1. Left Hand Side  27 Automobiles Right Hand Side  A roar or yawn?3/18

2. TWENTIES WOULD YOU DESCRIBE THE TWENTIES AS A ‘ROAR’ OR WAS IT JUST A BIG ‘YAWN’?

3. ECONOMIC GROWTH  The Gross National Product of the nation rose from 74 billion to 104 billion over the decade. Stock prices soared.  Wages were up, so workers had more money to spend automobiles, appliances and entertainment.  Many ordinary Americans invested in the stock market for the first time as stocks soared.

4. FORD  Ford revolutionizes industry with the assembly line.  Productivity increases. With the increased speed of production (a car a minute) the price per car dropped.  Ford began increasing the wages of his workers, so that they would buy cars also.  Welfare capitalism: companies provide benefits to promote worker satisfaction like pensions for lower pay and shunning unions  Modern Times Modern Times

5. ASSEMBLY LINE 1. What methods of production did the Ford Motor Co. use before the advent of the assembly line? 2. In your own words, what were Ford’s 3 principles of assembly? 3. What precautions did Ford take before making any changes in his factory? 4. What were 3 things that Ford wanted to reduce in his workers?

6. AUTOMOBILE  Automobiles supported other industries  Demand for steel, glass, and rubber  Repair shops and filling stations  Tourist industry:  motels and restaurants  Florida as a destination spot and soaring real estate  Development of suburbs

7. REPERCUSSIONS

8. CONSUMERS  Explosion of new products, new experiences and new forms of mass communication  Appliances: refrigerators, vacuums cleaners  People would gather around the radios for news, dramas and comedy shows.  Flight  Creating demand: Advertising  Up until the 1900s people typically paid in full for a product, but now installment buying and on credit became common.

9. FARMERS  Farm commodity prices fell dramatically after WWI with less demand from Europe  Wages fell as well as the value of their land.  Boll weevil buy destroyed crops throughout the South. Boll weevil  1927 Mississippi floods killing up to a thousand and leaving many homeless  Strong Hurricane hits Florida sending their economy into a depression.