What were some weaknesses in the economy of the 1920s?
1. Many lacked the capital necessary to limit production until prices rose. 2. They could not stop production if others did not or the oil would be pumped from under their lease.
What happened to the US economy during most of the 1920s?
The 1920s is the decade when America’s economy grew 42%. Mass production spread new consumer goods into every household. … The U.S. victory in World War I gave the country its first experience of being a global power. Soldiers returning home from Europe brought with them a new perspective, energy, and skills.
What were the 3 weaknesses in the US economy that led up to the Depression?
While the October 1929 stock market crash triggered the Great Depression, multiple factors turned it into a decade-long economic catastrophe. Overproduction, executive inaction, ill-timed tariffs, and an inexperienced Federal Reserve all contributed to the Great Depression.
What was America’s biggest problem in the 1920s?
Immigration, race, alcohol, evolution, gender politics, and sexual morality all became major cultural battlefields during the 1920s. Wets battled drys, religious modernists battled religious fundamentalists, and urban ethnics battled the Ku Klux Klan.