Student Solution

-->

"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

1 University

1 Course

1 Subject

Week 5 Assessment_Hist Of Us Since 1877

Week 5 Assessment_Hist Of Us Since 1877

Q Examine the condition of America's economy in the 1920's and 1930's. What caused the Great Depression? How did it affect the country/world? What role did Republican economic strategies play? How did Hoover respond to the economic crisis? How did Roosevelt attempt to recover the economy? (I expect an in depth analysis of the New Deal i.e. acts, programs, phases, administrators, accomplishments, failures etc.) Was the New Deal a success?

View Related Questions

Solution Preview

The 1920s is often called the Roaring 20’s because it saw the economic prosperity like never before although it was short term prosperity. In the 1920s, the United States earned a lot of profits and most of these profits earned were reinvested into expansion process. However, by 1929, the expansion of the companies reached a limit and there could be no expansion beyond that limit (Foner, 794). This limit made the slowdown unstoppable. This expansion further led to a great deal of increase in profits which naturally caused the wages to increase but the corporate profits increased to unmatched level and simultaneously distribution of wealth as well was widened (Foner, 794).