Herbert Simon

Macaih described the motorcycle accident he encounters on the west side of Detroit and show us a video of him and a partner rail jumping from Oregon to Salt Lake City, Utah. The song of the day was Al Jolson singing Brother Can You Spare a Dime, a definitive rendition depicting the sentiment during the Great Depression. In 1927 there was a world depression and, the Soviet Union with Josef Stalin created the Gulag a labor camp in which many people died. World War I veterans created the Bonus Army…

In FDR’s Folly: How Roosevelt and his New Deal Prolonged the Great Depression, Jim Powell argues that Franklin Delano Roosevelt prolonged the Great Depression through his actions as the President of the United States. Powell successfully shows that FDR extended the Great Depression during his presidency through his policies. Powell uses many court cases to help his thesis. Powell is also able to prove his thesis by using many prominent scholars in their respected fields. Powell does have some…

Looking at the State of the Union Addresses written by Herbert Hoover in 1932 and Harry Truman in 1947, both Presidents give similar reports on the economy. In Hoover’s 1932 letter to Congress (Presidents have the option to write a letter or give a speech), he is optimistic about the future of the economy but…

vvThe book Of Mice & Men written by John Steinbeck was published a couple of years after the end of The Great Depression. During The Great Depression Era social responsibility was important because people were losing their jobs, houses, and healthcare. Social responsibility means helping individuals and obligation to act for the benefit of society at large. In the book there are two main characters named George and Lennie. George knew Lennie through Lennie’s Aunt Clara and when she past away he…

“Money: The Strength In Evil” It is more likely for a person to get struck by lightning than to win the lottery. And even if a person were lucky enough to win, nearly 70% of all people that win the lottery go bankrupt within a few years. In The Pearl written by John Steinbeck, Kino and Juana, local village people, get lucky enough to find the pearl of the world, but unfortunately their son Coyotito gets extremely sick and they have to try and sell the pearl to help him. In the book, the pearl…

The great depression was an economic recession in the united states that lasted from 1929 to the early 1940’s. In the long run the great depression was caused by farmers over producing food and unregulated speculation in the stock market. President Hoover was elected in 1928 at the height of the U.S economy. Hoover believed that the economy had natural cycles it would go through no matter what. Due to this belief, Hoover adopted a wait and see strategy during the depression, and encouraged…

The 1929 Stock Market Crash Name of Student Institution Affiliation The Stock Market Crash of 1929 Although not the sole major economic development in American and global history, the stock market crash of 1929 is one of the most prolific. This is due to the fact that it was, as will be argued in this paper, the catalyst for the greatest economic depression in history. Playing out over several days, the crash had long-term consequences for American society at every level, from the everyday…

WPA: Work Pays America! Founded in 1935, the “Works Progress Administration” (WPA), which is now known as the “Works Projects Administration”, was an important New Deal reform program. It was considered as a key to resolve economic crises and the rise of unemployment; these factors led to this reform movement. The WPA was successful when it came to producing projects that shaped the country such as construction and art projects; however, the WPA was not that effective to decrease the rate of…

In the mind of Herbert Hoover, the government should not intervene in economic activities. When the Great Depression hit, this ideology was still active. Hoover tried to soothe the souls of the American people by putting up pictures of a man in a tux eating five full course meals a day in order to create a facade to encourage people to live like before. That man indeed was Herbert Hoover. That totally failed, and seeing Hoover’s luxury, the people living in poverty almost turned communist.…

Modern macroeconomics emerged in the climate of a decade (1929-1939) of high unemployment and stagnant production throughout the world economy known as the Great Depression. These were years of human misery on a scale that is hard to imagine today (Parkin, 2010). This essay will be centered on South Africa’s current situation and that of the USA during the Great Depression, but more emphasis will be placed on South Africa’s current situation. Initially, a comparison between the two countries…