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effects of the steel tariff on US economy
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The American Boom I agree to a certain extent that without the new automobile industry the prosperity of the 1920's would not have been possible. To find out if it could or couldn't you have to look at many factors that occurred at the time. The boom was also based on other factors such as the Republican policies. Between 1920 and 1932 all the US presidents were Republican, they dominated Congress and so helped the boom occur through their beliefs. They gained and kept money in American though a number of policies. The Laissez-faire view that the president should interfere as little as possible and leave the businessman to himself. This helped the "boom" as it meant that any illegal business that was going on could occur and more money from trade, for example, could come into the country. Another policy that kept money in the country and allowed America to boom were the import Tariffs. These made it very expensive for foreign goods to be imported into the country because of large taxes on them, and so not much money was going abroad. They also protected the businessman from foreign competition and so allowed business to grow even more. Low taxes also promoted the boom by leaving people with more money to spend and so encouraging them to buy more American goods. It also encouraged wealthy people to reinvest back into American industry. Although all these factors were very important to the "boom" the car industry was a major contributor to it. The car industry was so important to the boom as it had a knock on effect to other industry. It didn't just provide hundreds of thousands of jobs for people, from which the money would go back into America, but also provided jobs in other industries such as leather, steel, rubber and glass. 75 per cent of US glass production went into making automobiles in the 1920's, and a large amount of petrol was needed to power them. All of these growing industries improved the economy of America.
This in turn helped create jobs and encourage farmers to either plant crops or not to plant crops. Even though farmers received subsidies from the government, so much was produced that there became a huge surplus. This led to major trade with foreign countries and transformed American society and government.
In this year Henry Ford created the first affordable, combustion engine car called the Model-T. The creation of the Model-T changed the lives of every American. Vehicles were looked at as a way of freedom and excitement. Soon after, every household in America had a car. The demand for vehicles sparked a whole new industry, creating jobs, more revenues and improving the American economy in every way. With so many vehicles on the roads, roads needed to become bigger and better which spawned a nation wide road construction. This also created more jobs and strengthened the economy even further. (Inventions: Car)
People now had the chance to look for gold out west and the Gold Rush began. This is when America really had its boom. Lastly, we now have twice as much, if not more, natural resources than we had before.
at the end of the 19th century. In addition of that there was only an
The 1920's were a time where North America became modernized. Whether it was the music, the culture or the growth in technology, this time era is known to most people as the point where America advanced itself to become a world renowned country. An advancement that will be focused on is the Ford Model T. During this time owning a car was a symbol of wealth. Henry Ford, the creator of the Model T, made a system that revolutionized the automobile industry as we know it today. Henry Ford made it possible for people with an average income to own a motor vehicle by creating the assembly line and the theory of mass production. "The horse, which had been the chief means of land transportation for 3,500 years, had given way to the automobile, and the country's largest industry had been born." (Gordon)
The wall street crash was bad for every one in America at the time and
The United States was also in the process of industrialization. Industries were built and electricity was the new form of power. Electric lights became available and the first movies were made. "By 1916, 21,000 movie houses were testimony of a new industry" (Hacker and Zahler 99). Automobiles became prevalent and that caused the need for roads to be built: "The early growth of the automobile industry wakened a new and much stronger demand for surfaced roads" (Hacker and Zahler 101). Henry Ford was a major contributor in propelling the automobile industry. He improved the assembly line and mass production of parts. "By 1914, the automobile industry had developed such characteristic features as standardization of parts, minute subdivision and mechanization of labor, and even the assembly line in manufacturing" (Hacker and Zahler 100). The United States experienced great social and industrial change on a national scale as well as international scale.
The main reason for the transcontinental railroads to be built was to bring the east and west together. The building of these railroads caused huge economic growth throughout the United States. The railroad created opportunities for everyone across the US.
The rapid economic expansion and changing social attitudes both contributed to the growing sense of confidence shown in the 1920’s. Due to new ideas and better working conditions, the economy was booming. More people were able to afford goods due to the fact that they could be produced in greater numbers allowing the prices to decrease. This led to significant increases in the sales of products such as cars, refrigerators, radios and cookers. A man by the name of John R. Lee mentioned that companies successfully lowered the prices of the convenient car in order to make it affordable for more people to purchase their products. Also, there were plenty of jobs with better working conditions than before the war that allowed people to step into the middle class (D). Hoover also stated that to keep the economy going, the companies would have to maintain their moral values and treat the workers well, but the workers should not try to ask for too much. The balance that he spoke of was se...
There were many primary causes for The Great Depression, Unequal distribution of money to the economy,
Because the Great Depression occurred during Hoover's term as president, in the public's mind, Hoover started his presidency as a liberal and ended it as a conservative. With the end of the Progressive Age in 1910, big business flourished because Harding, Coolidge, and Hoover kept government from intervening in the economy. Compared to the public purpose policies of Teddy Roosevelt, the laissez-faire policies of these presidents seemed extremely liberal. The invention of the production line which spurred on the Second Industrial Revolution, allowed businessmen such as Henry Ford to prosper, while automobiles and electrical appliances became available to the masses. America's success and optimism caused people to support the liberal policies of the 1920's.
Model T’s were everywhere in America, even long after Ford stopped production in 1927. (Henry) While Ford was the number one brand, selling the most cars throughout the early 1900’s, the Model T created a new industry that is distinctly American; the auto industry. Three manufacturers, Ford, General Motors, and Chrysler dominated the American auto industry, and all three companies still produce cars today. The Model T gave birth to the competitive auto market. To this day, car companies in America are constantly racing to innovate, improve, and outsell their competitors. Manufacturing of cars “became the backbone of a new consumer goods-oriented society. By the mid-1920s it ranked first in value of product, and in 1982 it provided one out of every six jobs in the United States.” (history –idk yet) The demand for cars also resulted in a booming petroleum industry, and a high demand for metals, like steel. ( History idk yet) Furthermore, with so many people driving cars, construction of roads was necessary. The popularity of automobiles set off a chain reaction that created new opportunities all across the country. All sections of the modern automotive industry, from marketing to manufacturing, as well industries like petroleum refining, steel production, and road construction, can trace their beginnings to the Ford Model
The start of this decade was an economic boom. With the war over and done, people were happy and rich. This did not last long. By the end of the century the Great Depression would begin.
During the Roaring 20’s, Henry Ford’s assembly line cut the cost of automobiles by 60% enabling the average American in the working class to buy one. He also provided many workers with unusually high wages of six dollars a day. This set the example for the majority of American manufacturers and many more products became available to Americans. As the financial and cultural gap between the upper class wealth and the lower class laborers shrank, the first urban middle class emerged. Automobiles for the most part were not a hazard to the environment, but instead improved urban environment and living conditions. Farmers gained the ability to transport their produce cheaply to new markets without need for trains.
In the early days of car making, the process was slow and costly. The average car was around eight-hundred and fifty dollars, until the assembly line was developed by Henry Ford. This process made the cost of the Ford Model T drop down to an inexpensive three-hundred dollars. The Ford Motor Company sold a total of fifteen-million Model T’s by 1927(History, “Model T”). With the cost of the Model T almost three times less expensive, it allowed the average middle-class citizen to purchase a luxury such as an automobile. This drastically increased the number of cars on the small number of roads that the United States had to offer. This led to the mass development of roads and allowed people to travel from city to city relatively quickly to buy goods and services. Roads were a huge factor in american growth. It allowed businesses to grow and expand,