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This caused the economic prosperity of America to boom and by the second half of the decade, known as the 'Golden Twenties', America had become a tinderbox of affluence with its reputation as the most modern and wealthiest country in the world secured. Unfortunately, overconfidence and reckless speculation caused this bubble to burst by the end of the decade leading to the Great Depression. The roaring twenties, in other wards, was demarcated by unprecedented heights plunging into unprecedented lows.
Other economic policies that encouraged increased consumer spending and economic growth resulted from Harding's Emergency Tariff in 1921 and the Forney-McCumber Tariff of 1922 where reduced national debt, reduced taxes (particularly on the wealthy), and restricted immigration led to the 'boom' in the Coolidge years.
Mass production also spurred the country's economy making previous luxuries such as the automobile accessible to the 'common' American. Automobiles introduced highways and urban infrastructure. Surplus money encouraged consumerism and wild spending and the finance and insurance industries doubled and tripled in size.
This was the decade, too, when the skyscrapers were built with Canada and the USA racing against each toehr to see which could penetrate the sky the highest. The USA won with its Chrysler and Empire State Buildings. The modern white-collar job became the pattern of the age.
Allen, Frederick Lewis. Only Yesterday:An Informal History of the Nineteen-Twenties. Retrieved on12/21/2011
Joseph A. Schumpeter, "The Decade of the Twenties", American Economic Review vol. 36, No. 2, (May, 1946)
Kallen, Stuart A. The Roaring Twenties (2001) Greenhaven Press, USA[continue]
"The Political 'social Climate U S 1920s Brought Roar 20's How Characterize Economy 1920's What Made Roar Role Government Play Time" (2011, December 21) Retrieved August 31, 2015, from http://www.paperdue.com/essay/the-political-social-climate-u-s-1920s-53430
"The Political 'social Climate U S 1920s Brought Roar 20's How Characterize Economy 1920's What Made Roar Role Government Play Time" 21 December 2011. Web.31 August. 2015. <http://www.paperdue.com/essay/the-political-social-climate-u-s-1920s-53430>
"The Political 'social Climate U S 1920s Brought Roar 20's How Characterize Economy 1920's What Made Roar Role Government Play Time", 21 December 2011, Accessed.31 August. 2015, http://www.paperdue.com/essay/the-political-social-climate-u-s-1920s-53430