Wednesday, August 28, 2019

Congressional Consideration of New Deal Legislation Essay

Congressional Consideration of New Deal Legislation - Essay Example It wasn’t but 50 years ago that America was engulfed in the â€Å"Great Depression†. Political pundits and members of Congress alike compare our current situation as the worst economic climate since the Great Depression. While the times of that era were certainly tough, the strength and enduring spirit of the American people proved to be resolute and we as a country rose from the ashes like a phoenix. While the spirit of the American people has an ethereal reason on why we overcame the Great Depression, any well-versed scholar of American history knows that it was indeed President Franklin Delanor Roosevelt’s New Deal that catapulted our country out of the economic abyss. â€Å"We have had recessions before and we will have them again; and always, when we do, we can be thankful to the New Deal. For nearly half a century, its innovations in the thirties have helped to keep recession from deepening into depression.†1 The Great Depression lasted from the end of 1929 to the early 1940s, beginning in the United States but slowly spreading to other countries as well, because they had become economically dependent on each other. This era is a widely studied and thoroughly examined time in American history. There are numerous underlying reasons for the Depression, and there are many theories on why it occurred. Some of the seeds that gave root to the Great Depression can be linked to events far before the time of that gloomy era. â€Å"The roots of the Great Depression can be traced back to the world war of 1914-1918 and even beyond. Some authorities describe it as the ultimate collapse of the industrial revolution, with the machine devouring the man†¦..Between 1920 and 1930 economists ceased pondering the question of ‘America’s capacity to produce,’ which had preoccupied them for fifty years and turned belatedly to â€Å"America’s capacity to consume, about which the y

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.