Economy
The Roaring Twenties was a decade of great economic growth and widespread prosperity driven by government growth policies, a boom in construction, and the rapid growth of consumer goods such as automobiles. The economy of the United States, which had successfully transitioned from a wartime economy to a peacetime economy, boomed, although there were sectors that were stagnant, especially farming and mining. The United States augmented its standing as one of the richest countries in the world, its industry aligned to mass production and its society acculturated into consumerism. European economies had a more difficult readjustment and began to flourish about 1924.
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Famous quotes containing the word economy:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)