These made industry more efficient and cheap to run.
Electricity
Plastics
Conveyor belts
Concrete Mixers
Mass Production
Pioneered by Henry Ford
Taken on by all industries
Faster and cheaper
Assembly line
Annotations:
This made work faster and cheaper because each worker had a small, repetitive job and machines were doing the difficult work.
Mass Marketing
Huge amounts spent on it
Newspapers
Radio
Cinemas
Billboards
Aware of products
Products looked desirable
Key markets
Flappers
Housewives
Businessmen
Credit
Hire purchase
Installments
"Buy now, pay later"
Confidence
Didn't see risk
Boom never end
USA= richest country
Annotations:
The USA was the richest country in the world, this meant that people thought that they shouldn't have to worry about the price of things.
Republican Policies
Harding, Coolidge & Hover
Annotations:
They were the presidents who started putting tariffs on foreign goods.
Lowered taxes on American goods
Annotations:
This meant that people were more likely to pay for American products.
'Buy American'
Annotations:
This mean that all of the American money stayed in America.
Laissez Faire
Annotations:
This means that the government doesn't interfere with businesses, it allows them to run them the way they want to. For example letting them set their own wages and enforcing their own working conditions. Business men made high profits!!