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The Great Depression as a Social Issue - Coursework Example

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The author of this work states that the United States stock market crash of October 1929 was the major cause and certainly the catalyst for the Great Depression, the ‘Great Crash,’ ‘The Panic’ which began that month and lasted until late 1941 when the U.S. began mobilizing for WWII…
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The Great Depression as a Social Issue
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Download file to see previous pages President Roosevelt (FDR) along with supporters of the New Deal within the Congress sought to restore the country’s economic strength had ostensibly two options. They could either develop government programs from the ground-up by federally funding welfare benefits and job creation, therefore, forming a social partnership with the working class including labor unions and racial minorities or the government could allow businesses the freedom to correct the economy by expansion through lower taxes and deregulation thus creating additional jobs. The money workers spent from these newly formed jobs would circulate dollars back into the economy. Both positive and negative outcomes of government policies and programs instituted to improve the situation for millions of suffering people and the dramatic steps used to address the economic meltdown continue to be debated to this day, a subject especially pertinent the past two years during a near duplication of the crisis, the ‘Great Recession.’ As history shows, some programs helped alleviate problems to varying degrees, others did little to help while others only exacerbated the frantic situation. This paper investigates the sources of the Great Depression including its effects on American citizens and the outcomes, both long-term and immediate, of the government’s response which was, now famously, known as the New Deal.
Many factors instigated the Great Depression but the fundamental causes can be narrowed to two reasons. One, the wealth of the country was distributed unevenly. A middle class, as we would be familiar with today, was non-existent. The nation was starkly and cruelly divided between the ‘haves and the have not’s,’ persons with massive wealth and power and persons struggling to pay the bills on time every month.  ...Download file to see next pagesRead More
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