From Boom to Bust

Spurred by rapid expansion during the war, American business thrived in the 1920s. Corporations expanded more and more into overseas markets, while at home a national consumer culture emphasized leisure and fun. But some sectors of the economy, notably agriculture, never recovered from a sharp recession in the wake of World War I. Meanwhile, close observers worried over the rapid economic growth and easy credit that fueled the Roaring Twenties. Their fears proved well founded: the “Roar” ended in the Great Depression.