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Reflection

Examine what this advertisement is about. Reflection. The Roaring 1920s Business and Society. Consumer Economy – what is that?. Consumer Economy. Wages rose after the war Consumer Economy – depended on consumer spending! I would thrive in this system

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Reflection

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Presentation Transcript

  1. Examine what this advertisement is about Reflection

  2. The Roaring 1920sBusiness and Society

  3. Consumer Economy – what is that?

  4. Consumer Economy • Wages rose after the war • Consumer Economy – depended on consumer spending! I would thrive in this system • Installment Plans – buying on credit – why do you think this would help the economy? • “The Electric Slide” – new products depended on electricity to operate – Ex. washing machines • General Electric evolved from Thomas Edison’s electric light business • Became a billion dollar industry and one of the worlds largest companies

  5. What can I Buy?

  6. Ford and the Automobile • Car invented in 1892 – 1920 8 million on road – 15 million increase during 1920s • Henry Ford – began in a lighting company as an engineer • 1896 Ford creates “quadricycle” • 1908 he sells 30,000 model T type automobiles • “Democratize the Automobile” – assembly line • Parts came to the workers

  7. Ford and the Automobile

  8. The Assembly Line Model T every 24 seconds

  9. Ford – A Complex Man • Vertical Consolidation – he controlled every aspect of his business including raw material companies – wood, coal • Low Cost – no competition – same style • Competition – other companies emerged to challenge Ford – like Chevy – more colors • No concept for society – refused to change company with the times • Blamed Jews for world problems

  10. Automobile companies were by far the largest in the country Other industries – motels, gas stations, highways, etc. Monopolies decreased even though they grew financially “Get your kicks on Rt. 66” – Nat King Cole Industrial Growth

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