1. The Great Depression
... wartime production, the nation's output almost doubled, and unemployment plummeted--from more than 17% to just over 1%. In those 7 short years after the Depression, the US went from its worst economic hardship to its greatest economic boom. John Maynard Keynes forever changed the government policy. America's Employment Act of ... promote maximum employment, production, and purchasing power." This reshaped the Fed and gave them a new infrastructure, which has held true and prevented another depression. One thing clearly visible is that our economic institutions are very different today t...
- Word Count: 1299
- Approx Pages: 5
- Has Bibliography
- Grade Level: Undergraduate