Economic Boom

• What was the Economic Boom?


  Period of rapid economic growth in USA during 1910 and 1929
• What long term factors caused the economic boom?

  Confidence in the US economy, Impact of WW1, Natural Resources, Cheap Labour Force.
• What are the short term factors that lead to the economic boom?

  Speculation, Availability of easy credit, Natural Resources, Technological Changes, Protection of home industries, Growth in Consumerism, Growth of stock market.
• Who was Warren Harding and what actions and policies did he take during his presidency?

  Warren Harding was the first president to oversee the economic boom. His key economic policies was 'Back to Normalcy' and he aimed to reduce the government interference in the economy that have grown in the war years. (1921 - 23)
• Who was Calvin Coolidge and what actions and policies did he take while he was president?

  Calvin Coolidge believed in Laissez-faire, and also believed that the government should have little interference with day to day affairs.
• Who was Herbert Hoover and what actions and policies did he take while he was president?

  Herbert Hoover believed in Rugged Individualism, as well as believed that people achieved their own successes through their own hard work.

  (1929 - 33)
• What was Protectionism?


  Trade policy that restricts imports. This made foreign goods more expensive and encouraged the sale of American goods. The Fordney - McCumber Tariff Act (1922) raised import duties to their highest ever level.