'The US economic boom of the 1920's was primarily due to the motor manufacturing industry'
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- Created on: 23-09-15 14:06
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- 'The US economic boom of the 1920's was primarily due to the motor manufacturing industry'
- Motor Manufacturing
- Ford's assembly line revolutionized production
- 12 1/2 - 1 1/2 hours
- 10 seconds
- Cheaper to produce, wages increased
- $5 per day
- Model T popular
- No. of cars 1914-$850 1926-$296
- 1930- 13% of US manufacturing
- 1930- employed 4 million
- Created business for fuel stations, mechanics and cinemas
- Taylorism
- Scientific Management
- Used by Ford
- Sociological Department- monitoring
- Maximise Efficiency
- Method not habit- suited to capabilities
- 'Fair day's pay for a fair day's work'
- motivated by money
- Time and Motion studies- what is the best method
- Motor Manufacturing
- Ford's assembly line revolutionized production
- 12 1/2 - 1 1/2 hours
- 10 seconds
- Cheaper to produce, wages increased
- $5 per day
- Model T popular
- No. of cars 1914-$850 1926-$296
- 1930- 13% of US manufacturing
- 1930- employed 4 million
- Created business for fuel stations, mechanics and cinemas
- Government
- Laissez-Faire (Leave to do)
- They did not get involved
- Business did what it wanted
- Rise in consumerism
- Due to less taxes
- More money to spend
- Tariffs
- Protectionism
- Fordney- McCumber 1922
- Import tax up to 50%
- retaliatory Tariffs
- Trade Reduced
- Federal Highway Act 1929
- 10,000 miles per year
- More people could use cars
- Laissez-Faire (Leave to do)
- Banking and Credit
- Hire purchase- pay installments
- 75% cars bought on credit
- 50% household appliances
- People could buy what was previously unaffordable
- Buying stock for investment
- Borrowing money to buy stock
- Seen as how to get rich quick
- Hire purchase- pay installments
- Advertising
- Encouraged people to spend more money
- Catchy and appealing
- Celebrity Endorsement
- Red Rock Cola
- Babe Ruth
- Red Rock Cola
- Total advertising grew from $200m to $3bn
- Radio and Cinemas became popular
- Platforms for advertising
- Mellon and Hoover
- Mellon
- Trickle down economics
- Cut taxes 1921,1924,1926
- Top income tax- 77% down to 24%
- Low income tax- 4% down to 0.5%
- Policies reduced public debt
- $26bn down to $16bn-1930
- Hoover
- Promoted Aviation
- Move forward in technology
- 1927 Mississippi flood
- Set up health units to work in regions that were flooded
- Promoted Aviation
- Mellon
- Motor Manufacturing
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