Credit gave people time to pay off the cost of the product. Henry Ford was the first factory owner who believed that if he payed his workers more they would be happier and work would be superior, he raised their wages to $5 a day. In 1925 having industrious workers Ford was able to create an assembly line, for his Model T cars, to be built every 24 seconds. This mindless and fast repetitive work rather than the slow work by skilled craftsmen was less expensive for factory workers and allowed for an increase in affordable consumer goods. Scientific management and time-motion studies created a greater knowledge of production.
In order for corporations to make money, they produced things related to the rising popular culture.  The rise of this new culture was due to an increase of cities, rise of a consumer society, and the change in morals and behavior.  During the twenties, more than half of the population lived in cities. New social classifications were created: laborers and managers, blue collar and white.  There was also a rise of leisure time, emergence of an urban middle class, technological advances, and an increase of wages.
Aware of the extra-money available to working families, the different pieces of a Big Business have acted in such a way to suck that extra-money from the poor families. Accordingly, railroads raised their prices on food suppliers; Standard Oil increased their fuel prices. In addition large grocery and department stores have added a greater price to their goods as well. As a result, the cost of living from 1870-1900 stayed approximately constant despite decreasing food and fuel prices. For the great majority of Americans, their standard of living remained the same, or even declined in response to the rise of tenement housing and an influx of immigrant workers.
Explain why the US economy ‘boomed’ during the 1920’s? An economic boom is the rapid growth in a country’s money making that leads to increased prosperity and wealth. The 1920’s was a time of extreme highs and lows, a time of dramatic changes in society and many new inventions. Many American industries boomed in the 1920s, with the economy doubling in size. This economic boom was based around consumer goods-luxury items that many Americans wanted to buy but didn’t really need.
LaDairron Ward September 6, 2015 Intro Business Professor Stephens Assign1 When bringing up the discussion of the 1990’s and business there is a lot to think about such as how there have been many establishers that helped construct the business industry in the 1900’s. Besides the Great Depression that happened, the 1900’s were really good years because there was a strong growth in the economy, rising productivity and steady job creations. A lot of the businesses that were developed after the Depression helped to improve the economy. Most of the time business developers build a business just to say that they were successful at doing so. When owning a business its safe to say that you’re a successful business owner when your business is bringing
This brought about basic changes in lifestyle of Americans. More people could afford new housing, and many people moved to houses in suburbs, which were bigger and had more open spaces. Movement to suburbs was also partly due to better school facilities for children. * At the end of the decade, the median American family had 30% more purchasing power than at the beginning. Inflation, which had wreaked havoc on the economy immediately after World War II, was minimal, in part because of Eisenhower's persistent efforts to balance the federal budget.
From the railroads in the past, we have learned that faster transportation is better. Everything we need travels by boat or train or plane because we understand that is one of the most successful forms of transportation. Bye replacing home-based workshops with factories we have been able to grow our production rates which in the long run put our selling rates high. By switching from hand tools to large machines we have also been able to cut our jobs down, which allows for more money in the pockets of the business men. The industrial revolution has helped the nation and economy grown so much over the time but we know, nothing is perfect.
The stock market was a place where you could invest in stocks basically buying a share in a certain business. The stock market put America in the golden age and virtually abolished poverty in the 1920’s. The many changes in the economic, social and political changes in the twenties had a huge impact on American life. We had a very successful era and it show that we can rebuild America, as we know
The Roaring 20’s The “roaring twenties” also known as the New Era was a decade of growth after World War I that ended in post-war America. During this time America was full of prosperity, growth, and the standard of living rose greatly as more people began living in urban areas. Throughout this decade many changes occurred including new inventions, technology, cultural developments, and the overall transformation of the American-society. The major characteristics of the twenties were interrelated with the development and influences of a greater society and shared a variety of common causes. The development of new inventions and technologies had a huge impact on America during this era as they became crucial in most people’s lives.
Reasons for the economic boom in the 1920s America experienced an economic boom after World War 1 ended because of many different factors. There was a rapid increase in industry and this caused many more people, including women to become employed and to earn their own money. Many new industries were created in the 1920s; one of the rapidly increasing industries was the car industry. Henry Ford revolutionised the production of cars by creating mass production. This meant that people had one specific job on the production line that they repeated over and over so they became very good at this one job, this meant that the T-ford model could be produced every 10 seconds.