Kisler 1
River Kisler
Professor Jalal
CTW 1
10 June 2022
The Roaring Twenties: Excess, Excitement, and Upheaval.
Examining one of the most culturally significant eras in American history from an
economic, societal, and historical perspective.
In this paper, I will do a deep dive into the period of American history known as the
Roaring 20s. Inspired by our reading of the Great Gatsby, I will examine various aspects of this
period of history, including the economic and societal trends that shaped it, and the impact it had
on this country. The Roaring 20s, sandwiched between the end of WWI and the Great
Depression, was an age of firsts, and I will argue this decade marked a notable and distinct shift
from history to the modern age in America. Coming off The Great War, America emerged
stronger than ever, with an economy buoyed by wartime spending, industrialization, and
consumerism. The joyous postwar celebration and massive amount of capital in the hands of the
wealthy lead to displays of wealth and material excess never before seen in society. Great
Gatsby-esque figures constructed palaces, threw parties, and celebrated like never before. Jazz,
flappers, and a general opening up a formerly restrictive society all lent themselves to this
atmosphere of glitz and glamor. But under the surface, the 1920s were a period of extreme
economic inequality. In fact, this incongruence was at the core of this decade. The 1920s were a
decade of contradictions. Showy wealth and deep poverty, more social freedoms and a resurgent
KKK, huge new technological innovations and increased consumerism and the destruction of
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organized labor, all these things came to a head in the 20s. The 1920s are a particularly strange
period in our history because they have been so well defined in popular culture, and yet we know
so little about the reality of what was happening.
Perhaps the defining characteristic of the Roaring 20s in the popular imagination is the
massive amount of wealth on display, and the seemingly unstoppable economy. This view has
been most eloquently and powerfully cemented in our minds by F. Scott Fitzgerald, one of the
most consequential authors of this time period. In the movie remake of his masterpiece novel The
Great Gatsby, narrator Nick Carraway gives a description of New York in the 1920s that sums up
the way we have come to view the era: “In the summer of 1922, the tempo of the city approached
hysteria… stocks hit record peaks. And Wall Street boomed, in a steady golden roar… the parties
were bigger; the shows were broader; the buildings were higher; the morals were looser; and the
ban on alcohol had backfired… making the liquor cheaper.” This depiction of New York during
the 20s has become the enduring cultural perception of America at that time. America, in our
collective imagination, sees the Roaring 20s as one large party, which we associate primarily as
taking part in New York City. It has become a common refrain among people in the 21st century
to say that we are entering a second coming of the Roaring 20s as Covid-19 begins to dissipate.
By this they presumably mean a period of national rejoicing, hedonism, parties, and a loosening
of societal morals. But is this view of the Roaring 20s as one big party that everyone was invited
to an accurate depiction of what was really happening? To understand this period from an
economic lens, we have to understand the economic forces that shaped it, and take a holistic
view of the economy that includes more than just the booming stock market and spending habits
of the 1 percent.
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While many European countries and their economies suffered following WWI, the U.S.
roared out of the conflict as one of the most powerful economies in the world. U.S. banks had
loaned money to Europe during the war, American businesses sold critical goods, and U.S.
government spending turbocharged the economy. And most importantly, the U.S. had an
“essential supply of natural resources such as timber, iron, coal, minerals, oil, and land.” (BBC)
We also had a “plentiful and cheap workforce” (BBC) in the form of immigrants which allows us
to utilize these resources. The extraction of these natural resources provided the foundation for
the U.S. economy to boom. The Second Industrial Revolution, which included the spread of
electricity and the advent of the assembly line, “led to a manufacturing boom” (Thulin).
America's spending habits changed in conjunction with these other trends. After having
“patriotically scrimped and saved during wartime” (Little). Americans started to live it up,
spending more and more even as prices rose due to inflation. This spending was spurred also by
the “popularization of personal credit” which “enabled middle class Americans to buy consumer
goods in droves” (Thulin). America also exported goods to European consumers, pumping more
and more capital into American firms. The stock market roared as new financial innovations like
buying equities on margin became available to investors. Money poured into the market and
stocks soared, making the wealthy exponentially wealthier. Because people believed the market
could never fail, they borrowed more and more money, bought more stocks, and pushed the
market to never before seen heights. Between 1922 and 1929, “gross national product ballooned
by 40 percent” (Thulin). All of this speculation, spending, and growth was wholeheartedly
supported by the Republican administrations of Harding, Coolidge, and Hoover, who all took a
laissez faire approach to regulation and shared the “spirit of wholehearted materialism, boosting
corporations and otherwise taking a light touch to policy” (Thulin).
