would turn in to one of the greatest economic depressions in American History. || Summary Statement: During the close of WWI, America had been caught into an unforunate recession. In other words, it was a difficult time for America to support itself in which families had to try to be supported by wage labor and farming. ||
 * Supporting Details/Key Terms:
 * Americans felt that a booming business sector was the road to recovery from recession.
 * People were afraid to hamper business in any way because it seemed unpatriotic and almost communistic.
 * They started to support republicans who embraced Laissez-faire policies.
 * Federal Reserve board kept interest rates low.
 * The problem faced was how to find a new market for all the the production that they created.
 * Farms suffered so they needed to advertize and take out loans.
 * Banks were making loans and stores extended credit to increase sales
 * Fredrick W. Taylor made the assembley line more efficient.
 * Increases in technology transportation new fuel sources that were cheap. Assembly line and mass production fo things, Electric power plants, interchangable parts.
 * Automobile production
 * Increased manufacturing of rubber, steel, glass, and plastic
 * Consumers therefore needed to buy oil for the cars to operate
 * Created more businness for smaller companies
 * New Businness Practices
 * Welfare Capitalism
 * Paid Vacations
 * Pensionss
 * Mass Production
 * Assembly Line
 * More Product
 * Lowered Costs for each product
 * More Jobs
 * Advertising
 * Advertising now used to convince people to buy goods
 * Increased Mass Consumption
 * Appealing packaging
 * Started a consumer based economy
 * first billboards
 * Government Policy
 * Laissez-Faire policy
 * Very do nothing, pro-businness
 * "If it ain't broke dont fix it"
 * Low intrest rates
 * Isolationism
 * No foriegn involvement
 * High Tariff
 * Civilian Life
 * People were spending more
 * New Technology
 * Electricity
 * Radio
 * Other modern appliances
 * Women started to work
 * Low unemployment rate

Nick G., Mike P. || Supporting Details/Key Terms:

Farming Government Technology Society
 * High prices and inflation
 * Productivity of farms and industry increased because of new tehnologies
 * Farm and labor income was dropping
 * Voters had now rejected once successful progressive beliefs of laissez-faire
 * The Federal Reserve Board had kept control of interest rates being low
 * Banks had made loans and also extended credit to increase sales
 * There was corruption
 * High Tariffs were issued
 * The economy turned from production to consumer orientated
 * Cost to live doubled
 * In the 1920s they wanted to help business and industry to be able to operate with maximum efficenicy
 * Automobiles allowed people to be free but people usually had to get loans
 * America had the lion's share of electricity, 40% of the world's wealth, and owned more cars than anyone else in the world
 * "Industry during this time was "reeling from cancellation" due to billions $ towards war contracts
 * Frederick W. Taylor pioneered to make sure the assembly line was successful
 * Americans were afraid of communists taking control
 * Cost to live doubled
 * After the war veterans were seeking for jobs
 * American headed straight into depression

ALL DONE BY OLIVIA MARCZYK (: ||