Reference no: EM133431592

Question

Charles Beard, an American historian at Columbia University, in his work, An Economic Interpretation of the United States Constitution, posited the theory during the 1930s and 1940s, that the main cause of the origins of the Great Depression was relentless and unregulated capitalism. Beard even extended the proposition that the 1920s was a good case study of how the Constitution, as a basic law, was actually used as an economic tool benefiting the private sector than the interests of the public sector-at-large. Given Beard's thesis and even recalling the recent economic events of 1987 and 2007, one can conclude that the Constitution is indeed an economic document used to preserve the self-interests of the private sector at the expense of successfully preventing financial crises and greater economic depressions.