Print
Word
PDF|
This section contains 128 words (approx. 1 page at 300 words per page) |
|
Economic Leader.
In the 1920s the automobile industry overtook steel as the most important sector of the American economy. Approximately 10 percent of the annual income of Americans was taken up purchasing cars and trucks and in buying gas, oil, parts, repairs, and other auto-related items. The automobile industry, led by the "Big Three" companies of General Motors, Ford, and Chrysler, fueled the upswing in the economy in the last half of the 1920s. The increasing importance of the business, however, meant that if car and truck sales slipped the entire American economy would suffer. People soon discovered just how closely the auto industry was linked to the general healthiness of the economy following the stock-market crash in October 1929.
|
This section contains 128 words (approx. 1 page at 300 words per page) |
|
