At the turn of the twentieth century, American industry was producing more goods than the country could consume, what was seen as the solution?

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Social Studies

Rogelio

25 January, 17:21

At the turn of the twentieth century, American industry was producing more goods than the country could consume, what was seen as the solution?

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Kendrick Perry · Answer 1

As a solution was seen the expansion of the market and global trade.

Explanation:

At the turn of the 20th century, the American industry that was rapidly growing, started to produce more than what the country can actually consume. This of course created problems, as if the industry stopped growing it would have stagnated, and the economic consequences would have been very bad on the long run for the country.

There were several suggested solutions, ranging from increasing the export of goods significantly to expansion of the country and creating colonies which will be used as a market. The U. S. tried both, but it didn't worked as planned. The world was preparing and later entered a war, while the areas where the U. S. managed to set its foot and control them were too poor to be of any particular use as a thriving market. The end result was the Great Depression