President Calvin Coolidge once said, "The business of America is business" (Naples 35). During the 1920s, America saw a shift toward widespread business expansion and economic prosperity. The economic expansion created booming new businesses and thriving corporate profits that in turn raised the standard of living for many Americans. During this time in America, businessmen advocated a return to laissez-faire economics, less government regulation of businesses, and less government support for unions. The federal government supported big business through high tariff policies and cutbacks by the Federal Trade Commission (FTC). From 1922 to 1929, national income increased 40 percent, from $60.7 billion to $87.2 billion (The Roaring Twenties). Furthermore, the war stimulated a number of old industries, such as oil and steel, and helped create a number of new industries, such as plastic and rayon production; however, the total annual expenditure in money spent on new machinery for industry in 1918 was $2.5 billion, compared to $600 million in 1915 (Schultz). Additionally, the use of labor-saving machinery in factories and farms allowed workers to produce more goods faster and less expensively, which led to higher levels of production and worker productivity, thus raising wages of workers (The Roaring Twenties). Many new businesses became prominent and prosperous during the 1920s, such as the steel industry, department stores, and the automobile industry. In 1920, for example, Woolworth had 1,111 stores, and by 1929 they expanded to 1,825. JC Penney, on the other hand, goes from 312 stores to 1,395 (The Roaring Twenties). During this period, department stores also introduced installment payment plans to their customers...... half paper ......the 1920s proved vital to America's growth and provided a huge stimulus for l national economy.Quotes (5 in alphabetical order)"The American economy in the 1920s". History of the modern world. May 2005. February 21, 2006. http://www.historylearningsite.co.uk/America_economy_1920's.htm.Mintz, S. “The Consumer Economy and Mass Entertainment.” Digital history. February 21, 2006. http://www.digitalhistory.uh.edu/database/article_display.cfm?HHID=454.Napolo, Tony. Our century 1920-1930. 2nd ed. Milwaukee: Gareth Stevens Publishing, 1993.Schultz, Stanley K. “The Politics of Prosperity: The 1920s.” American History 102. February 20, 2006. http://us.history.wisc.edu/hist102/lectures/lecture15.html."The Roaring Twenties." Jaipur Internet LLC. February 16, 2006. https://www.123helpme.com/view.asp?id=23336.