A new mass economy resulted from the rise of corporations in the U.S during the first three decades of the 20th century, which resulted in a consumer society. In your answer, convey an understanding of how this economic change affected America’s outlook on success. Describe first how Americans came to believe in the promise of prosperity. Then detail the emergence of the mass economy, paying particular attention to the role of Fordism. In the end, you should explain what the new American Dream looked like.

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Production And Growth
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1. A new mass economy resulted from the rise of corporations in the U.S during the first three decades of the 20th century, which resulted in a consumer society. In your answer, convey an understanding of how this economic change affected America’s outlook on success. Describe first how Americans came to believe in the promise of prosperity. Then detail the emergence of the mass economy, paying particular attention to the role of Fordism. In the end, you should explain what the new American Dream looked like. 

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