Summary: The Great Compression

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A. There are many different activities that have lead to the The Great Compression started shortly after WWII between 1945 to the late 1970’s. Right after the war Roosevelt created programs after the Great Depression through the New Deal.
In 1980, Regan changed the course and decided to attack on the New Deal. The main purpose of the New Deal was to provide jobs to those who were out of work and recover from The Great Depression. It provided money to homebuyers to help with their mortgages so owners were able to stay in their home without getting kicked out due to lack of income. Many acts were created to The New Deal that gave people a little relief and helped society as well. Roosevelt created The Emergency Money Relief Act, which helped …show more content…
According to Joseph Stiglitz rent-seeking activities were actions that led to larger incomes due to the government controlling policies and creating new laws for the marketplace. This was taking income away from other and was unfair. Majority of the time, usually the one percent is the ones to take action on this. Rent seeking activities in the US led to the inequality that is growing tremendously in the economy. The government is able to set rules like regulating markets, and trying to twist roles that should no longer exist. The government should move the money around through the taxation policy. The one percent is taking the power that is leading us to the inequality instead of the government stepping in and taking …show more content…
Before the Great Recession in 2008, there were a few factors that led to the crash. Employment was a big factor in this crisis. Many workers began to work a lot of hours, which caused companies to pay employees more. After awhile companies decided that it was too much and thought it was in their best interest to hire more part time employees and pay them minimum wage. Many workers also were going to college, getting a degree and working in that field which made companies pay more because it was required. Prices began to rise and people started saving money but Keynes thought that instead of saving people should spend money and wanted to keep full time employment around as well. Keynes thinks because of this and the actions that were made to save money led the US to the Great
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