Inequalities of Wealth & a Divided Society
- Created by: nasifahuddin04
- Created on: 21-04-20 20:12
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- Inequalities of Wealth & a Divided Society
- American Attitudes Towards Wealth in the 1920s
- attitude/ state of mind is key to american society
- belief of prosperity
- in the 1920s spending was seen as s good quality
- 1920s: many americans were spending
- billionaires and industrialists were benefiting from boom
- over half the population including African Americans & recent immigrants remained on breadline
- Farmers
- large group in american society who didn't prosper in 1920s
- total farm income dropped from $22 billion in 1919 to $13 billion in 1928- main problem was overproduction
- Workers in Old Industries
- workers in old industries (coal, leather, textiles, etc.) didn't prosper
- coal industries suffered from competition of new industries (oil, electricity, etc.)
- leather & textiles protected from foreign competition but not domestic- suffered from development of new man-made materials & struggled to compete with cheap labour in southern states
- The Unemployed and the Poor
- growth in industry didn't create many new jobs- were growing by electrifying/ mechanising production
- same number (about 5%) unemployed at peak of boom in 1929 as in 1920
- millions of unemployed americans
- unemployed & poor damaged american industry
- 1920s boom = consumer-led boom= normal families buying things for their home
- lots of families = poor so couldn't buy luxury goods= demands fell
- Republican policy remained not to interfere included with doing nothing about the poor and unemployed
- American Attitudes Towards Wealth in the 1920s
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