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American industry boom

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Introduction

Why did the US economy boom in the 1920's? There were several reasons why the US economy boomed in the 1920's.However one of the main reasons was the mass production of Ford cars. This helped the US economy for the reason being that to produce a car several materials are needed steel, glass etc. With every car made more materials were used and more needed therefore more people were employed. This was especially important when the 'magic belt' was brought in since every person was assigned to one small job. This helped the US economy grow since before Ford cars were produced people could not afford automobiles, yet when the Ford automobiles were made at a small price a great deal of people purchased them this made companies such as listed before (steel, glass etc) ...read more.

Middle

As a result many companies grew making more money from rubber, oil, food to even house companies all this influenced how much the US economy boomed and much more. Another reason why the US economy boomed was because of the weak unions this not only helped the US economy boom but affected the normal workers of there rights. The reason being that employers were allowed to use violence to break strikes therefore the workers would be afraid to speak out if the wages they were being paid was a extremely small amount this meant that the more people who were afraid to argue against the employers would be paid less meaning the economy would gain more. ...read more.

Conclusion

Even though the prices of the cars had gone down and there were more jobs for people meaning they could make more money and the wages were rising they introduced hire purchase, this enabled customers who could not pay the amount in one go pay a small deposit and pay the rest in weekly or monthly payments this meant that people would not be put off if they could not afford to pay meaning that they would be more accepting and eager to purchase it. However this is not the only factors that caused the American industry to boom there was several other reasons that it became extremely high in buyers. ...read more.

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