3 Answers | Add Yours
Politically, the major generalization that can be made about the US during the 1920s is that it was a very conservative time. It is said that this was a time when the US pulled back from the Progressive Era and had a "return to normalcy" where the government stopped doing much of anything. It is also said to be a time when government was extremely pro-business. This is the major political generalization about the US during the 1920s.
Keep in mind we have very limited space to address your question, and nowhere near enough space to provide 12 generalizations and 60 facts, so I have edited your question down to reflect that. I can get you started on one and perhaps others will chime in.
Economically, the 1920s were America's greatest economic experiment in unbridled capitalism. That is to say, three Republican Presidents during that time supported laissez-faire economic policies, where very few rules or restrictions were placed on how companies did business and how stocks were traded. It was, perhaps, as close to pure capitalism as we would ever get, at least on the economic scale of the 1920s. Taxes were very low, people could buy and sell large amounts of stock on margin, installment payments--the first form of credit and mortgages-- were being made by many Americans who relied on the good times to keep coming in order to maintain their new lifestyle.
Not only was it all legal, but such a hands off policy inevitably led to economic conditions which brought about the Great Depression.
We’ve answered 318,915 questions. We can answer yours, too.Ask a question