Technological Advances From 1925-1950
This country has seen some of the most dramatic changes in technology, the economy, and global dominance to ever occur in America’s history. Times were good during the 1920s as the economy was booming and unemployment was low. However, the market was being overinflated and the pace of economic growth could not be sustained and in 1929 the stock market started dropping significantly. The entire country turned into a panic and the whole economy was being dragged down while unemployment skyrocketed. During the 1930s, America went through the worst depression in recent history. Lawmakers scrambled to figure out how to solve this …show more content…
The lives of ordinary Americans were impacted greatly by the developments of this time period. First of all, more Americans having access to power improved living standards greatly. The ability to use some of the simplest things such as a light bulb and a radio became a great step in moving the country to the 21st century. Inventions such as the tractor, combine, and milking machine allowed farmers to be more efficient in their operations and reduce labor costs. Producing and harvesting crops at lower costs made it able to lower food prices so the average consumer didn’t have to spend as much on food. The military equipment developed helped this country to have the world’s most dominant military. Having the most powerful military allowed America to have more power in future negotiations with countries.
The business cycle during this time period was in a steep depression during most of this time period. Many of the government-funded advances may not have happened if the Great Depression never occurred. This is because the programs were aimed at reducing unemployment and in return improved the country’s technological norm. Although the government arguably made the depression worse in many cases -such as increased taxes- there were some improvements made to the lives of many Americans.
My personal views on this time period are that innovation is what drives economic growth and