"From 1923-1929 corporate profits rose 62% and dividends rose 65%." 6 Even the federal government through the Calvin Coolidge administration contributed to the growing gap between the rich and low income American. Andrew Mellon, Coolidge's Secretary of the Treasury, was instrumental in getting a tax cut approved which "lowered federal taxes such that a man with a million-dollar annual income had his federal taxes reduced from $600,000 to $200,000." 7 This tax cut was a boom to the wealthy. ... Farmers were the first victims of the great depression because the federal government favo...

• Word Count: 1658
• Approx Pages: 7
• Grade Level: Undergraduate

Throughout this difficult time period the government policymaking system seemed helpless. ... The best evidence suggests that Federal Reserve behavior and the public statements of numerous government officials caused the crash. ... John Maynard Keynes forever changed the government policy. America's Employment Act of 1946, the year Keynes died, enacted a "continuing policy and responsibility of the Federal Government to promote maximum employment, production, and purchasing power." ... Keynes and the Depression forever changed economics and governments role in the economy....

• Word Count: 1299
• Approx Pages: 5
• Has Bibliography
• Grade Level: Undergraduate

With investors and mortgagees, and many other Americans, struggling for financial security the Federal government had to respond in some way to appease the public. The actions taken by the Federal Government, during the Great Recession, received both positive and negative reviews. The Federal Government has been accused of not placing enough attention and regulation upon the mortgage firms and investment banks to begin with. ... In the eyes of the public the Federal Government flawed by not increasing its public investment, which might of helped to keep the economy stable. ... Despite these n...

• Word Count: 1363
• Approx Pages: 5
• Has Bibliography
• Grade Level: Undergraduate

While FDR did not have a specific plan during the campaign itself, his directional philosophy was that federal government had a responsibility to ensure social justice and the welfare of its citizens. After winning the election and as FDR's presidency began, the New Deal began to flesh itself out through a collection of legislation and actions that would initiate the concept of America as a welfare state and establish the role of federal government in guaranteeing individual welfare. Seeding the idea of government as guarantor, the New Deal established a collection of agencies to focu...

• Word Count: 1142
• Approx Pages: 5
• Grade Level: Undergraduate

These potential causes include the maldistribution of purchasing power, the lack of diversification in the American economy, the credit structure of the economy, bank failures, the action of the Federal Reserve, America's position in international trade, and the international debt structure. ... John Maynard Keynes, in the early 1930s, attributed the crisis to the impact of changes in Federal Reserve monetary policy. ... The Federal Reserve was concerned about the rising speculation on the Stock Exchange, fearing that a stock market crash would destabilize the economy. ... One source r...

• Word Count: 1109
• Approx Pages: 4
• Grade Level: Undergraduate

As the Depression became worse, calls grew for increased federal intervention and spending due to the rise of the unemployed and drop of income, tax revenue, profits and prices as well as international trade. Hoover however, refused to involve the federal government in forcing fixed prices, controlling businesses, or manipulating the value of the currency. He refused to use federal money as a direct aid to citizens as he believed that it would weaken public morale. He wanted citizens to be able to help themselves without relying on the government. ... Roosevelt saw the government differently. ...

• Word Count: 739
• Approx Pages: 3
• Grade Level: Undergraduate

What was different then to motivate laborers, government and bureaucracy to work together with such limited time, money, and resources as were available in the 1930's? Was it a result of the New Deal that redirected the focus of Americans back to the federal government, instead of self-preservation, expecting it to support the nation's welfare? ... The WPA also employed a wide range of talents in the Federal Theatre Project, Federal Art Project, and the Federal Writers' Project. Never before or since has our government so extensively sponsored the arts. ... It did, however, ...

• Word Count: 1498
• Approx Pages: 6
• Has Bibliography
• Grade Level: Undergraduate

The New Deal Throughout the 1930's Roosevelt created a government that took part in an increasingly popular role in the economy and the well being of the country. Roosevelt challenged all three branches of government and the constitution to make a better economy for America. New Deal plans such as; the Agriculture Adjustment Administration, the Federal Deposit Insurance Corporation, and the Social Security Administration helped the economy recover and got many Americans lives back to normal. ... The glass-Steagall banking act created the Federal Deposit Insurance Corporation which...

