Which social and economic effects are most significant?
In my opinion the radio and credit are the two most significant social/economic effects in the 1920's. The radio was important because it was the first way to listen to news, music, and sports broadcasts. As technology slowly began to evolve the radio dropped in price so more people bought them. There was no other form of entertainment like video games or televisions therefore making the radio very popular. The radio had a broad impact on everyone who now often spent their evening hours sitting in their living rooms listening to the radio together. Never before were people able to stay in their homes and get the news right from their house. It had never been possible before to be able to broadcast news and live updates out to everyone at the same time all across the country. Updates were given on the mine workers informing people of what was happening right when it was happening. The radio was a form of new communication technology which is still used today. Everyone loved the invention of radios and manufactures were thriving. This gave manufactures incentive to invent new and better technology based appliances like televisions. As the radio became more popular so did radio stations in fact there are 675 different radio stations in Canada today.
Credit was a new and huge introduction to society in the 1920's. People could now buy things they usually couldn't afford because they didn't have to pay the money up front. Instead, once they had the money they would pay off their credit at the stores. As time went on, store credit evolved into credit cards which worked the same and almost all adults today use daily. While using credit people did run into some problems, they would purchase items intending to pay for them eventually but wouldn't be able to get the money. They would go in debt and could lose their homes, farms, live stock etc. Credit effected everyone because you were either using the credit in the store or people were using credit at your own store. This either affected you positively or negatively it depended on how cautious you were when using it. Some people continued to buy more and more as if they have unlimited money but others only used it when necessary. Credit didn't ever fade off and become less important, it has grown over the years and is very important today.