KELSEY ISSY MATT & MICHAEL

The New Economy

Technology & Economic Growth

In the 1920’s the nations manufacturing outpost rose by more than 60% during the decade.

An immediate cause was the ruin of European industry after WWI. This made the U.S the only healthy industrial country for a short time.

Items during this time period included the radio, the airplane, home appliances, trains, and synthetic fibers such as nylon

Economic Organization

Modern Administrative System- General Motors or GM for example was the largest automobile manufacturer

It was also the 5th largest American corporation

Trade Association- a national organization created by various members of an industry to encourage coordination in production and marketing techniques

Labor in the new Era

The economic growth was accompanied by a continuing and increasing in , maldistribution of wealth and purchasing power.

American workers experienced both success and failure in the 1920’s

Most workers had an increase in their standard of living , and had good working conditions and benefits.

On the other hand, labor organizations weren’t successful because unions were conservative and didn’t adapt to the modern economy.

Women & Minorities

Pink Collar Jobs- law paying occupation with many of the same problems as manufacturing employment.

Women: secretaries, salesclerks, telephone operators, etc.The Brotherhood of Sleeping Car Porters led by A. Phillip

Randolph. A vigorous union that increased wages and shorter work hours.

In the West and Southwest, the ranks of unskilled workers included mainly Asians and Hispanics.

Chinese and Japanese: railroads, construction, farms, etc.Mexicans: factories, shops, mines, etc.Face discrimination and hostility.The under populated areas needed the low paid and

unskilled workers to survive.

The American Plan

The large companies tried to counter unions by banning striking and protests.

Agricultural Tech. & Plight of the Farmer

American agriculture in the 1920’s was embracing new technologies for increasing populations.

35 million new acres were found (new technologies greatly increased agricultural productivity)

Price rising scheme in particular came to dominate agrarian demands: the idea of “parity” or a complicated formula for setting an adequate price for farms.

McNary- Haugen Bill was the legislative expression of the demand for the parity

This was introduced repeatedly between 1924 and 1926