Historical Context: Economic Extremes

The Roaring Twenties

The setting of The Great Gatsby is predominantly in the glittering and extravagant era of the 1920s, often referred to as the Roaring Twenties.
The 1920s was a momentous period in American history that witnessed unprecedented economic growth and prosperity.
It was characterised by the rise of the stock market, increase in consumerism, and the advent of jazz music and flapper culture.
Many people with newfound wealth indulged in reckless spending and hedonistic lifestyles, symbolising the materialistic and decadent values of the era.

East Egg versus West Egg

The disparity between the social strata is vividly represented by the division between East Egg and West Egg.
East Egg is inhabited by the established upper class, who have inherited wealth and follow old money traditions.
On the other hand, West Egg is populated by the nouveau riche, people who have amassed their wealth from the economic boom of the decade.
The residents of West Egg are often looked down upon by those from East Egg, despite their wealth, implying the importance of lineage and tradition in high society.

The American Dream

The 1920s was the golden age of the American Dream, the belief that anyone, regardless of their social status or background, could achieve success through hard work and perseverance.
Jay Gatsby epitomises the American Dream – he rises from an impoverished past to become a self-made millionaire.
However, the novel critiques the pursuit of the American Dream, illustrating its potentially destructive effects on individuals and society.
The desperate and ultimately futile quest of Gatsby to win Daisy’s affection, despite his wealth, stigmatizes the American Dream as unattainable and disillusioned.

Impact of the First World War

The novel is set in the aftermath of the First World War, a period of disillusionment and moral decay.
Many war veterans, like Nick, returned home with a sense of restlessness and became disillusioned with the American society.
Fitzgerald presents during this era, moral values were overshadowed by the pursuit of wealth, power and superficial pleasure.

Summary

The economic extremes during the 1920s play a crucial role in shaping the characters and their actions in The Great Gatsby. These historical influences painted a picture of a society predominantly driven by materialism and vanity. Through this lens, Fitzgerald critiques the decay in American moral values and the disillusionment of the American Dream.