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Roaring Twenties Business Analysis

539 Words3 Pages

Business in the United States changed dramatically in the “Roaring Twenties”. It was a period of seemingly endless growth. Foundations of the consumer economy we have today were placed during this period. Major labor-saving appliances and automobiles allowed more Americans to participate in leisure activities. The notion of advertising, trying to influence consumer’s actions, was born. The government promoted big business and gave it nearly everything it wanted. All of the factors needed for a booming economy were in place, leading many to proclaim that America had unlocked the secret to endless prosperity (Foner 775). The rise of the automobile represented the changes in the American economy at that time. Large corporations such as Ford and General Motors dominated the production of the automobile, stifling the competition. Production tripled from 1.5 million to 4.8 million automobiles in the 1920’s (Foner 771). The automobile was so affordable that half of American families owned one by 1929 (Foner 771). This new technology enabled people to live farther from their place of work and saved enormous amounts of traveling time. Many sectors of the economy were vitalized by the rise of the automobile, including oil, rubber, steel, and …show more content…

People started to spend more money on themselves, reaping the benefits of new technology and mass production. Corporations started to experiment with advertising, attempting to influence public perceptions of their “brand” or products (Foner 772). The utilization of newfound leisure caused extensive changes to the future of business (Hunt 10). The new standard of living became essential to the American people, representing a shift from emphasis on politics to emphasis on consumption for the average citizen (Foner 779). Corporations freely gave credit to customers, and the idea of installment plans came about in this era (Foner

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