[10] industrial growth

• Aftermath of World War I

  1. Stimulated technological advancements

  2. Increased demand for goods

  3. Led to expansion of industries such as steel, automobiles, and consumer electronics
• Industrial expansion

  • Automobile production skyrocketed from 1.9 million to over 4.5 million units annually between 1919 and 1926
  • Growth in related industries like rubber, glass, and petroleum
• Government policies during the 1920s


  • Favored business expansion
  • Reduced regulations and taxes on businesses
  • Allowed corporations to thrive and invest in new technologies
• The 1920s witnessed a surge in consumerism and mass production techniques, epitomized by Henry Ford's assembly line method
• Ford's Model T

  • Introduced in 1908 but made more affordable through efficient production methods
  • By 1927, Ford had produced over 15 million Model T cars
  • Revolutionized transportation and stimulated ancillary industries such as road construction and oil production
• New industries in the 1920s

  • Radio broadcasting
  • Motion pictures
• New industries

  • Became popular forms of entertainment and mass communication
  • Created new markets and employment opportunities
• Despite the economic prosperity, the benefits of industrial growth were not evenly distributed
• The decade witnessed significant income inequality, with a small percentage of wealthy individuals controlling a disproportionate share of the nation's wealth
• The reliance on credit and speculation in the stock market led to the unsustainable financial practices that culminated in the Great Depression of the 1930s
• The rapid growth of new industries during the 1920s was fueled by technological innovation, favorable government policies, and a burgeoning consumer culture
• This period of economic prosperity also laid the groundwork for the challenges and crises that would follow in the subsequent decade