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Money

  • One of the elements that facilitated buying things was the introduction of hire-purchase whereby you put a deposit on an item that you wanted and paid installments on that item, with interest, so that you paid back more than the price for the item but did not have to make one payment in one go. Hire-purchase was easy to get and people got into debt without any real planning for the future.
  • In the 1920’s it just seemed to be the case that if you wanted something then you got it.
  • This was the money flow belief of John Maynard Keynes. If people were spending, then people had to be employed to make things. They get paid, spent their money and so the cycle continued.

(Taken from: Historylearningsite.co.uk)

prosperity and prestige
https://loc.getarchive.net/media/prosperity-at-home-prestige-abroad

DropDown Activity

Read and complete with the following words:

 ROADS - TELEPHONES - ECONOMY - INDUSTRY - GANGSTERS - CAPITALIST 

This expansive phase of the world led to a climate of euphoria and blind faith in the system.
Development of new production sectors, new energy sources, new work organization, capital concentrated in large corporations. 

A good example was the motor car . The 3 big producers were Ford, Chrysler and General Motors. A boom in the car industry came from Ford’s with the legendary Ford Model -T.

To cope with the new cars new were built which employed a lot of people. But not everybody was happy with cars. Critics referred to cars as “prostitution on wheels” as young couples courted in them and started to use the more powerful models as getaway cars after robberies. But cars were definitely here to stay.

Not only were cars popular. Radios (10 million sold by 1929), Hoover’s, fridge’s and sold in huge numbers.

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