American Economic Experience Between 1865 and 1928

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The 1920s were arguably the most significant decade in American history of economic experience between 1865 and 1928. Following the end of World War I, there was an excess of employees and machinery, which led to unemployment and produced significant goods sold worldwide. Generally, the period between 1918 and 1928 was the most prominent because it showed a progressive spirit in working conditions, innovation, manufacturing industries, and, most importantly, the rise of women in the nation’s economic progress.

The first period, 1918 and 1919, was significant because better working conditions characterized it. The federal government maintained its word and supported unionization, the eight-hour workday, and a decent wage for all employees. Due to this, union membership increased dramatically during the war, rising from 2.6 million in 1916 to 4.1 million in 1919.¹ Overall, American employees gained improved working conditions and were paid due to the nation’s involvement in the war.

The period leading to 1920 saw many challenges arise due to economic drawbacks. Despite better working conditions recorded by 1919, Americans’ financial gains were limited due to the high cost of living. While general prosperity increased throughout the war, business owners and companies benefited more from it than the existing workforce. Between 1917 and 1920, prices in the US rose by an average of 15–25% yearly.² Due to the greater cost of living during the war, individual purchasing power decreased.

The start of 1918 to 1926 was crucial because it was marked by women’s ascent in the country’s economic progress. The war gave women new opportunities, such as training for those who enlisted in the army. Eva Abbott was one of many new female employees on the Erie Railroad in 1918.³ The Women’s Land Army of America was one famous example of a group that took advantage of these new possibilities. Compared to 70,000 in 1910, over 100,000 women held jobs in various manufacturing businesses by 1920.⁴ Additionally, Big Bill Tilden won the national single’s championship every year from 1920 to 1925.⁵ Even though this period was marked by moderate development, it was noteworthy for two reasons: first, it peaked racism, and second, it was time to fight for human rights. Generally, women continued to benefit even during these difficult times.

The period between 1921 and 1928 was significant because it was characterized by a rapid increase in film and manufacturing industries and technological advancement. Charlie Chaplin’s films frequently played in many silent movies, including 1921’s The Kid.⁶ Additionally, the first talkie was released in New York in 1927, marking the beginning of the end for the silent film industry.⁷ By perfecting the assembly line, Ford’s invention revolutionized industrial production and allowed the firm to reduce the Model T price from $850 in 1908 to $300 in 1924.⁸ More than 23 million vehicles were on American highways by 1928.⁹ The automobile allowed Americans to travel and discover new areas, and the radio gave them news and pleasure.

Briefly, 1918 to 1928 were the most notable because they displayed a progressive spirit regarding working conditions, the rise of the manufacturing industry, and innovation. In addition, considerable economic advancement resulted from women’s increased voice, which was made feasible by suffrage laws and job opportunities. Possibly the most crucial economic decade in American history occurred during that time. Americans were prosperous in the context of their era, allowing them to forget the economic doldrums and concentrate on what they were doing at the time.

Bibliography

OpenStax. U.S. history by openstax (paperback version, b&w), 1^st ed. XanEdu Publishing Inc., 2014.

Footnotes

OpenStax, U.S. history by openstax (paperback version, b&w) (XanEdu Publishing Inc., 2014).
OpenStax, U. S. History.
OpenStax, U. S. History.
OpenStax, U. S. History.
OpenStax, U. S. History.
OpenStax, U. S. History.
OpenStax, U. S. History.
OpenStax, U. S. History.
OpenStax, U. S. History.

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American Economic Experience Between 1865 and 1928

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