The 1920s saw economic prosperity in the United States driven by new technologies like the automobile, mass-produced by Henry Ford using assembly lines, and installment buying, which let consumers purchase expensive goods without full payment up front. However, this led many to take on more debt than they could handle. When the stock market crashed in 1929, wiping out stock values, businesses closed and Americans lost their jobs en masse, plunging the country into the Great Depression with unemployment reaching 33%.
2. The Automobile The automobile played a huge role in the prosperity of the 1920s. The leader of the automobile prosperity was Henry Ford, who figured out a way to mass produce the Model T by using the assembly line, where one person puts together one part of the car. This is one of the most revolutionary findings of all time.
3. Installment Buying Installment Buying is another major reason to the great depression, because the average factory worker in the United States could buy a car or other expensive things without the money and expecting to earn the money over time with out it on hand.
4. The Stock Market The Stock Market was the reason for the great depression, because of installment buying, the consumer was biting off more then it could chew because they would have to repay the loans they borrowed from the bank, but could not because their stocks have decreased in value so much they could no longer make a profit from their stocks. When the stock market crashed the money that everyone has gained vanished into thin air because they waited so long to cash in their stocks.
5. American Joblessness Because of the crash of the stock market many of the American businesses to close causing many Americans to get layed off. At one point in time joblessness in America reached thirty three and a third percent, leaving the country in the great depression.
6. Glog Reflection I did really liked the idea of having to do a glog for this project. I think that there were many different ways to do this other then a glog, but it helped me better understand web 2.0 tools. There were many different ways to do this project by just doing a power point or pages, but would not have helped me learn about this amazing tool.
