Immediately after World War I, America went through an economic downturn but quickly recovered. In fact, Americans had never had so much money or so much free time. New advances in technology meant that products could be made more quickly and cheaply than ever before. In 1927, the U.S. dollar was worth one-third more than it had been worth in 1914.
Questions and Answers
Question: What would happen if people had bought everything they needed?
Answer: That’s exactly what did happen. Americans had purchased all the furniture, appliances, and home goods they needed, but factories kept on making more items. Soon these items began piling up. Factories weren’t selling goods so they weren’t making money. When they didn’t make money, they couldn’t pay their employees. When the employees were laid off, they couldn’t pay back their debts.
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Declan, Tobin. " Facts for Kids about The American Economy after World War I ." American History for Kids, Aug 2021. Web. 31 Aug 2021. < https://www.americanhistoryforkids.com/economyafter-world-war/ >.
Tobin, Declan. (2021). Facts for Kids about The American Economy after World War I. American History for Kids. Retrieved from https://www.americanhistoryforkids.com/economyafter-world-war/