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Questions: History of American Capitalism: Auto Industry, Progressive Movement and the Great Depression - Coursework Example

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It turned into the modern form in the early part of the modern period in countries that adopted Protestantism in the North-Western Europe. Unlike…
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Questions: History of American Capitalism: Auto Industry, Progressive Movement and the Great Depression

Download file to see previous pages... In the U.S, capitalism grew because of people who were willing to invest their capital in big corporations with the aim of making profits. One example of these people is Henry Ford in the auto industry. Ford, a farmer’s boy, founded the famous Ford Motor Company. Even though Ford never invented the automobile, he backed the idea of mass production in the automobile industry. The capitalism principle that encourages the production of more with less made him designs a way not explored before in the industry. Henry Ford changed the auto industry by introducing cheap automobile that targeted the middle class. Through his introduction of Model T automobile, he revolutionized the auto industry by introducing the idea of Fordism, which encourages large production of cheap products with high wage for employees (Curcio, 2013).
Alfred P. Sloan is another person who influenced capitalism in the united through automobile industry. Sloan served for a long time as the Chief Executive Officer (CEO) of General Motors Corporation. He led the corporation to become the biggest company in the world. He was a shrewd, rational, and a successful manager. Between 1920 and 1950, his leadership brought concepts like industrial design, automotive design, planned obsolescence and annual model change. He thus changed the auto industry by bringing in, a unique leadership style.
Capitalism encourages the survival of the fittest in the society. Therefore, it mostly leads to the suffering of people who cannot compete well with the rest. Due to the growth of capitalism in America in the period of the great industrial growth, many people suffered. Even though great cities and big businesses developed due to capitalism, many people did not share the successes of the capitalist. The sufferings led to the creation of the Progressive Movement in the later part of 19th century and the early period of the 20thcentury. The belief that man can improve ...Download file to see next pagesRead More
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