ECON 2200 Lecture Notes - Lecture 18: Clayton Antitrust Act, Calvin Coolidge
14 May 2018
School
Department
Course
Professor
ECON 2200
Lecture 18
• Advertising
o Newspaper, magazines, radio
1. Provided info about availability of new products
2. Provided info about prices
3. Provided info about installment plans
Not just what you can buy, but how you can buy it
D. Manufacturing boom:
• 1919-1929: Production rose by nearly 2/3
• 1919-1929: Automobile output tripled
o Supported growth of steel industry
o Contributor to growth in other areas like glass (for windows),
etc. – parts for the cars
o Note (from video clip) the impact of Ford’s mass production
techniques have on other industries
o Ford started and pushed for 40 hours workweek
• High investment in technology/capital
o Electricity – about 1/3 of industrial power generated by
electricity
1. more efficient power source
2. lower per-unit cost
o Older plants replaced/rebuilt
1. Increased labor productivity
Increase in capital typically increases productivity
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