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• 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