Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist, the founder of the Ford Motor Company, and sponsor of the development of the assembly line technique of mass production. Although Ford did not invent the automobileor the assembly line, he developed and manufactured the first automobile that many middle class Americans could afford. In doing so, Ford converted the automobile from an expensive curiosity into a practical conveyance that would profoundly impact the landscape of the twentieth century. His introduction of the Model T automobile revolutionized transportation and American industry. As owner of the Ford Motor Company, he became one of the richest and best-known people in the world. He is credited with "Fordism": mass production of inexpensive goods coupled with high wages for workers. Ford had a global vision, with consumerism as the key to peace.
The motor industry led to a boom in other related industries:
- Henry Ford developed the assembly line and conveyor belt to speed up motor production.
- Ford's River Rouge plant in Detroit, Michigan became the largest factory in the world.
- Ford produced a standard model, the Model T Ford. A new Model T Ford cost less than $300 in the mid-1920s.
- By 1929, more than 26 million cars were registered in the USA.
- During the 1920s, about $1 billion a year was spent on the construction of a national network highway.
- The automobile industry also caused other industries such as steel, rubber, leather and paint grow rapidly.