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The 1920s: a time of prosperity

The 1920s: a time of prosperity. During the 1920s, the United States’ economy grew significantly. 1. Manufacturing output rose more than 60% 2. Gross national product (total of goods and services) rose 5% a year 3. Industrial output per worker grew 33%

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The 1920s: a time of prosperity

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  1. The 1920s: a time of prosperity During the 1920s, the United States’ economy grew significantly.

  2. 1. Manufacturing output rose more than 60% 2. Gross national product (total of goods and services) rose 5% a year 3. Industrial output per worker grew 33% 4. Per capita income grew 30% with virtually no inflation

  3. To put that into perspective… A factory used to make 200 chairs in a week. Now that manufacturing output rose 60%, the factory makes how many? • 200 X 1.6 ( 100 % of original plus 60% increase) = _____ • 320 chairs

  4. Output per worker grew 33% (1/3) in the 1920s, so… • Jimbo works at a comb factory and he made 900 combs a day. How many does he make now? • 900 X 1.33 (1 1/3) = ______ • 1,200 combs! • Which means more combs, and less tangled hair for everyone!!!!

  5. This was due to many different reasons: • During WWI, the European economies were destroyed. This left the U.S. as the only major industrial nation. • The presidents of the 1920s put business at the top of their list of priorities for the country. • The growth of advertising in mass-circulation magazines such as Time, Reader’s Digest, and the Saturday Evening Post

  6. More reasons for economic boom… • Technology innovations allowed for expansion, particularly in the auto industry. -1.5 million cars sold in 1920, 5 million in 1929 - with more cars, people could spread out • Cheap, readily available energy sources (coal, oil) made expansion affordable.

  7. Possibly the most significant advancement was the assembly line.

  8. Seabiscuit • http://www.youtube.com/watch?v=S4KrIMZpwCY

  9. PB & J factory

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