The Great Depression And The "New Deal"
Beginning of paper
In 1932 almost 1500 banks failed, 32,00 businesses closed their doors and
one-fourth of the labor force in the United States was unemployed. In that
same year Franklin Delanore Roosevelt was elected president. He took
office in 1933 with the economy and the nation in a severe depression. For
th ....
Middle of paper
.... programs would work, and why
they felt such a dramatic change in the role of the government was needed.
For the answer we must turn to an economist by the name of John Maynard
Keynes. He developed an economic theory that said that the forces of
supply and demand operated to slowly in a serious recession, and the
federal government should step in and help stimulate the economy. This
theory became known as Keynesian Economics. In terms of the Great
Depression the economy was at a serious imb ....
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Word count: 305
Page count: 2 (approximately 250 words per page)
