Transcript What Hath Ford Wrought

What Hath Ford Wrought
Focus Question
• Describe three ways the invention below would
transform society:
Focus Question
• Describe three ways the invention below would
transform society:
Mellon’s Economic Plan
• Slash taxes for the wealthy
• Opens up funds for investment
• Allows economy to grow
• Improve government efficiency
• Import new business techniques
to government
• Eliminate waste, fraud, and abuse
• Raise certain government fees
Results
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Number of Millionaires tripled
More money invested in business
New construction boomed
The Stock Market Soared.
Role of Demand
• Economies are fueled by Demand
• If Demand is low, Supply loses importance
• The 1920s demand was built by one major industry and two
lesser ones
The Importance of Ford
• Ford’s policies revolutionized the economy
• Model T priced low enough for the masses
• Salary of $5 a day set a new wage scale
• Assembly line techniques
increased production dramatically
The Model T
• Second most popular car model in history
• Durable and inexpensive
• Cost $290 in 1923 ($3,480 today)
• 2 million produced annually
Transformed America
• Sponsored numerous industries
• Required new construction
• Roads, bridges, parking lots
• Allowed for growth of suburbs
• Led to the construction boom