Roaring 20 Dbq Essay

The “Roaring 20s” was a period of economic prosperity, which lasted from 1920 until the stock market crash on October 29, 1929 (Black Tuesday). It came just after the end of World War I in 1918, which resulted in a changing American identity, and concluded with Black Tuesday, which ushered in the era of the Great Depression. During this time period, the country also underwent a transition from Wilsonian progressivism to the laissez faire policies of Warren G. Harding, Calvin Coolidge, and Herbert C. Hoover. From 1917-1929, several factors contributed to the eventual stock market crash, including the government’s attitude toward unions and other labor groups, individual economic practices, and the agricultural crisis. From an outsider’s perspective,

Production became more effective with the implementation of fordism, scientific management, and the “American Plan” in factories. While fordism was a system of assembly-line manufacturing and mass production, scientific management emphasized stopwatch efficiency to improve factory performance. However, the American Plan represented an entirely different approach to business. Document D is excerpted from an essay by Daniel Rodgers titled “The Progressive Era to the New Era, 1900-1929,” which examines the cultural shift of the 1920s. Rodgers explains that 1919 saw laborers striking against their employers and demanding the right to unionize. To defeat unionization, many factory owners resorted to the American Plan and insisted on an "open shop" in contrast to the mandatory union membership through the "closed shop.” Instead of granting the employees’ demands, the government punished hundreds of immigrants who allegedly posed a threat to the United States. The most notable were Nicola Sacco and

Harding, Coolidge, and Hoover were well known for their laissez faire (hands off) approach to the economy; they felt that the government should interfere in economic affairs as seldom as possible. All three men were considered “friends” of business and life seemed to improve for the average American. Document B, which is excerpted from Joshua Zeitz’s 2006 essay “The Roaring Twenties,” describes how factory employees worked fewer hours, but received an increase in their pay. He claims that by the 1920s, most Americans were financially stable and therefore had extra income to spend on luxury items, such as phonographs, radios, and automobiles. Thus, the modern consumer was born. With the invention of credit, or the ability of a customer to obtain goods or services before payment, consumers could purchase goods beyond their financial means. The stock market also became a popular method of making money, as investors tested their luck on Wall Street and hoped to earn a profit from various business schemes. Document G is excerpted from Harry J. Carman and Harold O. Syrett’s 1952 book A History of the American People and discusses the process of buying a stock on margin, or borrowing money from a broker to purchase stock. According to Carman and Syrett, since the buyer only payed for part of the stock, there was a risk that their stock could lose value quickly. The broker may then be