The Roaring Twenties



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As a result of economic growth and prosperity in the 1920’s, the social and cultural dynamics also changed. Extravagant parties were held in various places throughout the United States, showing proliferation of wealth in that period.




After World War I ended, the economy again started to grow. The early 1920’s (specifically, from 1920 to early 1929) was a period of sustained economic prosperity, known as the Roaring Twenties.It was an important period in the US history because of the new social and cultural dynamics, as well as the fact that US gained the standing of the richest country in the world.[2] It distanced itself from political upheaval in the other parts of the world. At the time, equality of opportunity became the governing principle of economics – all people have a chance at attaining wealth, but only those who worked hard will achieve it.[1] It was a period of economic boom, aided by mass production, mass marketing, and consumerism. These economic characteristics were depictions of classical liberalism – individuals make economic decisions, thereby determining what goods are produced and sold.






Reference

1."Evolution of Modern Liberalism." Perspectives on ideology. Edmonton, Alta.: Alberta Education, 2010. 201-202. Print.
2. Soule, George Henry. Prosperity decade; from war to depression: 1917-1929.. New York: Rinehart, 1947. Print.