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Clearly, it’s undeniable that during the 1920s the U.S. economy soared and made many
people spectacularly wealthy. But there was a flipside to the dizzying, glittering facade that is
portrayed in books and movies documenting this period. By the end of the 1920’s, despite “per
capita income nearly doubling, the top 1 percent of U.S. families reaped more than 22 percent of
the nation's income” (Thulin). Poor white Americans and Americans of color did not benefit
from this growth in meaningful ways. In fact, “about 60 percent of families made less than
$2,000 a year, the income level the Bureau of Labor Statistics classified as the minimum livable
income for a family of five” (Little). Farmers in particular were hurt during this period. During
the war, U.S. farmers had dramatically increased U.S. food production to feed European allies.
After the war, “prices and demand dropped, and farmers were stuck with an oversupply they
could not sell” (Little). David Sicilia, a history professor at the University of Maryland, describes
the brutal feedback loop that farmers got caught in. “prices are falling and in order to survive,
farmers basically respond by planting even more. So there’s overproduction layered on top of
overproduction, and so they get into this kind of vicious cycle.” (Little). This cycle was a
contributing factor to many farmers and working class Americans actually being worse off
during the 1920s. Another key contributing factor to inequality was the extreme anti labor
climate that emerged during the 1920s. The presidents of the 20s shared a “strong belief that
prioritizing shareholder profits would create a stronger economy” (Little). So while workers saw
some modest wage growth, their wages in no way kept pace with their productivity. Instead of
raising wages, “most corporations rewarded their shareholders with large dividends while trying
to keep worker wages low” (Little). Workers had no recourse to fight for higher wages because
of the anti labor climate. “Courts often ruled in favor of businesses” and the Supreme Court even
“struck down a child labor law in 1918” (Little). In this climate, “Unions were weak and strikes
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became extremely rare” (Little). These factors both contributed to the massive inequality, which
in turn contributed to the great depression. Mark Joseph Stelzner, an economics professor at
Connecticut College explains how with “increased inequality you have a much less stable
economy because of the fact that the most stable component of GDP is essentially consumption”
(Little). The massive inequality, debt, speculation, and refusal by the government to try and stem
any of it is what lead eventually to the massive collapse of the U.S. economy.
The economy was not the only thing moving at a rapid pace during the 1920s. American
culture was shifting rapidly, in very visible ways. Perhaps the most obvious indicator of this
change, and an aspect of 1920s culture that has been immortalized in literature and television, is
the Flapper. Linda Simon, in her article “The Original ‘It’ Girl,” notes how “the glamorous,
shimmering flapper in her slinky dress and stylish bob seemed to emerge into American life out
of nowhere after the First World War” (Simon, 10). This is a pretty accurate characterization.
They simply appeared in American life, a product of the postwar jubilation of society and the
loosening of societal norms. These flappers represent the archetypal Roaring 20s female
characters that we know from literature. Daisy Buchanan, the infatiunion of Gatsby, is the perfect
Flapper. Stylish, young, beautiful, and a little childish. These women wore clothing that would
have scandalized the Victorians, frequented parties and speakeasy’s, drank from flasks, and
generally lived lives of unconcerned hedonism. This was a lifestyle that was entirely new to
women, a strange product of the unique cultural forces that converged in the 20s. They also
evolved in symbiosis with another key trend in the 20s: The rise of consumerism and marketing.
According to Simon, “New cosmetics companies sold skin creams to eradicate wrinkles.
Magazines advertised flapper hairstyles and clothing-plus extreme diets.” (Simon, 10) This
lifestyle branding and direct advertising over a certain way of living to consumers forever
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changed Americans' relationship with consumption, turbocharging the growth of whole new
sectors and creating industries like advertising. But while we look back on these characters with
affection today, at the time there was plenty of public concern about Flappers and their impact on
society. According to the Globe, the stereotypical Flapper “had no ideas,” and “no definite aims”
beyond the all important desire to have “as good a time as possible.” The rise of the Flapper was
a “grave source of worry” to parents, teachers, and officials, who feared the deterioration of
society was imminent. According to G. Stanley Hall, a leading psychologist at the time,
“Without womanly ideals the female character is threatened with disintegration” But in
retrospect, Flappers actually marked definite progress in the struggle for women's rights in
America. “Unlike their mothers and grandmothers, flappers tended to go to high school and even
college.” Despite their shallow frivolity, Flappers also “Fought for independence, equality in
marriage and pay and a political voice” (Simon, 10). But they were a short-lived phenomena.
