Factors that led to economic growth....
Process of Standardized Mass Production:
Sources of Economic Boom:
Questions to Consider:
- helps to reduce production costs
- leads to using better machines in better factors
- leads to higher production in factories creating more revenue
- wages will rise as a result with more $ to spend on consumer products
- increased deand for consumer goods
Sources of Economic Boom:
- Technology boom for industry (result of WW1)
- Scientific Management, "Taylorism"
- Increase in Worker Production, "Fordism"
- Advertising and Consumption
- Politics of 1920s
Questions to Consider:
- What changes took place in industry during the 1920's?
- What was the impact of technology on industry, advertising, and consumerism?
- Compare the culture of consumerism of the 1920's with that of today. Do you notice any similarities?
- Discuss the relationship between government and business in the 1920's.
- Trace the arc of prosperity over the decade for the average American. How did the standard of living change?