Roaring 20’s: Boom Times! Automobile Industry, Assembly Line, Welfare Capitalism, Consumer Credit.

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Presentation transcript:

Roaring 20’s: Boom Times! Automobile Industry, Assembly Line, Welfare Capitalism, Consumer Credit

Objectives Analyze how the growing importance of the automobile and other new industries improved the U.S. standard of living. Describe how Welfare Capitalism offered incentives for workers that drove productivity and wage increases.

New Industries I. Auto Industry A. Henry Ford 1. Assembly Line a. Model T II. Consumer Goods III. Aviation Industry A. Postal Service 1.Charles Lindbergh

a. assembly line b. mass production c. Flivver d. apprentice system What system of manufacturing adopted by Henry Ford divided operations into simple tasks that unskilled workers could do and cut unnecessary motion to a minimum? a. assembly line b. mass production c. Flivver d. apprentice system 3

a. delivery industry. b. middle class. c. farmers. d. city dwellers. Henry Ford almost single-handedly changed the auto from a toy of the wealthy to an affordable necessity for the a. delivery industry. b. middle class. c. farmers. d. city dwellers. 3

The consumer goods industry created many new products for a. factories. b. the airline industry. c. businesses. d. the home.

New Industries IV. Radio Industry A. Edwin Armstrong (1913) 1. Nat’l Broadcasting Co. [NBC] 2. Columbia Broadcasting System [CBS] a. Advertising

To create consumers for their new products, manufacturers turned to 10 a. television. b. mass production. c. advertising. d. newspaper and magazine articles.

Consumer Society V. Consumer Credit A. “Buy now pay later” 1. Installments a. Accepting debt VI. Welfare Capitalism A. Worker Benefits: -Stock Options -Profit Sharing -Medical Care -Pension **Decline in Unions**

Credit Consumer Installment Debt Many consumers in the 1920s began to feel confident that they could buy now and pay later, so many bought everything from radios to cars on the ____________________ plan. 4 Credit Consumer Installment Debt