What was the impact of the Boom on the lives of different groups of Americans?

The 1920s, often referred to as the "Boom" period, saw huge economic growth in America, but its impact differed widely across different groups of people.  For some, this decade brought prosperity and new opportunities; for others, it meant hardship and exclusion. 

Business owners and corporate executives, particularly those in industries like steel, oil, automobiles, construction, and housing, were among the biggest beneficiaries of the Boom.  They enjoyed massive profits and saw their companies grow tremendously.  Wealthier businessmen and figures like Henry Ford and John D.  Rockefeller Jr.  amassed vast wealth.  Bankers also profited from the credit boom and stock market craze, making large gains from lending money and buying and selling shares. 

The upper middle class, including managers, engineers, lawyers, accountants, and advertisers, experienced improved living standards.  They could afford luxuries like shopping in department stores and owning cars.  The stock market offered additional avenues for wealth. 

Young, affluent individuals enjoyed a life filled with fun and opportunity.  College students and 'flappers' symbolised the decade's spirit of freedom and change.  The entertainment industry also saw some individuals prosper, with actors, musicians, and sports personalities gaining fame and fortune. 

Factory workers in urban areas experienced a mixed but generally positive impact from the Boom.  The growth of cities led to better wages and working conditions, especially in places where unions were active.  Many urban workers enjoyed improved housing, access to new consumer goods, and more leisure time due to shorter working hours.  However, these benefits were not universal, and disparities existed based on skill level and job type. 

On the other hand, several groups did not share in the prosperity of the 1920s.  Farmers, for instance, faced significant problems; changing markets, advances in machinery, overproduction, and plummeting prices for crops, caused many farmers to go bankrupt.  Rural areas lacked access to electricity and other advancements, leaving country dwellers excluded from the consumer boom. 

Low wage earners, including unskilled and casual workers, also struggled.  The top 5% of the population controlled a disproportionate share of the wealth, while many Americans earned less than $2000 annually, with a large portion living below the poverty line.  Old industries like coal mining and textiles faced falling demand, leading to falling wages and job insecurity.  Trade problems worsened these issues, as high tariffs hindered international commerce, impacting farmers and businesses reliant on exports. 

Unemployment remained a persistent issue, with around 2 million people out of work throughout the decade.  New technology, while beneficial for some, displaced many workers, and the lack of a welfare state piut many unemployed 'on the bread line'. 

Black Americans, particularly those in farming and low-paying urban jobs, suffered greatly during this period.  Many black farm workers lost their jobs, and those who moved to cities encountered poor living conditions and limited employment opportunities.  Native Americans also lived in extreme poverty, confined to government-controlled reservations with minimal resources. 

The stock market boom, which had seemed like a path to quick wealth, ultimately led to disaster.  Many investors bought stocks 'on margin', leading to runaway speculation.  When the market crashed in 1929, it wiped out fortunes and the country plunged into the Great Depression. 

In summary, the 1920s Boom brought significant benefits to certain groups, particularly those in business, finance, and urban industries.  However, it also exposed and deepened existing economic disparities, leaving many Americans struggling and setting the stage for the economic collapse that followed.