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Consumerism in the 1920's
Transcript
Why it was significant
- Allowed people to buy new products without having to pay a lot of money at the time
- Opened up a world of advertising and improved products
Negative effects
- Increased amount of debt
- Debt led to the stock market crash
- Companies lost money
- People lost their jobs and couldn't continue paying for products they bought
Installment plan
- People could buy goods without having to put down very much money
- This let people buy things they couldn't afford
Increase of income
- It's the same as the financial bubble in 2008
- Time saving and savings in cost
- In 1850 the national annual income per person was $95
- Supported advertisers and against economists
- In 1918 income had risen to $586
- Average income per person for Americans in 1929 was $750
New products
- In 1929 the stock market crashed
Advertising
- Polygraph
- Advertisers targeted stay at home wives and moms
- Made people think they had to have their product
- Hair dryer
- Made the product sound much better than it was
- Radio
- Washing machine
- Used well known and liked people to recommend their products
Consumerism in the 1920's
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