• Word Count: 529
• Approx Pages: 2
• Grade Level: Undergraduate

From 1928 - 1929, the Federal Reserve had raised interest rates in hopes of slowing the rapid rise in stock prices. ... Government policies and competitive pressures for several years prior to the crisis encouraged higher risk lending practices. ... The bank holiday closed all banks, permitting them to reopen only after being deemed solvent by government inspectors. ... The Federal Reserve did little to try to stop the banking panics. ... For sure the most concerned and agitated about it is the Federal Reserve System and "Broadly, the Federal Reserve's response has followed two tracks: e...

• Word Count: 1664
• Approx Pages: 7
• Has Bibliography
• Grade Level: Undergraduate

Its purpose was to offset the effects of the Depression by establishing federal programs of recovery, relief, and reform, or the three R's, using government intervention and federal money. ... The central legacy of the New Deal was increased government involvement in the lives of the American people. Several government-funded programs were created in the early thirties to aid economic and social dilemmas. ... In 1933 the Federal Emergency Relief Administration was established and headed by Harry Hopkins. ... In 1935 the New Deal made further efforts to promote social welfare and exert f...

• Word Count: 1193
• Approx Pages: 5
• Grade Level: Undergraduate

Many people came to depend on the government or charity in order to survive. A prime example that led to this tragedy is the Federal Reserve's decision to raise interest rates in 1928 and 1929. ... Roosevelt felt that the Federal Government's duty was to help and not be helped. ... The widespread unemployment rates during the 1930s worsened an already difficult situation because the government didn't have any money at that time and the rates were too high for the government to respond. ... The reforms of the 1930s, '40s, and '50s turned the Federal Reserve into a moder...

• Word Count: 807
• Approx Pages: 3
• Grade Level: Undergraduate

The economic recovery plan was brought to a halt late 2012 by the federal government when cuts in military spending and other factors overwhelmed the Federal Reserve's expanded campaign to stimulate growth (Appelbaum and Schwartz, 2013). ... This past summer, however, Federal Reserve chairman Ben Bernanke tripled the size of the money supply in his policy of quantitative easing, which could spur inflation if the economy ever stats growing (Sivy, 2013). ... Keynesian economics advocates the use of beneficial government policies in order to help the economy grow in a positive way (Patil, 2...

• Word Count: 1445
• Approx Pages: 6
• Has Bibliography
• Grade Level: Undergraduate

Nevertheless the New Deal did not create a full recovery from the Great Depression, yet it left a real effect in two places, the American government and American society.         ... Many historians agree that during Roosevelt's twelve years in office, there was a huge escalation in the power of the national government in general. Roosevelt additionally settled the administration as the conspicuous focus of power inside the central government. ... The power of labor unions expanded during this time, and the New Deal likewise prompted an increase in the federal regulation of the ...

• Word Count: 767
• Approx Pages: 3
• Has Bibliography
• Grade Level: Undergraduate

In order to increase trust in them, Congress passed the Emergency Banking Relief Act of 1933, which allowed the government to reopen closed banks, and regulate banking and foreign exchange. ... In order to help the older of the unemployed, the Federal Emergency Relief Act was passed to form the Federal Emergency Relief Administration. ... The Federal Housing Administration began to stimulate the building industry by giving homeowners small loans for improving their home or constructing new ones. ... Roosevelt's ideas of a big government were opposed by conservatives and businesses, who ha...

• Word Count: 1325
• Approx Pages: 5
• Grade Level: Undergraduate

Like Roosevelt, Johnson's administration set up many government programs and pumped money into the economy. ... As evidenced by heavy government program spending from the late 1940s to the 1960s, Keynesian economics succeeds when national economies are suffering. ... Keynesian economics can create an artificial buffer because of government practices, thus restricting the potential growth in a county. This is why governments typically invoke laissez-faire policy during a boom. ... Usually governments will decrease spending during times of prosperity, that is why Keynesian economics usually...

