What Groups benefited/didn't benefit from the Economy in the 1920's. I tried wikipedia and various websites all day,but no help. Can anyone answer this question without giving me links? I would really appreciate it!
n the 1920's there were many patent submissions so patent attorneys did a lot of business. Henry Ford used his buying power to set up discount grocery stores for his employees. With increased incomes, those in urban areas profited more than those in rural areas. Many people bought on credit and at first there were no credit card processing fees.
Even in the economy of today, we can readily see what happens when people buy on the installment plan and overspend. Also, the impact of the end of World War I was beneficial to the economy.
However in the southern states, the African Americans had poor wages and the KKK made their misery worse. Even in the cities, many black families lived in ghettoes. Also the share croppers had to rent the land they farmed and when they could not pay, they were evicted.
Sra
Thank you so much!
Certainly! I can help you without giving you any links.
In the 1920s, there were certain groups that benefited from the economy, while others did not. I'll break it down for you.
Groups that benefited from the economy in the 1920s:
1. Business owners: The 1920s experienced economic growth and prosperity, known as the "Roaring Twenties." Business owners saw increased profits and expansion opportunities, particularly in industries like automobiles, manufacturing, and construction.
2. Stock market investors: The stock market experienced a significant boom during this time, leading to substantial gains for investors who held stocks.
3. Urban workers: As industries grew, urban workers saw increased job opportunities, higher wages, and improved living standards.
4. Middle-class consumers: The availability of consumer goods, such as cars, radios, and household appliances, increased during the 1920s. The middle class benefited from these products and experienced improvements in their quality of life.
Groups that didn't benefit from the economy in the 1920s:
1. Farmers: Agricultural prices declined during this period, leading to financial struggles for farmers. Overproduction, combined with falling demand and high debt, created a crisis in the agricultural sector.
2. Low-skilled laborers: While urban workers generally fared well, low-skilled laborers experienced limited employment opportunities and stagnant wages.
3. African Americans and immigrants: Discrimination and prejudice limited the economic opportunities available to these groups. They faced segregation, exclusion, and lower wages compared to their white counterparts.
It is important to note that economic conditions can vary among individuals within a group, and the impacts can be nuanced. Nonetheless, this overview should provide you with a general understanding of the groups that benefited or did not benefit from the economy in the 1920s.