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The Great Depression And The "New Deal" - Online Term Paper

The Great Depression And The "New Deal"

In 1932 almost 1500 banks failed, 32,00 businesses closed their doors and
one-fourth of the labor force in the United States was unemployed. In that
same year Franklin Delanore Roosevelt was elected president. He took
office in 1933 with the economy and the nation in a severe depression. For
the first three years of the Great Depression the government did very
little to help the economy to recover. This all changed when FDR and his
democratic administration took control. This administration initiated the
"New Deal." This program brought together the federal and the state
governments. The states received federal grants, which provided funding
for such programs as public works ...

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that said that the forces of
supply and demand operated to slowly in a serious recession, and the
federal government should step in and help stimulate the economy. This
theory became known as Keynesian Economics. In terms of the Great
Depression the economy was at a serious imbalance because the public sector
was saving more than usual and the business sector was not investing at a
typical level. Therefore the government needed to step on and stimulate
the economy. This stimulation was seen in the actions of the government in
the "New Deal." Slowly but surely the steps taken by the government pulled
the nation's economy out of the recession it faced for so many years. ...

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The Great Depression And The "New Deal". (2004, February 7). Retrieved November 8, 2024, from http://www.essayworld.com/essays/The-Great-Depression-And-New-Deal/2673

"The Great Depression And The "New Deal"." Essayworld.com. Essayworld.com, 7 Feb. 2004. Web. 8 Nov. 2024. <http://www.essayworld.com/essays/The-Great-Depression-And-New-Deal/2673>

"The Great Depression And The "New Deal"." Essayworld.com. February 7, 2004. Accessed November 8, 2024. http://www.essayworld.com/essays/The-Great-Depression-And-New-Deal/2673.

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PAPER DETAILS

Added: 2/7/2004 06:54:34 AM
Category: Economics
Type: Premium Paper
Words: 305
Pages: 2

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