Why Did American Industry Boom in the 1920's?

In: Historical Events

Submitted By bookworm5972
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The following were reasons why American industry boomed in 1920’s. i. The Impact of the car ii. Credit iii. Policies of the Republican Party. Which of these reasons do you think was the most important? Explain your answer referring only to the three points stated above. (10)
I think the most important reason why the American industry boomed in the 1920’s was the impact of the car. Ford was the first car and it was founded in 1903 by Henry Ford in Detroit, Michigan but it business really boomed from 1918 onwards. The first car produced was the ‘Model T’. Its first cost was $1200 but by 1928 it was reduced to $295 meaning it was affordable for all families so most people’s quality of life was improved. Due to the low prices and the new technology of the car, it appealed to lots of families meaning mass production was to occur to have the supply to meet the demand consequently leading to more employees for cheap prices doing small jobs. Not only did the car supply all of this but in the mid 1920’s Ford cars consumed 90% of petrol, 80% of rubber and 75% of plate glass which increased other industries profits too triggering the boom. All of these factors contributed to the industry and I believe that without these factors the boom may have happened but wouldn’t have had as bigger impact on American Industry as it did have.
However, it can be seen that credit was the most important reason for why America boomed because it meant that people had more money to spend on the consumer goods and when more money is spent, it causes an economic boom.…...

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