Explain any four measures adopted by America for post-war recovery.
The US recovery was quicker than the European countries. The war had already helped the US economy. There was, however, some trouble after the war but the US economy , grew in the early 1920s due to following measures : Mass production : The growth of US economy was due to mass production. Car manufacturer Henry Ford made significant contribution in this field. He adopted the assembly line of a Chicago slaughter-house in his new car plant in Detroit. As a result of this method, production of cars increased and a car was ready every three-minutes The T-Model Ford was the world’s first mass-produced car. Hire purchase system : Increase in wages led to a spurt in the purchase of refrigerators, washing machines, radios etc. through a system of hire purchase i.e., on credit repaid in weekly or monthly installments. This demand was further increased by a boom in house construction and home ownership, financed again by loans. The housing and consumer boom led to prosperity in the US. Large investments in housing and consumer products led to higher employment and income. In view of the above factors there was quicker post-war recovery. In 1923, the US resumed exporting capital to the rest of the world and became the largest overseas lender. US imports and capital exports boosted European recovery and world trade and income growth.
