growing economy chapter 8 - section 2 1920 - 1929 chapter 8 - section 2 1920 - 1929
TRANSCRIPT
Growing EconomyGrowing EconomyGrowing EconomyGrowing Economy
Chapter 8 - Section 2Chapter 8 - Section 21920 - 19291920 - 1929
Chapter 8 - Section 2Chapter 8 - Section 21920 - 19291920 - 1929
OverviewOverviewOverviewOverview
During the 1920’s, mass production and the assembly line revolutionized industry and society. Wages increased and work hours decreased providing people with more time and money to spend on consumer goods. the growing automobile industry gave rise to new businesses and eased the isolation of rural properties. The airline and radio industry expanded during the 1920’s and advertising became an important tool for selling goods. While many people benefitted from the prosperous economy, farmers suffered the most from falling agricultural prices.
During the 1920’s, mass production and the assembly line revolutionized industry and society. Wages increased and work hours decreased providing people with more time and money to spend on consumer goods. the growing automobile industry gave rise to new businesses and eased the isolation of rural properties. The airline and radio industry expanded during the 1920’s and advertising became an important tool for selling goods. While many people benefitted from the prosperous economy, farmers suffered the most from falling agricultural prices.
RadioRadioRadioRadio
Radio broadcasted:
Baseball
Boxing
Drama shows
Music
News
Radio broadcasted:
Baseball
Boxing
Drama shows
Music
News
Radio and SportsRadio and SportsRadio and SportsRadio and Sports
Economic prosperity of 1920’s
People went to games, theatre, concerts, dancing
Radio broadcasted games live
Economic prosperity of 1920’s
People went to games, theatre, concerts, dancing
Radio broadcasted games live
Hollywood / Music / Radio Hollywood / Music / Radio ShowsShows
Hollywood / Music / Radio Hollywood / Music / Radio ShowsShows
Sound not possible for films
1st broadcast was of Hardings Presidential election
Radio broadcasted dramas, westerns,
Sound not possible for films
1st broadcast was of Hardings Presidential election
Radio broadcasted dramas, westerns,
Poets and WritersPoets and WritersPoets and WritersPoets and Writers
Enerst Hemmingway
A Farewell to Arms
F. Scott Fitzgerald
The Great Gatsby
Enerst Hemmingway
A Farewell to Arms
F. Scott Fitzgerald
The Great Gatsby
Rising Standard of LivingRising Standard of LivingRising Standard of LivingRising Standard of Living
1920’s - Increased living standard
People made more money on avg 22% - 25% more
U.S. Steel changed work from 12 hr day to 8 hr day
International Harvester co. started 2 week paid vacations
1920’s - Increased living standard
People made more money on avg 22% - 25% more
U.S. Steel changed work from 12 hr day to 8 hr day
International Harvester co. started 2 week paid vacations
Change in Business Change in Business Change in Business Change in Business
Many companies allowed employees to buy stock / receive benefits / medical care / profit sharing = “Welfare Capitalism”
“Open Shops” - Many companies avoided union issues by offering employees better pay & benefits
Many companies allowed employees to buy stock / receive benefits / medical care / profit sharing = “Welfare Capitalism”
“Open Shops” - Many companies avoided union issues by offering employees better pay & benefits
Charles LindberghCharles LindberghCharles LindberghCharles Lindbergh
Won Orteig Prize
Spirit of St. Louis
flew from Long Island NY to Paris France (25 yrs old)
Awarded the Medal of Honor
Won Orteig Prize
Spirit of St. Louis
flew from Long Island NY to Paris France (25 yrs old)
Awarded the Medal of Honor
New Consumer SocietyNew Consumer SocietyNew Consumer SocietyNew Consumer Society
New products in 1920’s
People concerned about hygiene - mouthwash / deodorant / cosmetics / perfumes /Household Cleaning products / vacuums cleaners washing machines / Elec. Irons / elec. shavers / refrigerators / gas stoves / cookware /
New products in 1920’s
People concerned about hygiene - mouthwash / deodorant / cosmetics / perfumes /Household Cleaning products / vacuums cleaners washing machines / Elec. Irons / elec. shavers / refrigerators / gas stoves / cookware /
Credit became readily available - buy now, pay later
75% of People bought radios and cars on installment plans
Mass advertising - consumer appeal
Commercial
Commercial
Credit became readily available - buy now, pay later
75% of People bought radios and cars on installment plans
Mass advertising - consumer appeal
Commercial
Commercial
Consumer Society - CreditConsumer Society - CreditConsumer Society - CreditConsumer Society - Credit
Radio CommercialRadio CommercialRadio CommercialRadio Commercial
OvaltineOvaltine
Rice KrispiesRice KrispiesRice KrispiesRice Krispies
Radio IndustryRadio IndustryRadio IndustryRadio Industry
1920 - Pres. Hardings election - one of the first radio addresses
NBC - 700 stations across U.S.
Sales went from $12 mil.yr 1921 to $842 mil yr. in 1929
CBS - Colombia Broadcasting system - competed with NBC
1920 - Pres. Hardings election - one of the first radio addresses
NBC - 700 stations across U.S.
Sales went from $12 mil.yr 1921 to $842 mil yr. in 1929
CBS - Colombia Broadcasting system - competed with NBC
Airline IndustryAirline IndustryAirline IndustryAirline IndustryAircraft industry began (Glenn Curtis)
Military bought planes
Post office - airmail / Flew mail from Washington to NY / Expanded to entire U.S.
Air Commerce Act - Fed Funding for airports
1928 - 48 Commercial Airlines in U.S.
Aircraft industry began (Glenn Curtis)
Military bought planes
Post office - airmail / Flew mail from Washington to NY / Expanded to entire U.S.
Air Commerce Act - Fed Funding for airports
1928 - 48 Commercial Airlines in U.S.
Auto Industry - Assembly Auto Industry - Assembly LineLine
Auto Industry - Assembly Auto Industry - Assembly LineLine
Henry “Installed” first assembly line
Increased manufacturing efficiency
produce car every 93 minutes (Prev. 12hrs)
By 1925 - 1 car off assembly line every 10 sec.
Henry “Installed” first assembly line
Increased manufacturing efficiency
produce car every 93 minutes (Prev. 12hrs)
By 1925 - 1 car off assembly line every 10 sec.
Model - TModel - TModel - TModel - T
Model T - first assembly line car
1908 - $850 / 1914 - $490 / 1917 - $360 / 1924 - $295
1920 - over 9 mil. cars
lower cost = increased sales
Ford factory workers wages = $5 day
Model T - first assembly line car
1908 - $850 / 1914 - $490 / 1917 - $360 / 1924 - $295
1920 - over 9 mil. cars
lower cost = increased sales
Ford factory workers wages = $5 day
Impact of CarsImpact of CarsImpact of CarsImpact of Cars
Opened new types of jobs and businesses
Changed “Rural Life” - most towns now in reach
People began to commute to work
Opened new types of jobs and businesses
Changed “Rural Life” - most towns now in reach
People began to commute to work
Farm CrisisFarm CrisisFarm CrisisFarm Crisis
Did not share in the prosperity of the 1920’s
Able to produce more - demand was low = low price
Called = Quiet Depression
Did not share in the prosperity of the 1920’s
Able to produce more - demand was low = low price
Called = Quiet Depression
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Questions???Questions???H.W. - Ch.7 Sec.2 H.W. - Ch.7 Sec.2
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