After a decade of prosperity that many Americans believed would never end, the U

Question

After a decade of prosperity that many Americans believed would never end, the United States endured the worst economic downturn in the nation’s history. Why did the Great Depression occur? What impact did the Depression have on American life? How did Herbert Hoover and Franklin Roosevelt attempt to deal with the Great Depression, and how did each fare? Were the programs in the New Deal simply an extension of earlier progressive efforts to heal society, or did they represent a new approach to reform? Explain,   NO PLAGARISM

Explanation / Answer

The great depression occured when prices of US stocks started dropping. The great depression was very severe and caused unemployment rate of nearly 25%, many americans suffered a lot during this period.

Hoover was a seasoned businessman who believed in minimum government intervention in recession, which backfired, Businesses and economy started failing rapidly.

Roosevelt however believed that government intervention is necessary in troubled times and he directly involved government to bring changes in banking, spending for infrastructure projects and starting many civilian employment initiatives.

Hoover strategy did not work in great depression but Roosevelt strategy worked immensely and got america back to work.

New deal bought confidence to industry, It clearly stated desire of government to get involved in market, this is very important in difficult economic times. Apart from this government also built corps to get people employed. Public spending was also increased.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.