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Essay / Research Paper Abstract
In five pages this paper discusses the period known as the Great Depression in an overview of the steps Presidents Herbert Hoover and Franklin D. Roosevelt took to alleviate the crisis, and also considers how the United States’ entry into World War II ended the Depression. Four sources are listed in the bibliography.
Page Count:
5 pages (~225 words per page)
File: TG61_TGgrdep.rtf
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Unformatted sample text from the term paper:
to be the official beginning and end of the Great Depression, the worst economic crisis the United States had ever known. President Herbert Hoover and his successor Franklin D.
Roosevelt scrambled to quickly end to the Great Depression that was triggered by the collapse of the stock market, which led to bank failures, widespread unemployment, increased inflation, and agricultural
disaster. Despite steps undertaken by these Chief Executives, the Great Depression continued unabated throughout the 1930s, and while Uncle Sam struggled to recover economically, Europe and Japan were fighting
World War II. Americans were adamantly opposed to becoming involved in the war, but public opinion was overruled dramatically when the Japanese bombed U.S. naval bases in Pearl Harbor,
Hawaii in 1941. Ironically, a global war accomplished what a series of innovative domestic policies could not - ended the Great Depression. During the 1920s, as most of
world was rebuilding from the Great War, the United States was enjoying a postwar economic boom and well on its way to becoming an international superpower. However, the demand
for U.S. products shrunk drastically after the war, and manufacturing overproduction that was disproportionate to the growth of employee wages, which was affecting consumer buying power (Barber, 1997). Businesses
were growing at a much faster rate than wages. In hopes of supplementing their incomes, a growing number of Americans were turning to the stock market. In 1929,
stocks could be purchased either marginally or on credit with only 10 percent down (Friedrich, 1987). Yet despite the number of stocks being purchased, only a few stocks were
rising during this period. As the decade neared an end, many Americans were relying on credit to make ends meet, which meant not enough money was being circulated throughout
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