Credit Of The 1920 S - 894 Words

Credit In the 1920’s Unlimited money!Credit in the 1920’s was as unlimited money for people. More people were concerned about spending now and paying later. Americans became infatuated with credit. Most people were spending money they knew they couldn t pay off, this caused many Americans in the 1920’s to go into debt. Credit in the 1920’s vs the credit today has evolved , but the same selfishness overuse of it still remains.Americans in the 1920’s needed to be more educated in using credit. If they were less people would have gone into debt.This could have minimized the cause of the Great Depression. With the education of credit in the 1920’s people today will be less prone to conduct their mistakes, that leads to debt. Credit was born from Alfred Sloan, â€Å" He set up the nation s first national consumer credit agency in the 1919 to make his cars affordable†( Digital History). Sloan wanted to make money, sloan was convinced that Americans were willing to pay extra for luxury and prestige. Thus he he created credit so people would buy his cars, even if they were costly. With this new product many americans began to buy cars, clothes,furniture,household products,e.t.c. Pretty soon cars came a symbol of the new society forming in the 1920’s.†In that year, one American out of every 5 owned a car, compared to one out of every 37 English and out of every 40 French car owners†(Digital History). In other words Sloan didn’t care about lowering his price so that more people couldShow MoreRelatedThe Great Depression : The Worst Economic Slump1427 Words   |  6 Pagesextensive speculation of the 1920s. Underlining these two dominant influences was the republican government practises of the 1920’s under Harding, Coolidge and Hoover Governments. The Republican economic policies of the 1920 are contributed significantly to the Great Depression. Misdistribution of income existed on many levels within the US economy. Money was unevenly distributed between rich, middle class and poor, and between industry and agriculture. The 1920’s was an era of considerable growthRead MoreSimilarities And Differences Between The 1920s And 1950s908 Words   |  4 PagesThe 1920’s were a very important era in America for better or worse. There were many issues in relation to race and how people of different ethnic groups were treated. African American had a cultural rejuvenation that being the Harlem Renaissance. The advent of the Ford Model T change the way how people traveled. Many may say an era like the 1950’s were highly comparable. Race related issues were on a decline as America as whole sought to be more accepting and the oppressed started to speak out onRead More Causes Of The Great Depression Essay1699 Words   |  7 Pages  Ã‚  Ã‚  Ã‚  Ã‚  In 1929 the stock market crashed, triggering the worst depression eve r in U.S. history, which lasted for about a decade. During the 1920s, the unequal distribution of wealth and the stock market speculation combined to create an unstable economy by the end of the decade. The unequal distribution of the wealth had several outlets. Money was distributed between industry and agriculture within the U.S.; in social classes, between the rich and middle class; and lastly in world markets, between AmericaRead More Causes of the Great Depression Essay1143 Words   |  5 PagesCauses of the Great Depression Throughout the 1920’s, new industries and new methods of production led to prosperity in America. America was able to use its great supply of raw materials to produce steel, chemicals, glass, and machinery that became the foundation of an enormous boom in consumer goods (Samuelson, 2). Many US citizens invested on the stock market, speculating to make a quick profit. This great prosperity ended in October 1929. People began to fear that the boom was going toRead MoreThe American Dream And The Roaring Twenties1336 Words   |  6 PagesEnglish 11 9 March 2016 The American Dream and the Roaring Twenties The 1920’s was knows as the Roaring Twenties or the Jazz Age because of all the dramatic political and social change, more people lived in cities rather than farms, and the nation’s wealth doubled between 1920 and 1929. There were many new technological innovations and many factors that made the United States the place to be to find the â€Å"American Dream†. The 1920’s were known as the Roaring Twenties or The Jazz Age because of many thingsRead More The Great Depression Essay682 Words   |  3 Pagesgreatly unequal distribution of wealth throughout the 1920’s and the debts not paid back from WWI. nbsp;nbsp;nbsp;nbsp;nbsp;The distribution of wealth in the 1920’s, â€Å"roaring twenties,† was done with despair between the very wealthy and the lower classes, between industry and agriculture within the United States, between the U.S. and Europe. This imbalance of wealth created an unstable economy. The excessive assumption in the late 20’s kept the stock markets artificially high, which eventuallyRead MoreEssay about Roaring Twenties772 Words   |  4 Pages The Roaring Twenties The decade of 1920-1929 was a time of great change, reform, improvement, adjustment and alteration of everything Americans had come to rely on. In other words everything changed. Not one part of common life was unaffected. Exciting new events happened in sports, entertainment, science, politics, communication and transportation. It was the age of prohibition, it was the age of prosperity, and it was the age of downfall. The twenties were the age of everything. It has beenRead MoreRoaring Twenties Essay839 Words   |  4 PagesThe Roaring Twenties The decade of 1920-1929 was a time of great change, reform, improvement, adjustment and alteration of everything Americans had come to rely on. In other words everything changed. Not one part of common life was unaffected. Exciting new events happened in sports, entertainment, science, politics, communication and transportation. It was the age of prohibition, it was the age of prosperity, and it was the age of downfall. The twenties were the age of everything. It hasRead More The Evolution of the American Dream Essay1634 Words   |  7 PagesComparing the perspective of the American dream in the 1920’s to the American Dream in the 1940’s and present day seems to be a repeating cycle. The American dream is always evolving and changing. The American dream for present day is similar to the dream of the 1920’s. An Ideal of the American life is to conform to what our society has determined is success. Money, materialism and status had replaced the teachings of our founding fathers in the 1920’s. A return to family values and hard work found itsRead MoreEssay about The Roaring Twenties of the United States1474 Words   |  6 Pagesworld. In the 1920 ´s the United States economy was booming. This is a period of prosperity, when the country ´s economy is doing well and the people are sharing in it. This period was known as the roaring twenties ´. In this period many jobs were made more secure, many families had more to eat, electricity was widespread, many people had more leisure time and most had more money to spend. This essay will show why the United States economy boomed in the 1920 ´s. Foucault denied