• Word Count: 1814
• Approx Pages: 7
• Grade Level: Undergraduate

The federal government expanded its role in social and economic areas and became larger and more powerful. The government created many reforms and Acts in order to protect and recover the economy as a whole by decreasing unemployment and helping farmers as well. ... The Federal Emergency Relief Administration (FERA) gave money to states in the form of grants, but this relief was only temporary. ...

• Word Count: 636
• Approx Pages: 3
• Grade Level: Undergraduate

However when evaluating the Federal Reserve (FED), European Central Bank (ECB), or the Peoples Bank of China (PBC) the predicament remains the same. Is it more cost effective during a fiscal trough to lower interest rates dramatically and increase governmental spending? ... Time and time again governments react to a cyclical slump, and push it into an outright crisis. The stock market crash of October 29, 1929 did not lead to the hardship of the Great Depression; how the government altered the markets did. ... The most difficult task that our government and the governments of others face is no...

• Word Count: 663
• Approx Pages: 3
• Grade Level: Undergraduate

Rather the financial crisis occurred due to numerous "triggers", certain events or economic factors that directly induced the collapse, and "vulnerabilities", structural flaws in federal regulation and the financial system that intensified the primary wave of shocks (Bernanke 1). ... Shadow banks act like traditional banks in the sense that they give out loans but they do so without the federal regulation traditional banks must adhere to. ... Since the government was unable to regulate the use of the TARP bailout money there is very little evidence that it actually stimula...

• Word Count: 2201
• Approx Pages: 9
• Has Bibliography
• Grade Level: Undergraduate

Garraty suggested similarities between the two systems were: having a strong leader, an ideology stressing the nation, the people, the land, the state control of economic and social affairs, and the quality and quantity of government propaganda. ... The federal controlled access highway system in Germany, the Autobahn, and the reclamation of the Pontine marshes during the battle of Anzio are other examples of showcase projects that promoted a certain image the of the nation. ... Leaders including Hitler and Roosevelt altered the typical usage of propaganda to suit the needs of their citizens i...

• Word Count: 2776
• Approx Pages: 11
• Grade Level: Undergraduate

And fourth, a minimum of government supervision is required; if competition is present, economic activity will be self-regulating. ... In addition to all the previously mentioned problems, the Great Depression also revealed that America had a weak government. Thus, a government who did not enforce its regulations, and who did not take responsibility for the lives of its citizens. ... Efforts under the government of President Hoover, to restore the economy failed. ... Thus, with the long lasting of the Great Depression, the influence and powers of the federal Government grew increas...

• Word Count: 1388
• Approx Pages: 6
• Has Bibliography
• Grade Level: Undergraduate

Without the benefits taken for granted today such as Social Security, Welfare, Medicare and other federal relief programs they showed utmost determination in striving for a better life even with their broken spirits. ... With all the unemployed and poor travelers dreading the thought of hunger across the United States the government finally took some action to rebuild the economy (Biles 2). ... Described as a ratchet effect, the depression forced the government to increase their spending to help the families such as the Joads. With the increase in government spending businesses would be ab...

• Word Count: 1628
• Approx Pages: 7
• Has Bibliography
• Grade Level: Undergraduate

Krugman believes that the American Dream is no longer possible for most Americans, and that the government should enact policies to close the income gap. ... During the Great Recession, the federal govern­ment decided that raising the minimum wage would stimulate worker productivity and help close the income gap. ...

• Word Count: 1826
• Approx Pages: 7
• Grade Level: Undergraduate

After visiting the Museum of Fine Arts in Houston for the first time, I observed many interesting works of art representing various time periods. Of all the paintings that I saw today, two landscaped pieces seemed to stick out in my mind; Andre Derain's The Turning Road and Thomas Hart Benton's Hay...

• Word Count: 1412
• Approx Pages: 6
• Grade Level: Undergraduate