History Flashcards
Lassez faire
Government policy of interfering as little as possible
Speculation
Buying shares on the stock market
Assembly line
Line of workers and machines in a factory assembly product
Mass production
Manufacture of goods on a large scale
Consumer goods
Manufactured goods available to buy the majority of ordinary people e.g vacuum cleaners
1913
Henry T Ford pioneered the assembly line
1914
Mass production saw items decrease and become available e.g car 1914 $850 to 1926 $295
1917
USA entered ww1
1921
5 million men unemployed
1922
Recovery of economy
1923-1929
President Calvin Coolidge
1925
Half the world cars were model t’s
1929-1933
President Herbert Hoover
1929
Most us cities have electricity
1910 economy
Good raw materials , coal, iron, oil
Cheap labour=immigrants
Who didn’t benefit from the economic boom
Farmers Black people Sharecroppers People in rural areas Coal minors Textile workers New immigrants
Causes of the economic boom
Hire purchase and credit Core goods Convenient shopping Electricity Mass production Advertising
Ww1
Entered in 1917therefore could trade with allies
trade= food/ raw materials munitions
countries borrowed money from the USA
By 1918= USA world leading economy
New technological advances- mechanisation/ plastics =all developed
USA now led the world to new technology
Who benefited
Owners of consumer goods factories Speculators on the stock market Middle class women Early immigrants Assembly line workers White people in the cities
