New technology played a huge role in shaping the economy of the 1920s. Technology, such as the radio, were common because of mass culture, so people bought radios. Also, the car completely changed the way americans went about their daily lives. Cars created the largest industry in the US - $800 million. Cars helped create the self-perpetuating cycle of money/jobs (Standardized mass productions led to: Better machinery in factories led to: Higher production and higher wages led to: More demand for consumer goods led to: More standardized mass production). Cars also created a new market for credit. New technology helped the economy boom, and created the "golden age".
