Recommended: Automobile industry impact on american economy
An economy that is good is very important in a country. In 1929, on the last day of trading, President Hoover did announce that the economy of United States was fundamentally sound. This announcement made the Department of labor in United States to predict that in the next year, 1930, there would be an increase in the number of employments. Things did not go as expected because the economy became bad. This made most investors and even the public in general, withdraw their money from banks because they feared banks would get out of business.
There were many noticeable components that contributed to the advancement and growth of the United States such as: industrialization, the Great Depression, and war. Of the many occurrences, technology had the single greatest impact on the continued evolution of the United States. The new inventions, new discoveries, and new innovation led to greater economic growth and wealth that the American people experienced during 1920-1940. One invention that influenced and continues to impact American lives is the automobile. Kyvig (2002) has argued that automobile ownership tripled during the 1920s, and by the end of the decade four families out of five owned an automobile.
The New Era The assembly lines helped the economic boom which made the automobile industry grow. With the car industry it made it easy for people to move around ,so people began to go to the suburbs which made construction jobs increase. The treatment of workers began to get better. Some employers began using Welfare Capitalism which for example gave workers paid vacations, shorter work days and higher wages. Women started to work they had jobs such as secretaries, telephone operators and salesclerk.
In fact, the average price of a car in the early 1900s was around $850 - a crazy amount of money for most people at the time. However, all of that changed thanks to the Assembly Line, which revolutionized the way cars were manufactured. The Assembly Line made it possible for cars to be produced more quickly and efficiently, which brought down the cost of production dramatically. When Henry Ford invented the Assembly Line and hired about 50k people it sped up the time to build a Model T. It even lowered the price of the Model T to $300. Henry Ford paid each person $5 if they worked 8 hours.
In a period known as bull market, the economy was booming and stock market trading increased, the economy flourished. Installment buying allowing Americans to buy more even if they didn’t have all the money. This helped the economy prosper throughout most of the 1920s. An important factor contributing to this economic was the automobile industry. As shown in Document 9, a graph from the Historical Statistics of the United States, the mass production of automobiles led to millions of people across the country buying automobiles.
1. In what ways did the increasing popularity of the automobile contribute to economic growth and social change in the United States during the 1920s? In the 1920’s the popularity of automobile increased the growth of economy when Henry Ford decided to sell his vehicles for a lower price, allowing more people to be able to buy cars.
Throughout the 1920s, the United States of America experienced drastic changes in economy, lifestyle, and technology. These alterations helped shape the future of the country, while improving the American way of life. The most influential creation during this time period was the automobile. It majorly impacted average Americans through the development of roads, changed structures of buildings, and establishment of new businesses. As automobiles became popular throughout the country, roads had to be built.
Which ultimately contributes to the idea of how the optimism of the 1920s fueled the growing economy of new products. It is possible to link the exponential growth to that of the aid provided by the United States government to companies all across the nation. “The American government provided generous financial support to American businesses during the war, which spurred the growth of technologically advanced manufacturing throughout the country. Those industries most helped were automobile, aircraft, and radio manufacturers. These industries had existed before the war, but federal spending allowed them to grow into massive operations that employed thousands of people.
Between 1920 and 1929, 15 million more automobiles were produced. By 1925, there was one ford car being manufactured every 10 seconds. In theory, more sales meant
Items like cars, radios, and railroads were able to contribute to the expansion of the United States economically. Cars sustained the economy during the 1920s because after World War I, the economy witnessed some concerns (Shindo, 2015, p. 1). The Model T’s, popularity led to “a high standard of living for many Americans” (Shindo, 2015, p. 1). According to Shindo (2015, p. 1), the car industry boom led there to being an “industrial production, for the first time, that outpaced consumer demand.” Since cars require many resources to be made and to run, “the automobile industry, in turn, fueled growth in related industries such as construction, glass, rubber, oil and tourism”
I believe it was the journey to shape Odysseus' character. Odysseus is a hero of Greece who faced the rage of the gods and survived. He faced the might of the Cyclops Polythemeas. Odysseus also met the seductress Circe who turned his men into animals. He even went to hell and back.
However, automobiles like the Chevrolet, the Rambler and the Hudson Hornet were huge successes when it came to consumerism in the economy. Manufacturers in the automobile industry, would make small changes to every year’s model. These changes would persuade consumers to buy the new model and that they needed to update their cars every couple of years and ultimately expanded purchasing growth in the 50’s society.
I have recently been afforded the opportunity to work at Lincoln Elementary School as an intern in order to complete my BSW field work requirement. Lincoln Elementary School is not your average standard educational department as it specializes in more than just education, it creates an opportunity for students to be a part of the social justice system. This school creates opportunities for children to be seen as equal members of society and bridges the gap between individuals with special needs and society as a whole. This experience has been rewarding to me on a personal level because it has shown me the importance of social justice on multiple different levels.
Automobiles were affordable and were designed carefully. The majority of these cars were produced by the Ford Motor Company, led by Henry Ford, who designed a different model each year to satisfy the insatiable crowd. Many of the automotive innovations that we think of as being modern—like electric powered cars, four wheel drive, front wheel drive, hybrid fuel and electric cars—were introduced during the 1920s. The automobiles had various different colors in order to get the attention of people, especially woman, and through time, they evolved to become more comfortable to drive for men (Scott ,1). The automobiles were beneficial to the U.S because they expanded the area of habitat.
The Rise of the Automobile in 1920s in The Great Gatsby Perhaps no invention affected American everyday life in the 20th century more than the automobile. The invention and improvement of the automobile not only changed the America society, but also the whole world. The rapidly growing automobile industry led by Henry Ford and the Ford Motor Company produced new and better models every year to supply the insatiable public demand. Increased wages and lower cost vehicles made possible through mass production meant that cars became increasingly affordable, although 3 out of 4 cars were bought on installment plans.
