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Essay On Consumerism In The 1920s

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America had been a generally conservative nation with a population that avoided personal debt. However, this would all change during the decade known as “The Roaring Twenties.” This prosperous period embodied huge changes in the general lifestyle and culture of the American people as they embraced consumerism. However, during the 1920s the economy also faced numerous unfortunate events and unstable practices that would lead to one of the world’s worst economic crashes. There were many reasons for the economic downfall, including mass production and consumerism, excess credit and ‘playing’ the stock market, which led to the stock market crash in 1929.

Mass production during the 1920s fed the mass consumerism that had emerged among the American …show more content…

Their belief that the purchase of all these wonderful new items, which they could not afford, would improve their lives resulted in a massive increase in sales. The introduction of easily accessible consumer credit and installment plans enabled these purchases and resulted in a significant increase in consumer debt, along with an equally significant decrease in consumer savings. In reality, the people were buying goods they could not afford with money that was not theirs to spend. An example of American consumerism in the 1920s was the purchase of cars. During this period over 60% of Americans purchased their cars on …show more content…

This established the idea that people would become “self-reliant”. Individual success was encouraged and government intervention was to be kept minimal. People aspired to achieve these objectives, for example, earning respect, conquering individual goals and measuring success by gaining material status. Laissez Faire was a philosophy used by previous conservative US Presidents, which also promoted minimal government involvement. As America became more industrialised the system faced many problems. The lack of government participation in both of these theories is what led to the American government only coming to the realisation of an economic crisis when it was too

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