This key facts covers Key Statistics — Use These as EVIDENCE within Wealth and Inequality for GCSE History. Revise Wealth and Inequality in America 1920-1973 for GCSE History with 14 exam-style questions and 15 flashcards. This topic appears less often, but it can still be a useful differentiator on mixed-topic papers. It is section 4 of 14 in this topic. Use this key facts to connect the idea to the wider topic before moving on to questions and flashcards.
📊 Key Statistics — Use These as EVIDENCE
Don't just memorise these numbers — know what each one PROVES:
| Statistic | What It PROVES |
|---|---|
| Top 5% owned 33% of wealth | Wealth was extremely concentrated → most people had little → weak consumer base |
| 60% of families below $2,000 poverty line | MAJORITY of Americans were poor → the "boom" passed most people by |
| 6 million rural Americans left the land | Farming crisis was severe enough to force mass migration |
| 600,000 farmers went bankrupt | The boom destroyed farming families despite hard work |
| Wheat: $2.50 → $1 per bushel | 60% price collapse — impossible to make a living farming |
| 42% of Americans didn't share in prosperity | Nearly half the country was left behind |
| Black wages = 50% of white wages | Systematic racial pay discrimination |
| 2 million+ workers in declining industries | Structural unemployment the boom couldn't fix |
Practice questions for Wealth and Inequality
What percentage of American families lived below the poverty line of $2,000 per year by 1929?
How many American farmers went bankrupt during the 1920s as a result of falling agricultural prices?
Quick recall flashcards
Wheat price change 1919-1929?
$2.50 → $1 per bushel (60% drop)
How many left rural areas?
6 million