This introduction covers Setting the Scene 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 1 of 14 in this topic. Use this introduction to connect the idea to the wider topic before moving on to questions and flashcards.
📖 Setting the Scene
Here's a truth about the "Roaring Twenties" that photographs of flappers and fancy cars don't show: while some Americans danced the Charleston in speakeasies, others couldn't afford bread. The 1920s boom was like a party that most Americans weren't invited to. By 1929, the richest 5% of Americans owned 33% of all wealth, while 60% of families lived below the poverty line of $2,000 per year. This wasn't just sad — it was dangerous. An economy where most people can't afford to buy things is an economy waiting to collapse. The glittering prosperity was built on foundations of desperate poverty — and when those foundations cracked, the whole thing came crashing down.
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
How many left rural areas?
6 million
Wheat price change 1919-1929?
$2.50 → $1 per bushel (60% drop)