Answer this with at least 250 words
Select one of the following subjects and then respond to at least one of your classmate’s posts:
a. The Great Depression was one of the most devastating events that individuals, families, and America has ever experienced. Using specific examples, discuss whether or not you believe that the federal responses to the Depression (under Hoover and then under Roosevelt) encouraged economic growth and confidence. Provide a rationale for your response.
b. Identify at least one (1) practice in our own time that is similar to those in the 1920s or 1930s (beneficial or damaging). What can be learned from that era for our own time?
Respond to at least one of your classmates and help them support their point with more examples.
And write a reponse to this also
Hello Class and Professor,
Under Hoover I do not believe that the federal responses to the Depression encouraged economic growth and confidence. Despite everything Hoover had done to try and help those going through the depression it had not done any good. For example, Hoover’s plan to raise prices on foreign products thinking it would protect Americans products from competition failed because European governments already saddled with debts, and those nations had retaliated with very high tarriffs of their own, making it difficult for American businesses to sell their products over seas. His plan to help businesses get loans from establishing the RFC, so that more people could be hired didn’t go well either. It defeated the purpose of the RFC helping as many Americans as possible because it didn’t help the average American quick enough.
Roosevelt created the “New Deal” which would design measures to regulate the economy, provide for national recovery, and create a social safety net for all Americans. The FDR was the first part of the “new Deal’ to try and and provide relief to suffering people and industries whose weaknesses compounded that suffering. The first act of Congress was to address the banking crisis by passing the the Emegency Banking Relief Act on March 9,1933, establishing federal control over banks and if necessary, rescued them from disaster with government loans. Next, Roosevelt turned to helping people directly by getting Congress to increase the federal contribution to city and state relief agencies by creating the Federal Emergency Relief Administration (FERA); funding FERA with $500 million. One of FERA’s most successful programs was the Civilian Conservation Corps (CCC), established in March 1933. The CCC enlisted unemployed young men ages eighteen to twent-five in building and reparing highways, forest service sites, flood control projects, and national park buildings. Roosevelt’s “New Deal” helped the people recover from the Depression.