Implications of growing urbanisation & industrialisation

Question 1

how did industrialisation impact economic disparity

Answer 1

‘Unparalleled prosperity’ of the 1920s didn’t extend to all sectors of society
Affluence was most prevalent among businessmen, self-employed, shareowners

Question 2

how much did the value of shares & millionares grow by

Answer 2

Value of shares increased threefold between 1923-29

The number of millionaires increased fivefold between 1914-28

Question 3

how did NEW INVENTIONS impact industrialisation

Answer 3

Second industrial revolution = Detroit Michigan = Henry Ford Manufacturer
Assembly line
Concentrated production
Fixed-rate for workers
The automobile industry led the way for industrialisation as Ford was the first to introduce assembly lines and mass production

other inventions: vacuum cleaner, flushing toilet, the radio & TV
Due to mass production, these items were seen not just as luxury items for the wealthy, but they were readily available for all aspects and classes of society.

Question 4

what were the MARGINALISED GROUPS in terms of industrialisation

Answer 4

Working classes
Working women 
Native Americans
Working children 
Rural poor

Question 5

how was working class affected by industrialisation

Answer 5

Contributed to a rise in trade union membership: from >5m workers (1920) to <3.5m workers (1929)
Contributed to an increase in industrial discontentment → increased frequency of strikes
Subjected to limited labour bargaining power: characterised by lax safety regulations for unskilled workers
25,000 killed & 100,000 permanently disabled in workplace incidents annually
Poverty → in 1930, 60% of families lived on or below the poverty line of $2,000 per year
Inequality → 1929, the poorest 40% of the population earned <15% of national income whilst the wealthiest earned >50%