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The Depression of the 1930s - Essay Example

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Name Tutor Course Date The depression of 1993 The economy of the USA in the time period of the late 1890s and the early 1930s was widely characterized by the emergence of mass consumption and managerial capitalism which greatly affected the direction of management of businesses and the approaches to managing business entities…
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The Depression of the 1930s
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Download file to see previous pages The proposals of NBS was for the largest ever tax increase, distend tariffs, massive welfare economics of public works projects, controlling of wages and prices and hiking bank reserve requirement. This lead to worse economic problems for the country than was expected. The economic depression of the 1930s was due to the emergence of managerial capitalism and the mass consumption. The Americans thought that the recession was caused by a myriad of issues among them ;the crash of the stock market, failure of the banks, reduction in the purchasing across the block ,the American economic policy with Europe which had direct constraints to their well being in economic matters and the drought conditions in the Mississippi The Sherman Antitrust act and other Antitrust laws The antitrust law faced a lot of backlash especially for the big businesses leading to the continuing of the monopolistic and oligopolistic characteristics of the big businesses. The antitrust laws did not spell out the clear business conducts and stipulate the regulations of the businesses. The antitrust laws allowed for the formation of mergers of the co operations into single and multinational entities which developed and became great entities in the 21st century creating great stumbles to other players in the sector of the related businesses globally. Despite the antitrust laws there were numerous mergers in 1899 and the 1901 .This lead to great effects into the future of big businesses in the USA in the later centuries. The antitrust laws lead to the creation and the development of organizational management and management capitalism to deal with the running and managing of large businesses and cooperation coming as a result of the formation of big business mergers. The question of whether the antitrust laws were a failure or not has left a lot of debate on the issue whether it was a failure or not. Most of the players in the market and within the economy believe that it was never a failure. Political, business and economic historians believe that it was not a failure. The laws did not fail in achieving their intended purposes in the regulation of the market and the economy of the USA. The antitrust laws however increased and enhanced the degree at which companies became concentrated and became more monopolistic and oligopolistic hence affecting the rate of equity and fairness in the running of big businesses within the economy of the state. From this law the people of America learnt to live in an environment of big businesses and imperfect completion within the market set up in their economy. Emergence of Managerial capitalism and the Visible hand of the Market The development of the management as explained by Chandler meant that the management had shifted from that which was organized and decentralized to individuals to an approach that is centralized and one which is centralized to few individuals in an organization with numerous managerial and decision making structures. The management is thus taken into the hands of accountants and managers which are answerable to the shareholders and their specific interests. The managements of the GM adopted a vertical and horizontal integration approach in the running of the organization in the early years without much planned and prepared strategies as a way out of the economic constraints ...Download file to see next pagesRead More
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