The Great Depression wiped out the strange, jubilant fever dream of proseprity that had alloed
them to thrive, and later feminist movements were at odds with the Flappers devotion to
prolonged adolescense.
The Flappers, with their scandalous outfits and wild abandon, contributed to the sense
that the Roaring 20s were out of control. But it was the wave of crime, and the new kinds of
crime, that really made the 20s “roar.” In an article discussing the rise and impact of crime
during the time period, Bob Gordon points to the Volstead Act as a defining moment. The bill,
which became law on January 16th of 1920, prohibited alcohol. Commonly known as
prohibition, this set the stage for a whole ecosystem of underground speakeasies, bootlegging
operations, and organized crime networks, all formed on the black market to meet the public's
insatiable desire for alcohol. Bootlegging was fueled by another one of the key innovations of the
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20s: the inexpensive automobile. Gordon notes that “Bootleggers in the United States adopted
the automobile quickly,” using it to transport booze to speakeasies and bootleggers throughout
the midwest.” This ability to ship alcohol over long distances to lots of different places was key
to the development of “rackets: what we refer to today as organized crime.” Al Capone quickly
rose to become the largest proprietor of organized crime in the U.S. It’s estimated that his
‘Chicago Outfit’ had an “annual income of approximately 100 million US dollars” (Gordon, 17).
Illustrating just how important the automobile was to all this, George C. Henderson notes in his
book Key to the Crookdom that “seventy-five percent of all crimes are now perpetrated with the
aid of the automobile.” (Gordon, 18) Crime was also made more intense by the substitution of
the pistol as a criminal's weapon of choice to automatic weapons. Gordon points out how
“Automobiles and automatic weapons created a technological gap between criminals and law
enforcement.” But even more importantly, he theorizes that crime expanded so rapidly that “an
administrative and organizational gap” between organized crime and law enforcement emerged.
He says “while bootleggers and bank robbers became increasingly sophisticated throughout the
Roaring Twenties, the forces of law and order remained stuck in an earlier era” (Gordon, 19).
The massive power of these criminal organizations, the rise of fast cars and powerful weapons,
and the massive demand for crime created by prohibition meant that the Roaring 20s saw some
of the most brazen crime in American history. But Gordon notes that “the mayhem in the streets
of Chicago and New York City” was just the visible part of a wider “hysteria” that “swept
America during the 1920s.” Gordon says that while automatic weapons and automobiles were
the surface level impact of WWI on American society, but a “sense of (...) existential crisis” was
the less visible but “more profound impact of the war” (Gordon, 20).
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Even as some parts of society were accruing massive wealth and as women were
experiencing unprecedented freedoms, other segments of society were experiencing increasing
alienation and economic disenfranchisement. This widening divide between the haves and the
have nots was made more unacceptable to those who did not benefit from the economic growth
of the 20’s because of the conspicuousness of the consumption being put on display by the
wealthy. The lavish parties, the consumerism, the fun, it all made it even more intolerable to be
impoverished. This generated a lot of anger and resentment against the upper class from those
who could not partake in the revelry. This anger, in turn, manifested itself in the form of
increased nativism and racism. Poor, white Americans blamed their status on immigrants and
African Americans, which resulted in a resurgence in groups like the KKK. In an article by
Thomas R. Pegram that analyzes the resurgence of the KKK during the 1920s, the author
discusses the conditions that lead to its moment of renewal and expansion. It feels contradictory
that the KKK should rear its head during a period in American history so often portrayed as
being wonderfully prosperous for all and ushering in the modern age. However, Pegram notes
that many “white Protestant workers” felt “alienated” during the progressive era, and that the
“Klan reaffirmed a sense of collective identity.” This was especially potent in a time when
“expressions of class solidarity were unwelcome” (Pegram, 375). He goes on to point out that
this is something of a theme throughout history: White working class Americans “periodically
embrace” beliefs and ideologies that are often “at odds with their economic interests.” Their
resenerent and feeling injustice at their socioeconomic status leads them to target “identifiable
scapegoats” such as “ethinic minorities” and “immigrants.” During the 1920s, “Anger toward
elites and unresponsive institutions” drove many white working class people into the arms of the
KKK (Pegram, 391).
