Sunday, September 11, 2005
boom years 3
Republican policies practised from 1920 to 1932 also benefited the US economy. This was because the republican government had their set of policies which allowed businessman to have much freedom for their businesses.
Laissez Faire
The Republican's feel that they should not interfere with the everyday lives of the people and leave businessmen alone to do their job. This brought about prosperity.
Tariffs
Tariffs were imposed on goods that were exported to the USA. This was to protect the local US industries from competition. For example, Harding (1922) introduced the Fordney McCumber tariff that imposed taxes on imported food. This allowed the US industry to grow more radidly.
Low taxation
The Republicans tried to keep taxes as low as possible. This resulted in Americans spending more on American goods and the businessmen will invest more on their businesses and the industry will do well. This also benefited the working class of people.
Trusts
The Republicans allowed the development of trusts. Democrats feel that it is unhealthy for men such as Carnegie (steel) and Rockefeller (oil) to have almost complete control of the industry. However, the Republicans felt the "captains of the industry" knew better than them on what to do than the politicians for the benefit of the US economy.
ROCKEFELLER ROCKS! I always forget how to spell "Carnegie".
There are a few more factors causing the economic boom of the USA in the 1920s but I think i shan't state it here. It will make my blog become educational. Ok. I am just dumb...
posted by wilson at 16:40 :: comment link here
boom years 2
Another cause of the boom years was World War One.
World War One gave USA the opportunity to lend money, sell ammunition, food, weapons to the European countries.
USA could also export goods to the European controlled countries when the European powers fought the war in France.
As Germany was fighting the war, their production of chemical products stopped in their tracks. Therefore USA had the advantage to take over Germany's production of plastics, explosives and other chemicals.
posted by wilson at 16:29 :: comment link here
boom years (1)
ok lets start with history. the boom years. Ignore this if you hate this method of studying... haha
Causes of the boom years:
1.Industrial strength
The USA is a country with a vast amount of resources such as oil, coal, textile and iron. USA did not need to import the raw materials to build products. They had it redily. This caused the market to grow and become larger. Ever since the 1860s, the Amercian industry had been growing vigorously. It had massive steel industries and was leading the oil industries and film industries in the world. They were also good in developing new technology such as motor cars, telephones and electric lighting. The USA companies were selling their products to many countries. This strong industrial strength was hence helpful to the US economy.
posted by wilson at 15:42 :: comment link here
Hols are over
All good things must come to an end. Argh!!! It's Sunday. What have I done? I feel sooooo guilty. So many subjects to keep up with... Studying sucks. I m dead. I feel so dead. Bang. You can just shoot me down.
I am so tired. fatigue.
I know I am not the only one. Who likes to study. Maybe I should post some history facts here so I can kill 2 birds with one stone- study and blog. Watch this space.
posted by wilson at 15:28 :: comment link here
New
Tada! Finally a new blog to replace the old pathetic ones. Just got that inspiration from somewhere to start a new blog. I do hope that this new blog won't become another white elephant like the old ones.
posted by wilson at 00:24 :: comment link here