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Two questions of us history - Essay Example

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The Great Depression that struck many countries and impacted the market economies towards the end of 1920s has contributed to varied measures and precautions for controlling economic disaster. One of the measures or precautions that is put place today for controlling economic…
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Two questions of us history
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Download file to see previous pages The causes of Great Depression were more profound in that strong policies for dealing with global financial crisis were dubious in absence of authority. This means that the dominant economic supremacy, which have the global reserve currency and can offer liquidity and expanding demand were the main cause of the Great Depression. The collapse of the British hegemonic supremacy and the unwillingness of the US to step into hegemonic role vacated by the UK government were the deeper causes of Great Depression.
The fiscal policy was not only the central measure for economic recovery, but also the historians argue that the New Deal implemented to control the crisis was even worse because it delayed the upturn (Perry 16). However, the research study of the New Keynesian policy that suggested fiscal policy argued that this policy contributed nothing to the restoration or economic recovery. This is because of the trade deficit; thus the new agenda were developed during the anti-New Deal agenda, which focused on the issue of precautions or measures for controlling economic crisis. The congress implemented diverse policies under the New Deal including fair Labor Standard policies, whereby child labor and new wage policies were implemented. The state government also implemented other policies including social security measures and unemployment compensation have been among the aspects put in place for solving economic crisis.
One of the long lasting effects from WW2 is the shift of political or military power from Europe to the Soviet Union and the US government. The good thing is that the WW2 contributed to formation of treaties such as South East Asia Treaty, which was established for defense in Far East. Although the WW2 led to bad effects such as increased deaths, destruction of properties due mass bombing, the end of war led to significant transformation including countries gained ...Download file to see next pagesRead More
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