America as a Land of Prosperity in the 1920's

Only available on StudyMode
  • Download(s) : 469
  • Published : May 5, 2010
Open Document
Text Preview
America as a Land of Prosperity in the 1920's is the story of Americans who searched for equality. Yes, for some individuals America was a land of prosperity in the 1920's. The First World War sparked Americas rise in prosperity. As no fighting took place on American soil there were virtually no reparations to be paid, also America had entered the war late and therefore, had not spent nearly as much money as the big European countries such as France, Britain, and Germany. This left America in a very prosperous position. Another key reason to Americas rise in prosperity was a man named Henry Ford. Henry Ford was a car producer who thought of the "mass production" method. This method used assembly line techniques, whereby each stage of the car production was carried out by a different team of workers who specialized souly in their specific area. This had a huge impact! The method was introduced in 1913 and by 1929; 26 million cars were registered in the U.S.A compared to only 9 million in 1920. That is an increase of nearly 300% in just 9 years! However, the benefits of the ford company stretched beyond just the automobile industry during the 1920's, people also started moving into the cities from the rural areas. In 1920 more than 50% of people lived in the cities which were an increase of more than 50%. Another reason for the rise in prosperity was the introduction of hire-purchase, whereby you put a deposit down on an item that you wanted, and paid installments on that item with interest, so you would pay back more than the price for the item. High purchases were easy to get and people got into debt without any real planning for the future. In the 1920's it just seemed to be the case, that if you wanted something, then you got it, this had a major economic impact; somebody had to make what was bought. This was the era before robot technology and work done by laborers. The person who made that product would get paid and he would not save all of the money....
tracking img