The economy and stock market were booming in the 1920s. The stock market made everyday people millionaires as businesses grew and grew. Eventually, though, this all came to an end as the stock market crashed due to inflated businesses. Many people lost everything in the market, and those who didn't lost it in the banks that lost people's money.
Stockbrokers During the Explosion of the Stock Market
Stockbrokers were one of the most wealthy Americans during the booming stock market
Stockbrokers After the Stock Market Crashed
Stockbrokers quickly became one of the poorest groups, as they lost everything with the crash
Business Owners Before the Crash
Business owners quickly became rich as America became an economic leader
Business Owners After the Crash
Business owners became as poor as everyone else as businesses failed
Despite America becoming an economic leader with a booming stock market, the economy quickly fell after the crash. Business leaders and stockbrokers went from being the wealthiest Americans to being hit by the crash the hardest. People were unable to pay back their debts to stockbrokers, and stockbrokers quickly lost everything they had ever owned. Business leaders were inflated by credit and money that never existed. After they spent money, they really didn’t have that much because most of the stocks were just bought on credit, money that never existed. When the market crashed, business owners had none of the money that was claimed to be in their possession.
There was definitely change within the economy between the 1920s and 30s. Stockbrokers went from being the richest Americans to losing everything. This was the same with business owners whose businesses were inflated with credit.
The government had a very minimum role in business in the 1920s. Republican presidents heavily believed in the Laissez-Faire and kept the government out of businesses. This all changed, however, when people needed the government's help.
Businesses Owners During the Booming Economy
Business were extremely healthy and had lots of money. America's economy was booming without the government interfering
Businesses During the Great Depression
Government should have had a hand in business, as inflated businesses quickly fell. Even business owners had to go to free soup kitchens
Farmers Before the Crash and Dust Bowl
Farmers overproduced from WWII and received no help from the government. This forced many farms into foreclosure
Farmers During Depression and Dust Bowl
As farmers were hit by the depression and Dust Bowl, FDR stepped in to help poor farmers
America’s leaders had a certain view about government and business separation in the 1920s. They believed this view would lead to a healthier and stronger economy. These views quickly carried over to the farming industry, as government ignored the cries of suffering farmers. Republican presidents, like Hoover, continued to follow these philosophies until the economic crash. President Roosevelt then stepped in with his New Deal programs. He eliminated the Laissez-Faire, and implemented programs to assist farmers suffering from the Dust Bowl and Great Depression. These programs were made to prevent another Great Depression from happening by having government have a hand in business. Farmers were grateful as New Deal programs greatly helped their struggles.
The government's role in people's lives drastically changed. The government went from completely ignoring farmers and keeping their hands out of businesses to helping farmers and regulating most business through FDR.
Home life changed for many in the 1920s. Modern appliances made house work easy and fast, leaving more time for people to enjoy themselves. The crash in the 1930s, however, forced people to leave their modern comforts and work again.
Woman Enjoying the 1920s' Opportunities
Modern conveniences made life and work much easier for woman
Woman Back to Work
Woman had to return to even harder work to support their families
Woman were positively affected in the 1920s. They went from working all the time in their homes to having extra time to enjoy themselves. With the use of modern conveniences, woman could do the work they usually did much faster and easier. This left much more time to enjoy themselves. The crash, however, left families in need of money, which meant woman would have to pitch in to help. Woman were required to work in factory or other jobs in order to make money for their families. They had to work long hours, and had to sell all of their appliances, which meant they had to do house work as well. This left no time for woman to enjoy themselves.
People got used to the good life of having free time. After the crash, people had to go back to working to support their families.
Modern conveniences also gave people more time to enjoy themselves. This meant they could get their housework done early and then have time to enjoy themselves.
Woman Enjoyed the 1920s
Woman got their housework done quickly, which lead to more free time
Woman Left With No Free Time
Woman had to work to assist their families, with no free time to spare
Woman had lots of time on their hands in the 1920s. Modern conveniences gave them lots of free time to do whatever they wanted. Many women found themselves enjoying the freedom in speakeasies and other places that they enjoyed. They were maybe having the most fun in the 1920s. As their husbands worked, they finished housework early, and had fun. This all changed in the 1930s. After families lost everything, woman were required to help out and work in factories and other jobs with long hours. All of their free time disappeared as they had to work to support their families.
There was lots of change with woman's leisure time. They went from having lots of time to nothing in a quick span of time.
The transition from the 1920s, a booming economy, to the 1930s, America's greatest economic crash, was full of change. Government role went from little to nothing to helping it's people and having a hand in business. People went from the easy life with modern appliances to having to work regular, long hour everyday, just to get something to eat. The early 1900s era was a time of great change for all Americans.