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This paper examines contributing factors to the Great Depression and its influence of the election of Franklin Delano Roosevelt. Additionally, the paper discusses FDR's New Deal, and its various programs that were aimed at lifting America out of its economic hardship. First, the paper give background information about circumstances leading to the Great Depression. Then, it describes FDR's election and some of his programs and legislative initiatives, such as Emergency Banking Act, the Agricultural Adjustment Act, Public Works Administration and several others. The paper notes that FDR's initiates attempted to balance the production as well as the consumption of the industrial production of the United States. The paper concludes by stating that many of the reforms that FDR had lead are still in process, or built upon because of the success that this legislative time ushered in.
From the Paper:"Economically, the search for order, prosperity, stability, profit, and success, was never more founded than in the roaring twenties. The appearance was, that there was money to be made at every turn, in every corner, and through any task or job. Nash states, "The search was to dominate Americans throughout the course of the twentieth century as they sought to achieve the elusive goal of economic and social stability" (Nash 1992, 10-11). On October 29th, 1929, the NY Time index of industrial stocks dropped around forty points, which was the worst drop in the history of Wall Street to this point (The American Economist). From August, 1929 to its lowest point during the year, November 13th, the New York Times index of industrial stocks dropped from 452 to 224, nearly cut in half. This can be realized in the key concern and main cause for the Great Depression. Gusmorino states, "Many factors played a role in bringing about the depression; however, the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920's, and the extensive stock market speculation that took place during the latter part that same decade," (Gusmorino, 1996). Most of the financial success and the..."
Sample of Sources Used:
- The American Economist. 2007. America's Great Depression. Retrieved March 29, 2010,from http://www.amatecon.com/gd/gdtimeline.html
- Hamby, Alonzo L. 2004. For the Survival of Democracy. New York, NY: Free Press.
- History. 2010. The Great Depression. Retrieved March 29, 2010, from http://www.history.com/topics/the-great-depression
- Gusmorino, Paul A., III. 1996, May 13. Main Causes of the Great Depression. Gusmorino World.
- McElvaine, Robert S. 1983. Down & Out in the Great Depression: Letters from the Forgotten Man. Chapel Hill, NC: The University of North Carolina Press.
Cite this Term Paper:
Reflecting Upon the Great Depression, FDR, and A New Deal (2012, November 16) Retrieved January 20, 2020, from https://www.academon.com/term-paper/reflecting-upon-the-great-depression-fdr-and-a-new-deal-152042/
"Reflecting Upon the Great Depression, FDR, and A New Deal" 16 November 2012. Web. 20 January. 2020. <https://www.academon.com/term-paper/reflecting-upon-the-great-depression-fdr-and-a-new-deal-152042/>