USA 1920-55, boom and crash

Economic boom (1920s)

• In the 1920s there was a sense of prosperity, with production of industrial goods rising by 50% between 1922 and 1929 and unemployment never rose above 3.7%.
• HOWEVER not all groups benefitted.
• Industries were modernised, with modern manufacturing techniques such as mass production and management science.

Mass production:

• Moving assembly lines.
• Workers contributed to one part of the process rather than manufacturing the goods themselves.
• Lowered cost of common goods.
• Developed by motor vehicle manufacturer Henry Ford.
• By 1920, Ford were producing 1,250,000 cars per year or one every 60 seconds.
• 1925: could produce 1 car every 10 seconds.
• Price of a 'T Model' fell from $950 in 1914 to $250 in 1925 due to mass production.
• The introduction of standard clothing sizes across USA during WW1 allowed the mass production of clothing.

Automobile industry:

• Mass production allowed automobiles more accessible.
• Cars prompted Americans to travel more - tourism…