How Did Henry Ford Impact The Economic Landscape Of The 1920s
Henry Ford, an American inspiration, engineering prodigy, and business magnate, is the founder of Ford Motor Company, and guarantor of the development of mass production. Despite popular belief, Ford did not invent the automobile or assembly line, but established the first automobile that many middle-class Americans could rationalize purchasing. Transforming the luxe transportation into a practical conveyance, Ford profoundly impacted the economic landscape of the 1920s. Born in 1863 into a farm family in Dearborn, Michigan, Ford says, “It was life on the farm that drove me into devising ways and means to better transportation” (22). At an early age, Ford held an interest in mechanics, constantly thinking of new ways to improve an object’s
composition. At age thirteen, Ford constructed his first watch to keep time; by fifteen, he mastered assembling and dismantling timepieces. Tinkering constantly, he worked his way up the ladder and in 1891, secured a position in Thomas Edison’s, Edison Illuminating Company; two years later, he was promoted to Chief Engineer. In this role, Ford developed deeper pockets and greater time to devote his attention towards personal passions, like gasoline engines. These experiments culminated in 1896, when Ford designed a self-propelled vehicle named Ford Quadricyle. Steering much like a boat and encompassing just two speeds with no reverse, Ford returned to the drawing board. In 1898, Ford designed and built a second vehicle, the Model T Ford; however, it wasn’t the ingenuity of the first automobile that truly caught the public’s attention, but his idea of ownership. In the 1920s the economy was booming, and Henry Ford was playing a substantial role in its growth. The idea of ownership, was the conception that everyone should have access to transportation despite their social or economic status. Increasing conveniences for the lower and middle classes, allowed for the attainability of products that were previously too expensive. In order to cope with large demands, the automotive industry began to affect subsidiary companies that produced petroleum, steel and plated glass for the vehicle. Though he was not the creator, he was the first one to implement a completely new method of production. As the car travelled along the assembly line, every worker was responsible for assembling a component of the car. This technique of mass production spiraled into businesses, where they too saw the profit in generating cheap goods by the masses. Ford was not only expanding the job market, but reinventing it. Ford was a pioneer of “welfare capitalism,” where, “he believed that if you need efficiency, you should hire and work at keeping the best workers” ( ). In order to keep the best mechanics, in 1914, Ford astonished the American people by raising the minimum wage of $2.34 to $5 for qualifying male workers. Brining their best human capital and expertise from Ford’s competitors, the company raised productivity and lowered training costs. Subsequently, when well-paid workers thought life couldn’t get any better, Ford introduced a new, and reduced, workweek. “Ford believed that this would improve productivity since workers would cut down on their leisure time at the workplace and put in more effort performing their duties” ( ). The Motor Company was not the only one to benefit from leisure time, the economy did as well. With deep pockets and time-off, workers had more time purchase and consume goods. His desire to produce and constantly improve his inventions, are what led Henry Ford to become one of the most influential figures in American history. Credited with implementing the mass production assembly line, conveniences of buying for the average person, and the modern, consumer society, Ford played an enormous role in economical growth in the 1920s.
composition. At age thirteen, Ford constructed his first watch to keep time; by fifteen, he mastered assembling and dismantling timepieces. Tinkering constantly, he worked his way up the ladder and in 1891, secured a position in Thomas Edison’s, Edison Illuminating Company; two years later, he was promoted to Chief Engineer. In this role, Ford developed deeper pockets and greater time to devote his attention towards personal passions, like gasoline engines. These experiments culminated in 1896, when Ford designed a self-propelled vehicle named Ford Quadricyle. Steering much like a boat and encompassing just two speeds with no reverse, Ford returned to the drawing board. In 1898, Ford designed and built a second vehicle, the Model T Ford; however, it wasn’t the ingenuity of the first automobile that truly caught the public’s attention, but his idea of ownership. In the 1920s the economy was booming, and Henry Ford was playing a substantial role in its growth. The idea of ownership, was the conception that everyone should have access to transportation despite their social or economic status. Increasing conveniences for the lower and middle classes, allowed for the attainability of products that were previously too expensive. In order to cope with large demands, the automotive industry began to affect subsidiary companies that produced petroleum, steel and plated glass for the vehicle. Though he was not the creator, he was the first one to implement a completely new method of production. As the car travelled along the assembly line, every worker was responsible for assembling a component of the car. This technique of mass production spiraled into businesses, where they too saw the profit in generating cheap goods by the masses. Ford was not only expanding the job market, but reinventing it. Ford was a pioneer of “welfare capitalism,” where, “he believed that if you need efficiency, you should hire and work at keeping the best workers” ( ). In order to keep the best mechanics, in 1914, Ford astonished the American people by raising the minimum wage of $2.34 to $5 for qualifying male workers. Brining their best human capital and expertise from Ford’s competitors, the company raised productivity and lowered training costs. Subsequently, when well-paid workers thought life couldn’t get any better, Ford introduced a new, and reduced, workweek. “Ford believed that this would improve productivity since workers would cut down on their leisure time at the workplace and put in more effort performing their duties” ( ). The Motor Company was not the only one to benefit from leisure time, the economy did as well. With deep pockets and time-off, workers had more time purchase and consume goods. His desire to produce and constantly improve his inventions, are what led Henry Ford to become one of the most influential figures in American history. Credited with implementing the mass production assembly line, conveniences of buying for the average person, and the modern, consumer society, Ford played an enormous role in economical growth in the 1920s.