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Keen to learn but short on time? Get to grips with the life of Henry Ford in next to no time with this concise guide.
50Minutes.com provides a clear and engaging analysis of the life and career of Henry Ford. Prior to the early 20th century, a car was a luxury that only a privileged few could afford, but this all changed thanks to Ford. His moving assembly line drastically reduced the cost of vehicles such as the Ford Model T, and he raised wages so that workers could buy the cars they built. His innovations changed the face of industry, and paved the way for mass production and consumption.
In just 50 minutes you will:
• Learn about Ford’s early life and career before founding the Ford Motor Company
• Understand the success of his production line and the Ford Model T
• Discover the impact of his innovations on American industry and society
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Seitenzahl: 30
Veröffentlichungsjahr: 2017
Although Henry Ford did not invent the petrol-powered car and was far from the only automobile producer in the early 20th century, he was different in that he understood that this invention would change the world. At a time when owning a car was a luxury reserved for the privileged few, he dreamed of making automobiles accessible and allowing every family to obtain one.
On 1 October 1908, the Model T, a small car produced by the Ford Motor Company, came out of the factory on Piquette Avenue in Detroit. Simple, sturdy and above all affordable, the Model T was so successful that over 15 million were sold between 1908 and 1927.
To achieve this, Ford revolutionised the process of automobile production by introducing the division of labour (each worker is assigned a single very specific task) and the moving assembly line (the product being put together moves automatically from one post to another, so that the workers no longer have to move around). In this way, he managed to reduce selling prices and double workers’ salaries while maintaining the quality of the product. Subsequently, the principle of the assembly line was widely applied in industry, and contributed to the development of the mass production and mass consumption which characterised 20th-century society.
From the 19th century onwards, Western nations were working towards progress. Industrialisation and economic growth went hand in hand, fuelled by various technological innovations and the discovery of new energy sources. The change from a society which until that point had been mainly agricultural was so radical that it is generally described as the Industrial Revolution.
The First Industrial Revolution began in Britain in the second half of the 18th century, thanks to the growth of the metalworking and textile industries, the invention of the steam engine and coal mining. After centuries of traditional, small-scale production, Europe and then the world as a whole saw the development of large-scale production in specialised factories. The Panic of 1873, a financial crisis which resulted in a depression in Europe and North America, briefly interrupted this momentum, but growth resumed from 1880 onwards thanks to the Second Industrial Revolution. This new revolution was based on the innovations brought about by the use of electricity, gas and oil, as well as the chemical industry.
From then on, many businesses were founded and took advantage of the possibilities of each new sector (electricity, automobile, etc.), and the number of investors, who provided the necessary capital, rose considerably. Thanks to the growing wealth of the most industrialised countries and the extension of markets across the world, demand was constantly increasing. There was great enthusiasm for technology, which had provided light, the petrol engine, the telephone and the film projector. However, optimism and creativity once again ground to a halt in 1929, with the beginnings of a global economic crisis.
