Henry Ford, Assembly Lines and the Model T
Notes:
- begins selling cars in 1915 for $440
- by 1925 a record 9109 cars are made in one day. The lowest prices is $290 (supply and demand)
- 15 million made by 1927
- most of the manufacturing is done in Detroit (Motown)
- introduction of assembly line and factories increases output
Summary: When Henry Ford introduced the assembly line, manufacturing cars was far more productive, and changed the automobile industry forever.
Subjective question: Would the depression be as bad if cars weren't overproduced?
Quote: "There is one rule for the industrialist and that is: make the best quality goods possible at the lowest cost possible, paying the highest wages possible."
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