History Before It Was Called History

  There are many theories as to why the Great Depression occurred at the end of the 1920s. There were three main theories that were discussed in more detail. Nick Lioudis defines two of these as “Keynesian Economics”, which focuses on how government spending controls the economy, and “Monetarism”, which focuses on the control of the money supply to control the economy.” [1] And the third, known as the “Austrian Theory”, which promotes more individual subjective choices and the limits on which choices are made. [2] In reviewing the different theories on the cause of the Great Depression, they tend to favor the one by Ben Bernanke [Monetarism] that says it is because of some of the mistakes that the Federal Reserve made leading up to 1929, which led to the “worst economic disaster in American history." [3] Congress established the Federal Reserve in 1913 to help maintain economic stability within the United States. [4] When the Federal Reserve failed to provide economic stabi...

    Steel and Lumber in Postbellum: 1865-1900; An Economic Comparison   In the years between 1865-1900, there were many changes that took place in some of America’s industries that became evident to the many who examined these industries closely for an economic comparison.     They can look at two of these industries, steel and lumber, for this evidence of economic growth. They will review articles and publications, along with data provided by US Government agencies and industry records. They can determine from this data that both of these industries showed 7 to 10 times economic growth during the Postbellum period from 1865-1900. [1] These increases in steel and lumber outputs can be reviewed in graphs found in this blog. They will be able to do a comparison analysis between the steel industry and the lumber industry. The methodology used in this research was reviewing articles and journals that were related to this topic. Government agency publications...