new economic era mr. williams 10 th grade u.s. history
TRANSCRIPT
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New Economic Era
Mr. Williams10th Grade U.S. History
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• How did you earn the candy (money) during the simulation? •Was this a fun simulation? Would
it be fun if you had to do this 8-10 hours a day 5-6 days a week?• How do you think workers feel
who work on an assembly line similar to the one we had today?
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Henry Ford• Young Entrepreneur who
began selling his Model T in 1908• To do this, he used the
Assembly Line to increase amount of cars he could manufacture
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• Production system in which item being built moves along a conveyer belt to various workstations•Workers had 84 specific jobs• “The man who puts on a bolt does
not put on a nut. The man who puts on the nut does not tighten it.” –Henry Ford
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Model T•Car sold for under $500• In its first year, produced a car
every hour and half•By 1920, produced a car every
minute •By 1929, 22 million cars in
country
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Cities Grow•Detroit population grew from
500,000 to 1.5 million from 1910 to 1930•Akron population grew from
70,000 to 210,000 from 1910 to 1920
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Suburbs• Smaller towns located outside of
urban areas•Car travel allowed people to live
at greater distances from their jobs• Florida also grew as people were
more able to travel
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Impact of assembly line on the Economy
• Productivity rose by 60%•Measure of output per unit of input
such as labor •Welfare Capitalism: system in which
companies provide benefits to employees in an effort to promote worker satisfaction and loyalty
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Industry Changes Society•Demand for steel, glass,
rubber and other materials grew•Repair shops, filling stations,
motels, restaurants all grew during the 1920s
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New Products of 1920s•Refrigerators, Vacuum
Cleaners, Radios•Dramas, Comedy Shows, News
shows, Advertisements •Between 1920 and 1930 60%
of all families had a radio
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New Ways to Pay• Installment Buying: paying for
an item over time in small payments • Credit: Borrowing money to
make these payments • 90% of Durable Goods: Cars and
appliance bought on Credit
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Roaring ‘20s?•American farmers experienced
hardship after WWI• Farm prices fell, Failures
increased, income of farmers and value of farmland fell
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•What was the impact of the assembly line on the car industry? What about in America in general?