Economic Crisis in the 1930s - Essay Example

Economic Crisis in the 1930sINTRODUCTION From the year 1870 until the period of 1900s, the US experienced drastic economic transformations, which were largely owing to the rise of industrial revolution within the country and marked the beginning of an industrial America (National Museum of America, “The Development of the Industrial United States”). The role of new corporate leaders in achieving the same is also unignorable. Correspondingly, with this notion, the discussion henceforth addresses the role of corporate leaders in the industrial revolution of America, which helped the nation perform in the international role.

ARGUMENTATIVE DISCUSSION Many leaders have contributed towards the development of industrial America during the past decades. Cesar E. Chavez, was one of those historic leader having immense contribution towards determining labor laws for the welfare of the working class, which further influenced the development of the industrial sector in America. During the same period, under the leadership of Roosevelt, large-scale corporate initiatives were adapted in the US, which contributed towards the development of an industrial America. J.P.

Morgan is also counted among one of such leaders who emerged with the approach of consolidating numerous industries and ensuring their operations in the US. His approach also contributed towards the development of the US, as one of the top industrial economies in the world (National Museum of America, “The Development of the Industrial United States”). However, despite the effectiveness and contribution of the leaders, the country had to deal with the economic turmoil in 1930s (National Museum of America, “The Development of the Industrial United States”).

Contextually, owing to the lack of balance amid the new industrial economic system and the global financial market, the US became a primary contributor to the great depression of the 1900s. Problems were correspondingly identified in the financial regulations of the nation that further influenced the operations of the financial institution, eventually leading to the great depression (U.S. Department of State, “Labor in America: The Worker's Role”). CONCLUSION Based on the analysis, it can be concluded that the initiation of industrial America was one of the major approaches that strengthened the US economy during the 1870s until 1900s.

In this regard, the contribution of leaders of the new system was quite prominent, although the development was not quite smooth for the country overall. Works Cited“The Development of the Industrial United States.” National Museum of America. n.d. Web. 29 Oct. 2014. “Labor in America: The Worker's Role.” U.S. Department of State. n.d. Web. 29 Oct. 2014.