Summary Cambridge IGCSE Modern World History "The Boom-USA 1920s"
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History
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Basic Cycle
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Cambridge IGCSE Modern World History
This document includes information about "The Boom" and the factors behind it, as well as information about entertainment, unemployment, problems in farming and traditional industries, morals, and the car; in the 1920s. The summary was made with information taken from the "Cambridge IGCSE Modern ...
The Boom is the name given to the dynamic growth of the American economy in
the 1920s.
● American businesses grew quicklier than ever before.
● Faster and cheaper ways for making goods.
● Production went up, prices went down, ordinary people bought more
households than before. Millions of fridges, cars, nylon stockings were sold.
● Rapidly growing cities, many people bought new houses.
● Money to spare → spent more on leisure; music, radio, cinema, sport→
booming
Factors behind the boom
Industrial Strength
USA→ a vast country rich in natural resources.
Growing population, most of it living in towns & cities.
Working on industries or commerce→ higher wages than farming
Most USA companies didn’t need to export, and had access to raw materials in the country.
By the time of WWI→USA led the world in most areas of industry. Massive steel, coal and
textile industries. Leading oil producer. Chemical industry growing fast. USA’s new film
industry led the world. They were not selling just inside the US, but in Europe, Latin America
and the Far East. American agriculture→most efficient and productive in the world→Farmers
producing more than they could sell→ serious problem; mass production.
First World War
Americans tried to stay out of the fighting in WWI. They lent money to the Allies, sold arms
and munitions to Britain and France, and massive amounts of foodstuff. These trades gave
American industry a boost. American exports increased during the war.
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