Franklin D. Roosevelt (FDR) was elected at one of the toughest times in American history, the great depression. 1932 was a tough time to be a president because of the high unemployment and the various other poor economic conditions. With over 13 million unemployed FDR needed to act quickly. FDR introduced the 100 days, where he promised to solve this problem within 100 days of being elected. Despite his efforts this problem was too large to solve in just 100 days. However various things introduced in these 100 days go on to benefit the situation in a larger time span. The New Deal was an example of a proposed idea that resulted in a reduction in unemployment. The New Deal was based on the economic ideology of John Maynard Keynes that the only way to rescue a failing economy is to spend money. Essentially get further into debt in order to get out of it totally. This concept was implemented through various super projects across America such as the Hoover Dam. These projects were successful and contributed to the decrease in unemployment pictured below.
On October 22nd 1929, otherwise known as black tuesday the stock market crashed marking the start of nearly a decade of economic challenges for a majority of Americans. One main cause in this was the decline of the agricultural industry. Last class we played a stock trading game to simulate the trading experience and eventually a virtual crash. The class traded 5 things. They were iron, oil, coal, fish, and wheat. Assuming that the agricultural industry would decline I sold all wheat stocks and gained stocks in oil, iron, and coal. This strategy worked well before the crash grossing me a profit of over 98,000. It felt great to be in a sense winning. However after the crash I didn't realize that it was wheat that would do the best due to the inelasticity of its demand. After the crash I had owed the bank over 40,000. Even though I had only lost virtual money it was a bad feeling. This feeling could be best described as landing on Park Place with a Hotel in Monopoly and watching all of your money go to your opponent.
After WWI the American soldiers returned to a prosperous economy filled with emerging brands. There were tons of new and interesting things to buy and the economy started to boom. There were lots of job and money was flowing through the economy swiftly. The stock market became popular and was a great way for people to capitalize on this economic boom. Henry Ford started the first car company with the creation of the Model T. By the late 1920's nearly a quarter of Americans had a Ford. Another change was the gender equality. Women were now allowed to vote and this lead to the prohibition of alcohol. Other notable changes included the birth of the cinema with silent films, as well as a growing confidence in luxuries such as flying. The 1920's were full of positive social changes that are fully accredited to the booming post war economy.
Cinderella man starring Russell Crowe gave a great insight into the life of a family in the US during the 1920s and 30s. Crowe stars as a fighter that gets down on his luck after a successful boxing career during the 1920s. Throughout the film he has to overcome the various challenges that the great depression brought many across america. He faces the struggle to find work and pay for the necessities to support his family. He resorts to government handouts to get by. Eventually he turns to his friend and reenters the fighting scene. He then starts his fight back to the top. He defeats many fighters slowly increasing his families quality of life. Eventually he defeats the world champion and becomes the new world champion. The movie was very exciting and the ending although somewhat predictable was exhilarating.
|
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |