Booming Economy Chapter 7: Section 1
What do we know about the 1920s?
Automobile Industry Henry Ford – revolutionizes production Mass Production – large # of identical products Cars a symbol of wealth Model T- car the ave. American could afford Assembly line production From $850 in 1908 to $290 by 1927 1919 10% had cars, 1927 56%
Assembly Lines and Work Place Scientific Management- reduce time, effort and expense Doubled wages, lowered work day to 8 hrs., weekend off Would become potential customers
Cars Change America Stimulated growth in other sectors Road construction – numbered highways Services – gas, diners and motels Sense of freedom and prosperity Development of suburbs
Consumer Revolution New affordable goods to the public Psychological research in advertising Installment buying – down payment, regular monthly payments