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Perhaps it is impossible to fully understand the Roaring 20s. So much chaos, confusion,
and contradiction, it is hard to sift through all the stories that have been written and information
we have, and come up with a simple answer to explain this strange decade in our country's
history. But one thing is clear, it is completely unique. It stands alone, sandwiched between The
Great War and The Great Depression, a strange moment in time where everyone collectively
seemed to let loose, and in doing so, lost their minds a little bit. Cultural historian Modris
Eksteins argues that “society underwent a moral crisis in the wake of WWI'' and that it was the
war, and its effect on the national psyche that brought the Roaring 20s about. He claims that “old
authority and traditional values no longer had credibility” and that as a result, the twenties
witnessed “hedonism and narcissism of remarkable proportions.” To him, it's not the cars or the
radios or the booming stocks that mark this decade, it's the “profound sense of spiritual crisis”
that was its hallmark. (Gordon, 20). Regardless of exactly how we judge this period, it’s
impossible to argue that it hasn't changed our country in profound ways. Economically, it led to
The Great Depression, the reverberations of which were felt for decades. Socially, it saw women
take on new roles in society and the popular imagination, and saw the myth of the self made man
become the new most prominent archetype of masculinity and success. Technology, from cars to
radios to machine guns, changed how Americans socialized, moved, committed crime, and more.
And nearly 100 years later, we are still reading literature written during, and inspired by this
period to better understand the American experience. So whatever one makes of the Roaring 20s,
no one can possibly discount its significance.
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Works Cited:
Gordon, Bob. “What Made the Twenties Roar?” History Magazine, April 2010, Vol. 11, Issue 4,
p16-20.
Little, Becky. “Why the Roaring Twenties Left Many Americans Poorer.” History.com, A&E
Television Networks, 23 Mar. 2021,
https://www.history.com/news/roaring-twenties-labor-great-depression.
Luhrmann, Baz, et al. The Great Gatsby. Warner Bros. Pictures, 2013.
Pegram, Thomas R. “The Klu Klux Klan, Labor, and the White Working Class During the
1920s.” Journal of the Gilded Age & Progressive Era, April 2018, Vol. 17, Issue 2,
p373-396.
Simon, Linda. “The Original “It” Girl.” Prologue, September 2017, p9-11.
Thulin, Lila. “What Caused the Roaring Twenties? Not the End of a Pandemic (Probably).”
Smithsonian.com, Smithsonian Institution, 3 May 2021,
https://www.smithsonianmag.com/history/are-we-headed-roaring-2020s-historians-say-its
-complicated-180977638/.
In this paper, I have done a thorough exploration of some of the most interesting and important
trends that shaped the 1920s, or the Roaring 20. I examined how conspicuous consumption and
the rise of the super wealthy made this period one of excess and consumerism, and how this view
of the time has been memorialized in works such as The Great Gatsby. However, I went on to
argue that the Roaring 20s were not as carefree, exciting, and fill of glamor as F. Scott Fitzgerald
would have you believe, especially for the average American I examined how economic
circumstances and strong anti-labor government pressure meant that the average working-class
person experienced little of the tremendous growth that is often associated with the Roaring 20s.
I then went on to discuss changes in society, including a huge leap forward in women’s freedom
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of expression in the form of the flapper, accompanied by a huge step back in the fight for
equality in the form of a resurgent KKK and anti-immigrant laws. Then I discussed why its
impact has been so significant and restated my thesis for why the 1920s should be taken
seriously as one of the defining decades in history: Economically, it led to The Great Depression,
the reverberations of which were felt for decades. Socially, it saw women take on new roles in
society and the popular imagination, and saw the myth of the self made man become the new
most prominent archetype of masculinity and success. Technology advanced rapidly, from cars to
radios to machine guns, changing how Americans socialized, moved, committed crime, and
more. And nearly 100 years later, we are still reading literature written during and inspired by
this period to better understand the American experience. So whatever one makes of the Roaring
20s, no one can possibly discount its significance.