The American Economy :: american economy vibrant free market system constantly developing choices decisions made millions citizens play multiple often overlapping roles consumers producers investors voters changes organization performances manufacturing industry last century helped shape automotive perhaps biggest processes will reviewing industrialist henry ford innovative methods changed forever produced affordable car paid high wages Economics Governmental Automobiles Essays The American Economy

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The American Economy

The American economy is a vibrant, free-market system that is constantly developing out of the choices and decisions made by millions of citizens who play multiple, often overlapping roles as consumers, producers, investors and voters. The changes in the organization and performances of the manufacturing industry over the last century have helped shape the American economy. The Automotive industry perhaps made the biggest changes to their manufacturing processes. I will be reviewing the role of the industrialist Henry Ford and his innovative methods that changed the organization and performance of the American manufacturing industry forever. He produced an affordable car, paid high wages and helped create a middle class, which in turn fueled the America Industrial revolution into overdrive mode. I will also review the impact of these performance and organizational changes on the service sector and the agricultural industry. But first we look at the automotive industry.

The requirements for mass production of a particular commodity must include the existence of mass consumption of the commodity, sufficient to justify large investment. Most early automobile companies were small shops, hundreds of which each produced a few handmade cars, predominately sold to the rich. In America almost all of the producers were assemblers who put together components and parts that were manufactured by separate firms. The assembly technique also lent itself to an ad... [to view the full essay now, purchase below]

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