The Marxist Theory Of Stratification: A Critical Analysis Of The Great Depression

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The Great Depression was the longest-lasting economic slump that the United States and most of the Western industrialized world has ever experienced. For about ten years, American families were living in poverty and struggling to survive. Countries around the world watched as their economy crumbled around them. Most effects were heavily felt until the start of the Second World War in 1939. There have been many theories as to what exactly caused the depression and what the smartest method was to overcome it. In this paper, I will examine these topics along with how the Marxist Theory of Stratification can be a helpful tool when analyzing the Great Depression. By the 1920’s, America was used to enduring economic recessions. According to The…show more content…
It is the purest form of supply and demand; it keeps the government from interfering in the market. This creates a completive market where producers are free to create new products and make improvements on older items. This method also gives the power back to the people. The customers are who ultimately decide which products are successful and which are not. This maintains a relatively constant price for products so firms stay competitive while trying to make a profit. With all these benefits, there also comes a major drawback. Once a free market starts to fail, it is very difficult to stop the crash. The great depression is an excellent example of this. As president Hoover refused to give federal aid to the nation, both unemployment and homeless rates continued to grow. He began to work towards a balanced budget by supporting local aid for public workers, but the country called for much more. Hoover resented federal government involvement in the economy. He feared it would turn America into a socialist…show more content…
He went to congress and convinced them to end prohibition. This pleased the American people, cut back on violence and put citizens back to work in the beer industry. Just two months after he was sworn in as president, he signed the Tennessee Valley Authority Act. This was the first step towards allowing the government to aid in the country’s recovery. Not only did the Act allow the government to build dams along the Tennessee River to control flooding, but it also generated inexpensive hydroelectric power. Actions like this created jobs for people who were looking to get back on their feet and work towards an end to the depression. This was just the first of many ideas that the president had. Soon after, the TVA Act came the Agricultural Adjustment Act and National Industrial Recovery Act. Both were popular among the people and workers of America. Roosevelt stayed true to his word when he promised to take swift action in his first hundred days as president. During that time period, he passed over ten laws that helped the economy and work force. However, his work was far from
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