Mass Consumption, Market Crash, and Post WWII Consumerism Transcript
Speakers: Narrator, Speaker 1, Speaker 2
(Music)
NARRATOR: As the 20th century drew near, the world prepared to face massive upheavals. Continuing the trend of the Industrial Revolution, the production of clothing, shoes, and household articles exploded. This wave of new products propelled trade into a new era of its history. It was the beginning of mass consumption.
SPEAKER 1 (Speaking in French, translated): The Industrial Revolution established two strategies. France specialized in luxury goods and England specialized in more democratic production. Great Britain won out over France in industrialization because having opted to sell cheap goods to a huge market, the British found it extremely easy to invade foreign markets. France took more time because the French specialized in luxury goods where the market was much more limited.
(Music; machines steaming)
NARRATOR: Better production techniques developed the mass market but another contributing factor was improved means of communication that made it easier to reach geographically isolated consumers.
(Machines scratching; music)
During this period, the first department stores made a fortune in the mail order market. In 1895, there were 532 pages in the Sears catalog. It sold everything. Massive urbanization also played its part in creating the consumer society.
(Horse hooves clopping; music)
Unlike people working on the land, people working in factories or offices were totally dependent on farmers for food, clothing, or furniture. The flood of new, cheap products created new needs. As incomes rose, so did consumption.
(Music; crowd roaring)
The Wall Street crash of 1929 plunged America and the world into an unprecedented economic crisis. In the years following, consumption collapsed and unemployment shot up. To protect their national industries, countries adopted protectionist policies.
SPEAKER 2 (Speaking in French, translated): Everywhere governments nationalized and set up trade monopolies. For example, the Canadian wheat board dates from 1933. A common agricultural policy was established in Europe. The Agricultural Adjustment Act was passed in the United States. There was also the Australian wheat board, equalization funds, marketing boards in Africa, and so on. So little by little, the nations set up control mechanisms and closed the doors on international trade. Customs duties rose extremely high.
(Music)
NARRATOR: In the following decades, although trade between countries remained modest, the consumer society took off like a rocket.
[End of Audio]
From “A History of Commerce.” Copyright 1998 by Films Media Group. Adapted with permission.
Copyright © 2012 by University of Phoenix. All rights reserved.