Explain any four measures adopted by America for postwar 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 followings measures:
(i) Mass production: The growth of US economy was due to mass production. Car
manufacturer Henry Ford made significant contribution in this fields. 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.
(ii) Hire purchase system: Increase in wages led to spurt in the purchase of refrigerators, washing machines, radio and other household products through a system of ‘hire-purchase’.
(iii) The demand in above products led to a boom in house construction and home
ownership which were again financed by loans.
(iv) In 1923 US resumed exporting capital to the rest of the world and became the largest overseas investor. US imports and exports also boomed.

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