There’s a reason for that, and it’s got nothing to do with the Great Depression. The “Roaring Twenties” were the “New” Twenties. In fact, the term itself comes from “Roaring 20s.” It was considered a “boom” by investors and politicians and was “booming” economically by both of those terms. The most important period in the 20th century was the “Roaring Twenties” period.
I’ve always been very skeptical of how a financial or political crisis can be a cause of a specific cause. If we think that something is a cause of the “Roaring Twenties,” then it isn’t a cause of the Depression. But that’s what the term “Roaring Twenties” makes us think of, and it’s not entirely wrong, but it’s not the correct way to understand the cause of that very well.
So how did it come that “Roaring Twenties” became a common phrase? Was it the result of the fact that it was associated with the economic boom of the 1920s, or was it something else?
Let’s look a little more closely. In this case, the name “Roaring Twenties” comes not from the economic boom in the 1920s but from what it came to mean to American youth in the late 1920s. A big part of that was the war. Even though the economy wasn’t as far behind as it would have been had Roosevelt not taken the country off the gold standard (which had done a lot of good for the country), it was still not as prosperous as the American youth had imagined. Youth that grew up during the 1920s were not used to seeing that they could “buy” any decent car or home or a pair of boots or a pair of jeans. There were no clothes stores, so these young people looked to the factories and saw the factories were making shoes, moccasins, clothes, and other consumer goods and were then sending all their “earnings” home. The same was true of the factories’ products: The American youth, in the 1920s, were in a terrible state of debt, but when the factories were producing, they were sending the young people money back to their “own” economies. And that in turn boosted the country’s GDP. And it all started with this War.
When we think of “Roaring Twenties” we have this idea that a lot of these young people grew
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