STEVE EMBER: Changes in the American market also helped economic growth. "Installment buying" became popular. In this system, people could buy a product and pay for it over a period of several weeks or months.
The total cost was higher, because they had to pay interest. But the system made it possible for more people to buy more goods. It also made the idea of borrowing money more acceptable to many Americans.
SHIRLEY GRIFFITH: The growing importance of the New York stock markets also helped economic growth in the nineteen twenties. Millions of Americans bought shares of stock in companies that seemed to grow bigger every month.
Such investment almost became a national game. People would buy shares of stock, then sell them when the stock rose in value. There were many stories of poor people who became rich overnight by buying the right stocks.
The American Congress also helped the economy by lowering income taxes. People had more money to spend on new goods. Another important reason for economic growth was a change in the way American companies were operated.
STEVE EMBER: During the nineteen twenties, the idea of manufacturing goods in the most scientific way became very popular. The father of this idea of "scientific management" was an engineer, Frederick Taylor.
Mister Taylor developed a system to study manufacturing. He studied each machine involved in the process. He studied how much work each person did. He studied how goods moved from one part of a factory to another. Then he offered ideas to business owners about ways to produce goods faster and for less cost.
最新
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25