The Rise and Fall of 1920s Prosperity

The 1920s marked a transformative period in American consumerism and economic activity. Americans experienced increased wages and leisure time, leading to heightened consumer demand for various goods. This period saw the emergence of modern consumerism, characterized by continuous desire for new products, while manufacturers adapted their production methods and marketing strategies to meet growing demand.

Definition: Consumerism refers to a pattern of continuously desiring and purchasing new products.

Example: Manufacturers adopted Henry Ford's efficient production techniques and expanded their product lines to meet changing consumer preferences.

Highlight: Despite apparent prosperity, significant economic problems were developing beneath the surface, including struggling farmers, excessive consumer debt, and overproduction.

Vocabulary: Consumer demand refers to the willingness and ability of people to purchase goods and services.