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 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