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What role did consumers play in slowing the economy down in the 1920s?
Wiki User
∙ 8y ago
During and after WWI, America experienced rapid growth due to the fact that pretty much the rest of the western civilization was demolished. American businesses were selling to Europe, and obviously earned a lot of profit. There was a lot of opportunity, and people wanted to spend their extra money on fun things.
Advertisers and Marketers capitalized on that, and started a shift into more consumeristic thinking. With the advent of electricity, tons of home appliances were created and marketed, emphasizing the "buy now and pay later" approach. With all of the kitchen appliances, the era of domesticity ended, and women were free to go do other things such as have jobs or pursue fun activities.
The economy thrived, money was created out of nothing (compound interest, etc), which lead to a bubble and eventual collapse in 1929.
Hope this helps! :)
Wiki User
∙ 13y ago
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