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The Works Program Administration (WPA) started work on this day in 1935. It was credited for creating 8.5 million public jobs for the ailing United States Economy.
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President Franklin D. Roosevelt issued this as part of the Second New Deal. President's Committee on Economic Security issued it as an attempt to regulate dangers on modern American life.
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John Maynard Keynes argued that demand not supply was the key factor in governing economic activity. Rise of Keynesian economic theory.
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Lasting around a year, this share price fall was triggered by an economic recession within the Great Depression and doubts about the effectiveness of Franklin D. Roosevelt's New Deal policy.
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Culmination of a successful strike led by plant workers. Legitimized labor unions in the world of corporate America.
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Caused an economic boom that officially ended the Great Depression. Expanded industries brought the US close to full employment.
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Meeting in Bretton Woods, New Hampshire for fear of another oncoming Great Depression. Establish a new world economic order and discuss global monetary policy. Hopeful to inspire peace among nations.
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The whole year of 1947 experienced a jump in inflation rates from 1946 by 15.9
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Created prospects of additional government deficits and the issuance of new government debt. The Treasury pressured the Fed into keeping a fixed low interest rate on government bonds. Independence restored to the Fed through the Fed-Treasury Accord.
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Congress passed the act, establishing a needs test and requiring the federal government to share 50 percent of the costs.
