My research paper needs to be on how the government addressed past

My needs to be on how the government addressed past economic downturns and recoveries, what caused them and wha - Research Paper Example The government has been responsible to respond to the poor health of the economy, struggling to find a way in which to regain ground so that the millions of those suffering economically could recover. The many avenues towards economic health that the government has taken have been wide and varied, depending on the policies and the platform of those who were in office. The first true crises of the 20th century occurred in 1929 as the collapse of an ill-conceived stock market plan led to the collapse of industry within the United States. The 1930’s was a time filled with the doom of her citizens, the hard economic times creating a void that left many without jobs, without hope, and without enough to sustain their families. The 1940’s saw an economic challenge of a different kind as World War II took a great deal of resources that meant that citizens had to make significant sacrifices. However, the war led into the 1950’s, a time in which the innovations from the te chnologies that were created from the wartime efforts provided for a surge in commerce, the beginning of a global economy providing for high levels of income for Americans. The 1970’s saw the United States in a state of a recession with many losing their jobs and a notable shift in the way in which employment was viewed became a part of the sociological landscape. Black Thursday On the day that would come to be called Black Thursday, October 24, 1929, the stock market fell 34 points, which represented a 9% drop for the day. The extremity of the day was caused by a selling panic, driving the prices down and losing billions for investors. The simple answer about how it was caused was because of the speculator boom, but the causes were far more complex than the traditional answer to this question. The market was in a highly sensitive state by that fateful day, some of which was due to the real estate decline starting in 1925, some due to simply because the fear of a crash caused a run that caused a crash. The market had come to a high plateau and the fear of the end had caused the inevitable end. The rising stock prices were less due to value than to speculation manipulations. As an example, RCA was worth $1.32 in 1925, $6.15 in 1927, and $15.98 in 1928 before the stock split (Bierman, 1998, p. 9). The 1920’s represented a rise in technological advancements that affected the nature of American life. The automobile industry evolved during this period and the innovations of the Ford company in assembly line management and the level of wage paid to the workers created a working atmosphere in which the middle class was being born. Money was flowing and people were experiencing a new level of comfort that had never before been experienced. However, when the crash took all of that away, the resulting depression plummeted that emerging middle class into a poverty that was unprecedented on American soil. Farmers experienced losses that could never have been predicted, food prices at all time lows. Market Prices as they Plummet (Crewe & Ingram, 2005, p. 20) Homelessness was rife and ’Hooverville’s popped up all over consisting of huts in urban landscapes without electricity, water, or sanitation, named after President Hoover as ultimately,