POINTEXPLAINEXAMPLE UNEVEN DISTRIBUTION OF INCOME ALL U.S. CITIZENS DID NOT BENEFIT FROM THE ECONOMIC BOOM. REGIONAL VARIATIONS – AREAS WITH ‘NEW’ INDUSTRIES.

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Presentation transcript:

POINTEXPLAINEXAMPLE UNEVEN DISTRIBUTION OF INCOME ALL U.S. CITIZENS DID NOT BENEFIT FROM THE ECONOMIC BOOM. REGIONAL VARIATIONS – AREAS WITH ‘NEW’ INDUSTRIES (CARS, ELECTRICAL GOODS etc) GENERALLY DOING WELL (ILLINOIS, MICHIGAN, PENNSYLVANIA); AREAS WITH ‘OLD’ INDUSTRIES DOING BADLY (TEXTILES- NEW ENGLAND, COAL MINING – KENTUCKY, AGRICULTURE – MAINLY WEST & SOUTH). EVIDENCE – ‘PER CAPITA INCOMES IN 1929’ (COPY)

POINTEXPLAINEXAMPLE SAME GENDER VARIATIONS – WOMEN STILL EXPECTED TO MAINTAIN TRADITIONAL ROLES AND BE PAID LESS THAN MEN. EVIDENCE – 1930 ONLY 150 FEMALE DENTISTS AND 100 FEMALE ACCOUNTANTS IN WHOLE USA; 5% FEWER WOMEN RECEIVED A COLLEGE EDUCATION ETHNIC VARIATIONS – AFRICAN AMERICANS IN WORST-PAID JOBS IN WORST-PAID AREAS (10% LIVED IN SOUTH)

POINTEXPLAINEXAMPLE AGRICULTURE WAS DOING BADLY BECAUSE OF OVER- PRODUCTION BENEFITED FROM WW1 TRIED TO KEEP SAME LEVEL OF PRODUCTION RELIED ON LOANS DECLINE IN DEMAND FOR BARLEY AND WHEAT …. NUMBERS OF FARMS CLOSING DOWN…. POOR LIVING CONDITIONS ON FARMS…

POINTEXPLAINEXAMPLE GET-RICH – QUICK SCHEMES NOT ALWAYS SUCCESSFUL BANKING SYSTEM UNREGULATED CONFIDENCE IN THE BOOM LED TO MANY INVESTING IN UNREALISTIC OR FRAUDULENT VENTURES GOVT. POLICY OF LAISSEZ-FAIRE FLORIDA LAND BOOM… BUYING SHARES ‘ON THE MARGIN’… NUMBER OF SMALL BANKS… KNOCK-ON EFFECT IF STRUGGLING…