8. 1920's Prosperity
One of the great mysteries of the twentieth century is how the U.S. economy could have gone from a state of unprecedented prosperity in the 1920s to one of unprecedented failure in the 1930s. In the 1920s, jobs were plentiful, the economy was growing and the standard of living was rising. Between 1920 and 1929, home ownership had doubled, and most home-owning families enjoyed amenities, including electric lights and flush toilets, once regarded as luxuries. Sixty percent of all households had automobiles, up from 26 percent in 1920. More teenagers were attending high school; fewer were working full time. Leading political and economic figures of the day said that the United States appeared to have reached “a permanent plateau of peace and prosperity.”
1. How was the economy doing in the 1920's ? Give one example
expanding doing good
But by 1933 at least one fourth of the U.S. labor force was unemployed, and about the same percentage was working shorter hours, which reduced their incomes. Families were losing their homes, and many were going hungry. Adolescents who should have been in high school were riding around the country in freight cars, looking for work. Although 1933 marked the low point of what came to be called the Great Depression, the unemployment rate never dropped below 14 percent until 1941. A decade of hope had been succeeded by a decade of hopelessness.
2. By 1933 what was the state of the U.S. economy?
The U.S. was going through great depression
3. What were most teenagers doing?
riding around the country looking for work
What happened? The United States possessed the same productive resources in the 1930s as it had in the 1920s. The great factories and productive machinery that had raised living standards in the 1920s were still present in the 1930s. Workers still had the same skills and were willing to work just as hard as before, and farmers were producing more food than ever. How could life have become so miserable for so many Americans in such a short period of time?
4. What are living standards?
the degree of wealth and material comfort available to a person or community.
5. What are amenities?
service , resource , benefit , and system
1. How was the economy doing in the 1920's ? Give one example
expanding doing good
But by 1933 at least one fourth of the U.S. labor force was unemployed, and about the same percentage was working shorter hours, which reduced their incomes. Families were losing their homes, and many were going hungry. Adolescents who should have been in high school were riding around the country in freight cars, looking for work. Although 1933 marked the low point of what came to be called the Great Depression, the unemployment rate never dropped below 14 percent until 1941. A decade of hope had been succeeded by a decade of hopelessness.
2. By 1933 what was the state of the U.S. economy?
The U.S. was going through great depression
3. What were most teenagers doing?
riding around the country looking for work
What happened? The United States possessed the same productive resources in the 1930s as it had in the 1920s. The great factories and productive machinery that had raised living standards in the 1920s were still present in the 1930s. Workers still had the same skills and were willing to work just as hard as before, and farmers were producing more food than ever. How could life have become so miserable for so many Americans in such a short period of time?
4. What are living standards?
the degree of wealth and material comfort available to a person or community.
5. What are amenities?
service , resource , benefit , and system
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