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How Did Henry Ford Affect The Economy In The 1920s

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1920s Automobiles Henry Ford was one of the most powerful industrialists in America. Ford revolutionized the American automobile industry but he did not invent the car, many were built way before his time. Their were many types of cars built like steam powered cars, electric etc. Ford decided to use combustion engines to power a car. So by doing that, he made cars useable as well as affordable. The Automobile industry boomed, effectively changing the economy in both the United States and the world. Henry Ford was born on July 30th, 1863 in Greenfield Township, Michigan. Ford’s father gave him a watchpiece in his early teens. When he was 15, Ford took apart and reassembled watches for the local neighbors and family. He gained the reputation …show more content…

Social by at first only the rich being able to buy one. “Society is concerned with the relations of technology to science, politics and economic change” (A&E) and Ford’s developments really changed society. But as years went on the cars being more affordable for everyone. Boosted would be an understatement for what the automobile did for the economy. Sales rocketed like nothing before. Taxes on roads were being put into place as well as tax on gas increasing to about a dollar a year. Cars being manufactured in Europe were made so cheaply but the US took over the manufacturing of cars is caused a great political view for the US. Ford utilized the assembly line to make his production faster and his prices lower …show more content…

The automobile became extremely popular fast because of the ability to travel places quickly. It mostly boomed after WW1 when many soldiers were coming back from war that had money and as well as the women because they took over jobs during the war. The automobile even helped the US in their war effort by developing the jeep to travel while at war. For this reason the Ford Motor Company began “Growing during the boom period after WWI” (Impact). Ford gave families the opportunity to travel cheap, far and quick. Families flocked to his Model T and later, his Model A for the opportunity to explore. Ford provided a huge boost to the economy after the war because the US was fairly in debt from the war effort (and from the devastating effects of the great depression). Ford provided jobs and consumer products that stimulated the economy, once again increasing the value of the dollar

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The end of World War 1 left a big impact in economy. So, they decided to shift place to the economy transitioned from wartime production to peacetime production. They started that by running the economy to a better condition. Henry Ford’s company produced automobile and the latest of those product is the new Model T which were sold cheaply so many American could afford them. As a result, State funded programs to build roads and highways which changed the America’s landscape.

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World War II greatly stimulated America’s economy by creating millions of jobs and nearly wiping out unemployment. Due to high levels of industrial outs, wages were also increased. Since WWII caused the economy to grow rapidly, things started to change within American society. WWII had a major influence on changing American society because the growth it caused in the economy allowed African Americans and women to seek new opportunities. Since the men were away fight in WWII, women had to take over as industrial workers in factories.

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One of the industries most impacted by this was the automobile industry. As cars became cheaper to make, they also became much more accessible to the public. Between 1908 and 1924, the cost of a Ford Model T dropped by nearly $600. Cars gave people the freedom to travel and see more of their town and the country. People were able to expand their knowledge of the world around them.

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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.

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As World War II was coming to a close, the United States went from a depression to a thriving economy. The war brought prosperity, and in the postwar period the United States became the world 's richest country. United States’ GDP jumped 223 percent between 1944 and 1947 from about $200 thousand million to $300 thousand million . As more and more Americans were becoming a part of the middle-class, the United States economy was growing. Economic growth had many affects on American life such as rising living standards, agricultural hardships, and a newly emerging American culture.

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The number of consumer products went up. There were more products being created and when there more products to buy the stores made more money and when a product is being bought there needs to be more of that product made. Factory workers had to work longer hours which means they made more money which also means they would have more to spend. Some of the new products they were creating were indoor plumbing, hygiene products, electric irons, vacuums, washing machines, and refrigerators. Ford's

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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”

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As companies were easing back from the war-time economy, people were buying more things. As the elected presidents of that time gave tax cuts and vetoed bills in their favor, companies were growing. With the growth of companies, their workers were getting higher wages and more people were employed, giving them excess money. More money meant that people were able to buy things previously unable to. Some of these new things were like the Model T Ford, the Band-Aid and the television.

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The American Dream consists of being successful at whatever you dream of doing. Henry Ford fulfilled his American dream by starting his own car company from nothing. Although he had many obstacles and challenges, he never gave up. The creation of automobiles and the invention of the assembly line by Henry Ford helped the american dream of growing up to be so influential that goal can be obtained through hard work and determination.

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