Reference no: EM133791684 , Length: Words Count:1000

Essay

In a short essay describe how class themes, entrepreneurship, innovative technology, and role of government impacted course content of Use specific examples. 1,000 words minimum

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The stock market crash of 1929 set in motion an economic spiral that resulted in America's greatest economic crisis up till that time. Massive unemployment and business failures were widespread. Despite the negative economic environment, certain companies continued to prosper and develop important innovations in their marketing and advertising. A good example was Proctor and Gamble, who led the way in introducing the concept of brand management which became a new and profitable addition to American Capitalism

The presidency of Franklin Roosevelt represents a watershed in the powers of the presidency and the federal government. Through Roosevelt political charisma, the American private sector received a massive dose of federal programs, in addition to federal government applying more efforts to regulate and reform the American economy. The impact on banking, the stock market and labor were unprecedented. The business community did become hostile at times, and the Roosevelt administration reevaluated certain programs, but the relationship of business and government were dramatically changed. Keynesian economics became the standard regardless which political party was in power. Equally of watershed proportions was the impact of World War Il on American Capitalism. American production capabilities were spectacular, although the early distribution of wartime resources was difficult and inefficient. Under the leadership of Ferdinand Eberstadt, order and efficiency was applied and the American war machine ultimately was the difference in the defeat of Germany and Japan. In part due to the military necessities of the war, the Aviation Industry expanded, and this would impact the expansion of commercial aviation in the postwar years. At the conclusion of World War ll, the American economy was clearly the most dominant and vibrant in the world community, and continual reevaluation of the political role of government in both the international and domestic economy would continue

Objectives

At the end of this module, students should be able to:

• Assess the New Deal's impact on banking, economic recovery and labor
• Examine business opposition to the New Deal
• Summarize how American Capitalism affected the international economy following World War II.