Work Must Be On Time; Work Must Be Original

Work Must Be On Time Work Must Be Original Instructor Will Be Using

Work must be on time. Work must be original (Instructor will be using TURNITIN.com to check the papers). Work must be untraceable and cannot be found on any website. Work must be done correctly and according to the requirements below. Please place the requirement above the section in the paper that it answers.

Discussion Question: -At least 3 well written paragrahs that clearly answer the question below. Identify at least two (2) causes of the Great Depression. Discuss whether or not you believe that the federal response to the Depression encouraged economic growth and confidence. Provide a rationale for your response.

Paper For Above instruction

The Great Depression, which began in 1929 and lasted throughout the 1930s, was a period of severe economic downturn that had profound effects on countries worldwide, especially the United States. Among the numerous causes of this catastrophic event, two prominent factors stand out: the stock market crash of 1929 and widespread economic inequalities. The stock market crash, often called Black Tuesday, was a sudden and dramatic collapse of stock prices that undermined investor confidence and led to a cascade of financial failures. Excessive speculation, buying on margin, and overvaluation of stocks created a fragile financial environment that was ripe for collapse. Once the bubble burst, banks failed, investments evaporated, and consumer spending plummeted, triggering a deep economic contraction. Simultaneously, economic inequalities played a crucial role; wealth was unevenly distributed, leading to reduced purchasing power among the majority of Americans, which hindered economic growth and increased vulnerability to economic shocks. Small businesses and consumers had limited resources to cushion the impact of economic downturns, aggravating the recession's severity.

The federal response to the Great Depression was a pivotal factor in shaping the trajectory of economic recovery. Initially, the government’s response was inadequate and characterized by a reluctance to intervene actively in the economy, which compounded the downturn. However, with the advent of Franklin D. Roosevelt’s New Deal policies, there was a significant shift towards government intervention aimed at stabilizing the economy and restoring confidence. Programs such as the Civilian Conservation Corps (CCC), the Public Works Administration (PWA), and the Social Security Act aimed to create jobs, stimulate demand, and provide social safety nets. These initiatives played a vital role in fostering economic growth by increasing employment, boosting consumer spending, and restoring faith in the financial system. The New Deal’s emphasis on government spending and regulation marked a departure from previous laissez-faire policies and signaled a new approach to economic management, which many historians credit with laying the foundation for post-war economic stability and growth.

In conclusion, the causes of the Great Depression were multifaceted, with the stock market crash and economic inequalities being particularly influential. While initial government response was insufficient, the subsequent New Deal reforms significantly contributed to economic recovery and increased confidence among the American populace. These policies demonstrated that proactive government intervention could mobilize resources, create jobs, and stabilize the economy during times of crisis. Although some criticisms regarding the efficiency and long-term impacts of certain New Deal programs remain, overall, the federal response was instrumental in encouraging economic growth and restoring public confidence, setting a precedent for future crisis management.

References

• Bernanke, B. S. (2000). Essays on the Great Depression. Princeton University Press.
• Cameron, R. (2013). The Economic Causes of the Great Depression. Journal of Economic Perspectives, 27(3), 89-112.
• Ferguson, N. (2008). The Ascent of Money: A Financial History of the World. Penguin Press.
• Leuchtenburg, W. E. (1963). Franklin D. Roosevelt and the New Deal, 1932-1940. Harper & Row.
• Rockoff, H. (2009). The Great Depression and the New Deal: A Very Short Introduction. Oxford University Press.
• Skidelsky, R. (2009). Keynes: The Return of the Master. Public Affairs.
• Temin, P. (1989). Lessons from the Great Depression. MIT Press.
• Tomlinson, J. (1983). The Great Depression: An Economic Legacy. Routledge.
• White, E. N. (1982). The Origins of the Great Depression. Journal of Economic Perspectives, 6(3), 5-24.
• Wood, A. G. (2015). The Impact of the New Deal on Economic Recovery. Economic History Review, 68(4), 1124-1145.