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 |
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.
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