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Need an argumentative essay on MODULE NAME: International Economic Systems since 1918. TOPIC: Was the fall in consumption in the USA following the stock market crash of 1929 the main reason for the pr
Need an argumentative essay on MODULE NAME: International Economic Systems since 1918. TOPIC: Was the fall in consumption in the USA following the stock market crash of 1929 the main reason for the prolonged US depression Discuss with reference to the debate between monetary and. Needs to be 8 pages. Please no plagiarism.
In the early years of American history most political leaders were hesitant to heavily involve the federal government in the private sector, except in the area of transportation (Anderson, T. G., 2001). In general, they accepted the government interference in the economy. The main interference was done with an objective to maintain law and order within the territory.
A changing attitude to the issue was seen during the 19th century. During this time small businesses, farm, and labor movements started searching for possible ways to reform their business and to involve government in assisting them with the issues (Baillie, R., Myers, R. J., 1991, p.5)
By the start of the new century many political changes had occured that appreciated the government favors and help that gave the rise to progressive era. Different acts were passed on food and administration as well as federal trade agencies development (Schwert, W. G., 1989) In 1913 Henry Ford adopted the moving assembly line with each worker doing one simple task in the production of automobiles.
From 1920 to 1929 there was an era known as roaring era. This era was marked by a rapid development of the automobile industry. The list of other industries included oil, glass, and road-building industries. The other tendency was that tourism enhanced and more consumers started to use cars, what led to a perspective that was far wider than simple shopping. A remarkable feature of those times was prospering of small cities. As for large cities they had their best time. This time of American history was marked by a boom in construction of offices, factories and homes. The other important tendency was that the industry helped to transform both business and everyday life into something that singled out the US from other states (Shiller, R. J., 1981). Millions of people migrated to nearby cities. However, in October 1929, the stock market crashed and banks began to fail in the Wall Street Crash of 1929. Stock market crashed
