People Who Benefitted From the Boom Flashcards
How did owners of consumer goods factories benefit?
Republican government believed in laissez faire which left it to businessmen to control industry
Eg ford made a fortune and reinvested money in plants like River Rouge where he employed 80,000
Able to expand businesses and employ more people
How did assembly line workers benefit?
Increase of assembly line produced goods so unskilled workers employed
Immigrants women and unskilled employment increased hugely
Women suited to jobs in electrical companies due to nimble fingers
How much did female employment increase by during the boom?
24%
More people earning money to spend on goods or invest in saving schemes for cars or radio
Why were cars the single biggest contributor to the boom?
Provided knock on effects to other businesses eg glass metal and rubber
75% glass used in car industry
Gave workers in these industries work and wages
Contributed to cycle of prosperity
How did white people in cities benefit?
Assembly lines made things cheaper
Middle classes moved to suburbs like Grosse Pointe Park
Drove model T fords
Cities provided entertainment such as jazz clubs and sports events
How did speculators on the stock market benefit?
Companies grew and offered investors the chance to buy shares on the stock market
Normal people could make money and spend it on consumer goods and entertainment
By 1929 how many were speculating?
20 million
How much was spent on shares by 1929 ?
$9 billion
How did early immigrants benefit?
Found work in new factories
Got good jobs and improved standard of living
Who persecuted early immigrants?
White Anglo Saxon Protestants
What % of workers in Fords River Rouge Plant were from immigrant backgrounds?
70%
How did middle class women benefit?
Spent on average 3 hrs per week less on housework
Joined country clubs with friends
Number of households with flush toilets rose from 20% to 51%
Vacuum cleaners rose from 9% to 30%
Washing machines rose from 8% to 24%
Fridges rose from 1% to 8%
How did builders benefit from the boom?
Road length doubled
Suburbs like Queens in NYC grew
Growth of skyscrapers
20s busiest period of building in US history
Millions of jobs given so wages were spent on consumer goods
Building involves glass wood metal bricks etc so knock on effect to workers in other industries and cycle of prosperity grew
