The 1920s exemplified a new era of wealth, prosperity, and change. In the 1920’s the problems that led to the Great Depression were dispersed over a time of maldistribution of wealth, and what was called a bull market. We may watch the Gatsby movie and be astounded by the sheer volume of cocktails and canapés on the menu; the champagne fountains, the sheer excess. After World War I in 1918, the United States underwent an economic boom that would last until 1929 and change the face of American society. Flashy neon signs, introduced in 1923, tried to entice the passing motorist into stopping at an establishment. Four definable institutions created the money in use during the 1920s: the gold standard, the U.S. Treasury, the Federal Reserve System of 12 regional banks and the Federal Reserve Board in Washington, and the commercial banking system of 20,000-odd banks. New ways of life, including the flapper … Life would never be the same. Note the massive spike during the 1920s, up to approximately 49%. Many studies that do compare over time start later, for example in the 1920s. What’s clear, however, is that both periods are marked by extreme wealth gaps. Taking advantage of the growing film and radio entertainment industries, advertisers started campaigns that encouraged people to spend beyond their means or comfort level. Statistics: The American Economy during the 1920s | Cars on the Road 1919 6.7 million 1929 23 million Percentage of Households with Radios 1925 19 percent (5,000,000 homes) 1929 35 to 40 percent Sales of Radios 1922 $60 million 1929 $842.6 million Wage Levels and the Price of a Ford Model T Average Earnings Price of a Model T 1912 $592 $600 1914 $627 $490 1916 $708 $360 1924 $1,303 $290 … A decade like no other, the Roaring 20s saw some of America's wealthiest entrepreneurs rise to prominence and amass enormous wealth. Many bought with the intention of immediately selling the land and gaining the kind of instant wealth that seemed, during the 1920s, to be within everybody's reach. Prohibition & Alcohol in the 1920s Whether you’re headed to the in-laws or out to a club this New Year’s Eve, chances are, alcohol will be on the menu. Here are the 17 richest men and women of the Jazz Age – who’d all be billionaires in today’s money.  During the Progressive Era (Pre-1920 on this graph), the wealth gap was large, but nowhere as large as in the "Roaring" 20s. A bull market is a stock market that is based on speculation. For the first time, more Americans lived in cities than on farms. Sources: Daily Life in the United States, 1920-1940 by David E. Kyvig; The 1920s by Kathleen Drowne and Patrick Huber The 1920s and the Foundations of Today Essay examples 1578 Words | 7 Pages. In the 1920s, people pretended that they could afford these things and more. The percent of the monetary wealth owned by the top 10% of U.S. citizens from 1910 to 2010. These institutions were not created equal, however. The 1920s were a time of social changes, cultural conflicts, and political change. So ran a Republican slogan during Herbert Hoover's 1928 presidential campaign—the phrase that has come to symbolize the unparalleled prosperity of the 1920s. In the 1920s thousand of cafes, BBQ joints, and ice cream stands sprung up. Between the late 1890’s, after the panic of 1893, and the late 1920’s, the American people led good lives in which most prospered.
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