https://padlet.com/921087/emaun247z9eydsj7 3 events, things or people that had the greatest affect on our modern economy. en-us 2020-10-04 19:31:02 UTC 2024-07-15 17:59:57 UTC hello@padlet.com 921087 https://padlet.com/921087/emaun247z9eydsj7/wish/801375578 The assembly line was the key to making many products easier to produce and more affordable to a majority of the population. It's a moving series of steps, connected by a belt that has man and machines building a final product. There could be multiple assembly lines housed in a factory to increase productivity. This made efficiency rise to higher levels. Henry Ford pioneered the use of the assembly line and one of his major products was his Model T. He said about this car, "The Model T blazed the way for the motor industry and started the movement for good roads everywhere. It is still the pioneer car in many parts of the world which are just beginning to be motorized" (thehenryford.org, 2020, para. 92). The introduction of the Model T and other assembly line products fundamentally changed society by creating greater mobility, leisure time and other modern necessities. Following initial successes other businesses were created to fulfill the need for more technological advancements.  Image - (industryweek.com, 2020).]]> 2020-10-04 23:38:34 UTC https://padlet.com/921087/emaun247z9eydsj7/wish/801375578 921087 https://padlet.com/921087/emaun247z9eydsj7/wish/801435029 The Gilded Age was guided by entrepreneurs that were able to  envision products, have them manufactured and market them to the public. These entrepreneurs covered all segments of the economy, including manufacturing, agriculture, utilities and transportation. At some times, called robber barons, as their industry thrived, they saw their flaws and wanted to correct them. They started to support hospitals, the performing arts, schools, and multiple charities to improve society. Some of these men included John Rockefeller, Andrew Carnegie, J.P. Morgan, Henry Ford and John Jacob Astor. "In 1902 he founded the Carnegie institution to fund scientific research and established a pension fund for teachers with a $10 million donation" (americaslibrary.gov, n.d., para. 2). Other examples would be, Rockefeller Center, Carnegie Hall, J.P. Morgans Charitable Giving Fund and the Ford Foundation. The legacies left by these captains of industries have left a mold for other businesses to aspire to. This has led to multiple generations of industrialists and philanthropists to be so successful. The expansion of our economy can be contributed to the lessons they taught us and we still learn from them today.  
Photo - (learn.k20center.ou.edu, 2020)]]> 2020-10-05 00:23:40 UTC https://padlet.com/921087/emaun247z9eydsj7/wish/801435029 921087 https://padlet.com/921087/emaun247z9eydsj7/wish/801491296 One of the most significant impacts of industrialization was the rise of the middle class. The workers in early industries were lifted out of poverty by increasing salaries which resulted in a large portion of society having both disposable income and more freedom. This drove the market for supply and demand. Since people had more money to spend, businesses created products to fill that demand. This was the beginning of the consumer economy.  "In 1918, only 1 in 13 families owned a car. By 1929, 4 out of 5 families had one" (worldhistory.us, 2017, para. 3). The idea of consumerism is the heart of the economy, the middle class brought this to light. Some outcomes of the middle class include, credit, the jazz age, urbanization, vacation, suburbs and the average level of education. While our economy is based on supply and demand, both are driven by the middle class.  
Photo - (historic-uk.com, n.d.)]]> 2020-10-05 00:55:22 UTC https://padlet.com/921087/emaun247z9eydsj7/wish/801491296 921087 https://padlet.com/921087/emaun247z9eydsj7/wish/801537768 (Myfootage.com, 2012)]]> 2020-10-05 01:21:58 UTC https://padlet.com/921087/emaun247z9eydsj7/wish/801537768 921087 https://padlet.com/921087/emaun247z9eydsj7/wish/801543006 (PVHS Social Studies, 2014)]]> 2020-10-05 01:25:07 UTC https://padlet.com/921087/emaun247z9eydsj7/wish/801543006 921087 https://padlet.com/921087/emaun247z9eydsj7/wish/801555184 (Reading Through History, 2019)]]> 2020-10-05 01:31:04 UTC https://padlet.com/921087/emaun247z9eydsj7/wish/801555184