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Essay / Research Paper Abstract
This 8 page report discusses the vast number of changes the U.S. economy has undergone since the dark days following the 1929 stock market crash. The Roosevelt Administration implemented a wide array of social benefit programs to assist Americans in getting through the Depression. The next economic grace for the country was directly related to the onset of World War II and then the prosperity of the post-war period. Subsequent generations and their economic success had been changed forever. The United States would never again experience a catastrophe of the magnitude of the Depression. Bibliography lists 7 sources.
Page Count:
8 pages (~225 words per page)
File: D0_BwpostGD.rtf
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Unformatted sample text from the term paper:
to an even greater extent. After all, the "Great War" had taken place somewhere "over there, over there." Hungry, out of work, people were literally right in front
of the eyes of America on a constant basis. Entire families were uprooted from farmlands that had been part of their heritage for generations, and prospects for the future
were decidedly bleak. Despite the optimistic reassurances of President Hoover and his secretary of the treasury, Andrew W. Mellon, that business was
"fundamentally sound" and that a new age of economic growth and individual well-being was just around the corner, numerous factories closed, unemployment soared, banks failed in growing numbers, and the
prices of commodities steadily fell. was the gold standard (Norton 36). What happened in the aftermath of the 1929 Crash began as an economic contraction not so different from most.
But the world monetary system was still fragile from the resumption of the gold standard after World War I. When output, prices, and savings began sinking in 1929, policymakers--certain they
had to keep their currencies tied to gold at all costs--either did nothing or tightened money supplies. The only way to restore economic stability within the constraints of the gold
standard was to let prices and wages fall. The Government Steps In By 1932 hundreds of banks had failed, hundreds of manufacturing operations
had shut down, mortgages on farms and houses were being foreclosed in large numbers, and more than ten million workers were unemployed. Not surprisingly, the 1932 presidential campaign was waged
on the issues of Prohibition and the economic crisis. The Democratic platform and its candidate Franklin D. Roosevelt called for outright repeal of Prohibition (the 18th Amendment) and promised a
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