Inventions Leading to Consumerism
Model T:The Model T is one of the inventions that defined the 1920's. It's a car that represented material wealth for all, considering it was one of the first cars the middle class could afford.
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Radio:The radio provided an easy way for businesses to communicate to the consumer. This was one of the ways mass advertising was introduced in the 1920's.
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The Assembly Line:The assembly line allowed the production of cheap goods. For the first time, the work controlled the worker rather than the other way around.
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Feeding the Stock MarketDuring the 1920's, the changing of one's thinking from carefulness to daring led to many investing in the stock market. Of course, with a lot of people investing in the stock market, stocks go up. People would buy stocks on margin, borrowing stocks from businesses. While this helped them buy bigger stocks, it was a massive risk, relying on the idea that stock prices would continue to rise, ultimately leading to the utter chaos of the stock market crash.
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A Developing Middle ClassBefore the 1920's there was a distinct lack of people in the middle class. You were either very wealthy or very poor. However, when ford offered higher pay for his assembly line work, along with other benefits, the middle class began to emerge. With a growing middle class, businesses started profiting, making the economy boom. Businesses were able to target the middle class to sell items they couldn't before.
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