In the 1920s varieties of people struggled due to the roaring twenties, Great Depression, and old money but on the other hand others didn’t struggle through these times especially if they are financially wealthy with a business or job site, etc.. During the 1920s there was a low class, middle class, and upper class, like there is today. The low class struggled the most out of them all, the middle class decently struggled not as bad as the low class, then the upper class didn’t have quite much any problems as long as they were not struggling. Everyone at some point was struggling either way, it doesn’t matter if they were the low class or upper class. Most of the financially wealthy individuals inherited that wealth from their parents, and …show more content…
Rothbard, “The wall street collapse of September - October 1929 and the Great Depression followed it were among the most important events of the twentieth century”. The Great Depression made lots of tragic events happen. It wasn’t only just the Depression but it had an effect that took place of bad situation happening one after another. But “the wall street plunge itself was not remarkable at any rate to begin with”, this means that it wasn’t at a good point during this time, and didn’t make the collapse so precious to them. These times were terrible because of Economic Prosperity it made one out of four farms sold to meet financial obligations, while many farms were migrating to the urban areas since there was a distinctive cultural edge during the 1920s. The U.S also gained dominance in the world finance as stated above. It was over money and power, since these all took place during the 1920s so many people were struggling. Such as people in the low class, and middle class while the people in the high class that most likely inherited their wealth by their parents, etc.. The main struggles involved the low classes, and middle class. The rich didn’t really even struggle at all whatsoever, all the crashes, and business problems happened made them upset but didn’t get rid of how financially wealthy they …show more content…
Old money is inherited money that has been maintained for many generations, which the upper class whose wealth separates them from the lower class. New money is wealthy requires in one’s generation. Thus being said, it lacks the worldly experience and the system of values of old money of inherited wealth, and claims to the inferiority of those with new money to those with old money. Money in the 1920s was quite harsh among certain classes, most of those whom inherited their money had no problems but the rest most likely did. For instance, Linda Alchin said “The United States moved from the war economy and businesses moved on from supplying Military needs to making commercial products. After an initial recession, middle Americans moved to a period of economic expansion and prosperity.” She means by this is that they didn’t care much about the Military needs and wanted to focus on products for money instead of the war economy which shows how they were back then with money, which made Americans move. There was multiple situations that the world was put through during these times. Tom Morain stated, “In 1920, the government ended it guarantees. Farm prices were allowed to drop back to normal prices, determined by supply and demand. In this case, there was big supplies. Farmers continued to produce at high levels and soon supplies appeared.” Which means that farmers were growing in a constant