HST 306, Lecture Notes (September 11, 2013):
The Roaring Twenties: The Roar That Failed
*From mass market to mass unemployment*
I. Post World War I Prosperity:
a. Sharp Recession (1920-21):
b. “New Era Prosperity”-Based on mass market for consumer products:
c. Stock Market Mania of 1928-29
d. Uneven Benefits
e. Weak Foundation-Growth of Debt and credit
II. How Michigan Put the Roar in the Roaring Twenties:
a. Michigan automobile manufacturing created jobs and income growth.
b. Importance of Ford, Olds, Durant, Chrysler, etc.
c. Cars and Trucks provided:
i. Greater Speed
ii. Lower coast of shipment
iii. Expanded flexibility
iv. Expanded zone of competition.
III. Biography of Henry Ford Video;
a. World’s top industrialist, personal fortune of 700 million dollars.
b. Went from farmer (where he felt trapped), and then moved to Detroit at 28 and began
working at a power plant.
i. At night he worked o