Running head: Economic Growth of the U.S. During Great Depression and World War IIEconomic Growth of the U.S. During Great Depression and World War IIInstitutional AffiliationDate1Economic Growth of the U.S. During Great Depression and World War II2The Great Depression and the World War II both left a landmark in the Americaneconomic history. They both happened during the 20th century, and the effects of the twosubstantially vary. They both redefined the role of government in the American society. They arereference points in the study of world economies.The Great Depression was a worldwide catastrophe. In the United States (U.S.), not onlywill it be remembered because of its long duration but also for its severity. The Great Depressionin the U.S. started in October 1929 and lasted for ten years. The toll it took on the economy wassignificant and was felt by all the people in all the social classes. It also sparked substantialchanges in the economic institution, macroeconomic policy, and economic theory (Rothbard,1972).The Great Depression in the U.S. was as a result of specific individual events happening.In September 1929, there was the stocks market crash and was one of the reasons. As aresult, the investors preferred hard cash in their hands and money in their shares. As of October24, 12 million shares had already been traded and increased greatly afterward. The samehappened in the financial institution. People preferred to store their money in th ...
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