There were few recessions in the postwar united states because

With the end of the First World War, European countries were devastated, with a weakened economy and a strong contraction in consumption, which shook the world economy. The United States, in turn, profited from exporting food and processed products to allied countries in the interwar period. As a result, between 1918 and 1928 American production grew stupendously. Economic prosperity spawned the so-called "American way of life". There was employment, prices fell, agriculture produced a lot and consumption was encouraged by the expansion of credit and the payment of installments for goods. However, the European economy later recovered and began to import less and less from the United States. With the contraction of consumption in Europe, the North American industries had no more to sell to. There were more goods than consumers, that is, the supply was greater than the demand; consequently, prices fell, production decreased and unemployment soon increased. The fall in profits, the general downturn in industrial production and the paralysis of trade resulted in the stock market falling and later the stock market crashing.

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answer

wages and job opportunities have grown slowly since the recovery began five years ago, while technology continues to change the nature of work. while many workers enjoy opportunities unimaginable a generation ago, many others feel the economy has left them b

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