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The Rise of Big Business Celebrating Business > President Calvin Coolidge, 1924 Celebrating Business > Bruce Barton Celebrating Business > Who Prospered in the 1920s? 1200 mergers caused the disappearance of over 600 independent enterprises
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Celebrating Business > Who Prospered in the 1920s? • 1200 mergers caused the disappearance of over 600 independent enterprises • top 0.1% of U.S. families in 1929 had combined income as large as bottom 42% • i. e. approx 24,000 families had combined income as large as 11.5 million poor and lower-class families • per capita income in the U.S. rose 9% between 1920-1929 • per capita income for the top 24,000 families rose 75% • 80% of families had no savings • farmers did not prosper - 1/4 of all employment • less than 10% invested in the stock market
Welfare Capitalism > Comic Strip on Workers Owning Shares, 1929