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The s have been called the Roaring '20s and for good reason. Not only was American culture 'roaring' in terms of style and social trends, but the economy was 'roaring' as well. The decade was a time of tremendous prosperity. Following the end of World War I, the industrial might of the United States was unleashed for domestic, peaceful purposes.

Within a few short years, an economic shift took place as the economy transitioned from wartime production to peacetime production. New technologies like the automobile, household appliances, and other mass-produced products led to a vibrant consumer culture, stimulating economic growth. Furthermore, under the administration of three consecutive Republican presidents, the government adopted fiscally conservative policies that fueled private business.

Consumerism can be thought of as the culture surrounding the buying and selling of products. Consumerism came into its own throughout the s as a result of mass production, new products on the market, and improved advertising techniques.

With more leisure time available and money to spend, Americans were eager to own the latest items. Advertisers used this to their advantage, often stressing luxury and convenience. Through mediums like radio and print advertisements, consumer culture was more visible than ever before. By the s, the catalog, nicknamed the consumer's bible, had become enormously popular. It completely revolutionized how people purchased items.

The catalog contained literally hundreds of pages featuring products like sewing machines, bicycles, clothing, radios, and just about everything else imaginable.

Installment buyingor buying on credit, was also popular, allowing families to purchase large items like automobiles or refrigerators and pay them off gradually over a period of time. Large department stores also became popular during this time. Nicknamed Silent Cal because he was a man of few words, Calvin Coolidge was president of the United States from His fiscally conservative policies helped usher in the era of 'Coolidge Prosperity.

He also talked incessantly about the virtue of thrift. Coolidge deserves considerable credit for the economic success of the s. With money to invest, many Americans began buying stock.

This was the thing to do in the s. It was seen as modern: And while it carried risks, it was generally seen as a sound investment. As the economy continued to grow throughout the decade, some people came to see investing in stock as a foolproof way to get rich quick. In the stock market was booming, and buying on margin became commonplace.

Crash

Buying on margin was a risky practice in which the buyer would typically borrow money from their broker in order to pay for the stock. Although there were subtle signs that the stock market could not continue to soar indefinitely, many people ignored these signs and continued with their risky, speculative stock market strategies. The prosperity of the s came to crashing halt in the last year of the decade. In September of that year, the stock market began to show signs of stagnation.

Then, in October, the bottom fell out as people panicked and began selling out their stock. On October 29,a day known as Black Tuesdaysome 16 million shares were traded on the New York Stock Exchange, leading to billions of dollars instantly lost. Almost overnight, some people went from being millionaires to having virtually nothing. There were even reports of bankers committing suicide by leaping from their high-rise offices. Sadly, the stock market crash of was only the beginning. For the next ten years Americans suffered through the Great Depression, one of the darkest times in American history.

Following the end of the First World War, an economic shift took place as America's industrial might was unleashed for peacetime production. By the early s, the economy was booming. Advances in technology, mass production, and new advertising methods led to a vibrant consumer culture.

Advertising came into its own throughout the s. Installment buying, or buying on credit, allowed Americans to purchase expensive items like automobiles and refrigerators. President Calvin Coolidge's fiscally conservative policies ushered in the era of Coolidge Prosperity. Investing in the stock market became popular throughout the s, and many Americans practiced the risky, speculative strategy of buying on margin, meaning they borrowed money from a broker to pay for their stock.

On Black Tuesday, October 29,investors panicked and sold out their stock, leading to the stock market crash and, ultimately, the Great Depression. To unlock this lesson you must be a Study.

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Stock Market Crash

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The Roaring Economy of the s The s have been called the Roaring '20s and for good reason. Consumerism in the s Consumerism can be thought of as the culture surrounding the buying and selling of products. Coolidge Prosperity Nicknamed Silent Cal because he was a man of few words, Calvin Coolidge was president of the United States from The Stock Market With money to invest, many Americans began buying stock.

Start a FREE trial No obligation, cancel anytime. Want to learn more? Select a subject to preview related courses: The Stock Market Crash The prosperity of the s came to crashing halt in the last year of the decade. Lesson Summary Let's review. Learning Outcomes By working your way through this lesson, you should be able to accomplish the following: Tell why, economically, the era was called 'The Roaring Twenties' Describe consumerism and how it defined the s Explain the causes of the economic stock market collapse of Unlock Your Education See for yourself why 10 million people use Study.

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You are viewing lesson Lesson 2 in chapter 5 of the course:. US History II 14 chapters lessons 10 flashcard sets. Reconstruction and the Gilded Age The Roaring 20s The US in World War ll The Cold War Protests, Activism and Civil The Rise of Political Conservatism Studying for History Online Textbook Help College World History Textbook Holt World History - Human Legacy: Online Textbook Help French Revolution Study Guide.

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