ipl-logo

Industry In The 1930's

1156 Words5 Pages

Industry.The sky scraping smokestacks and the large compounds.It is what made the modern world what it is today and helps us thrive. The United States was made from industry and industry is what has helped propel it into the world power that it is.Envision a map of the U.S and then look to the east and narrow it down on North Carolina until you find Caldwell County. Caldwell County has had its share of successes over the years, for example country singer Eric Church and Major League Baseball player Madison Bumgarner.It has also had its share of problems.One of these problems is the lack of new industry coming into the area in recent years. Let us begin at the Great Recession of 2008. Before the recession, unemployment rates were between …show more content…

The policymakers looked to see what could be done to avoid and amend mistakes made during the Great Depression. During the 1930’s, the national leaders at the time went with fiscal plans to based on balanced budgets. Tax revenue at the time fell with economic growth and when the economy needed spending it was cut. Thankfully this time the U.S government did not cut spending. Instead they spent money on projects as simple as road construction and schools. This in return stimulated the economy and resulted in it not completely turning to …show more content…

North Carolina, especially Caldwell County, has a rich history saturated in the furniture tradition. It started in the seventeenth century when English furniture artisans migrated into North Carolina and settled across the state. Counties like Catawba,Caldwell, and Alexander were settled in the Piedmont Triad for their abundance of wood. Then beginning in the 1990’s, North Carolina began to feel the effects of foreign competition.This lead to companies laying off workers and the eventual shutdown of several companies.Then China entered the world playing field in 2001 when it entered the World Trade Organization.This would eventually spell doom for several companies and millions of jobs. As materials and labor, along with cheap wages, increased overseas in areas like China, companies decided to shift plants and production overseas. This lead to major job loss in Caldwell County. Exports from North Carolina grew at a steady rate from 2002 until 2008, with an increase from $153 million to $300 million. Then the recession of 2008 hit and exports dropped by 38%. Unemployment was already decently high before the recession but when it hit in 2008, unemployment rose up to a staggering 15% in Caldwell County. Today exports have yet to reach the peak it was at in

Show More
Related
175 Words | 1 Pages

An economy that is good is very important in a country. In 1929, on the last day of trading, President Hoover did announce that the economy of United States was fundamentally sound. This announcement made the Department of labor in United States to predict that in the next year, 1930, there would be an increase in the number of employments. Things did not go as expected because the economy became bad. This made most investors and even the public in general, withdraw their money from banks because they feared banks would get out of business.

Read More
811 Words | 4 Pages

Nathaniel Ortiz HISTORY 152 Professor Jonathan Rosenberg Section Leader Hamilton Craig December 2022 Paper #3 Documents: “President Herbert Hoover Applauds Limited Government 1931” and “President Franklin D. Roosevelt Says Government Must Act, 1933” President Herbert Hoover and President Franklin D. Roosevelt were both significant government figures during the time they were president. During the time both were presidents, the United States was in a crisis known as the Great Depression which lasted from the early 1930s to the early 1940s, ending during World War II. The great depression is known to many as a time of economic disaster. During this time there was a stock market crash, the money supply plummeted, banks failed, and

Read More
588 Words | 3 Pages

The government took a big stand during the Great Depression to help the people and make America a great place to live again. It was time for government to step in and help all the people that needed resources from the government. The government created programs to bring relief,recovery and reform to the country. Without any guidance from the government to the people the country would have folded completely. The unemployment sky rocketed which caused the government to have no choice but to step in.

Read More
564 Words | 3 Pages

The wealth during the 1920s left Americans unprepared for the economic depression they would face in the 1930s. The Great Depression occurred because of overproduction by farmers and factories, consumption of goods decreased, uneven distribution of wealth, and overexpansion of credit. Hoover was president when the depression first began, and he maintained the government’s laissez-faire attitude in the economy. However, after the election of FDR in 1932, his many alphabet soup programs in his first one hundred days in office addressed the nation’s need for change.

Read More
615 Words | 3 Pages

The United States entered a period of economic catastrophe known as the Great Depression following the 1929 stock market crash. The political, economic, and social institutions of the United States were terrible during this period of time .Though there is not a specific reason for the Great Depression there are obviously contributing factors such as the overproduction of goods and the 1929 Stock Market Crash which is often said to have been the main leading factor to this catastrophe. The American people and the American government looked for solutions to the issues that Americans faced throughout the 1930s. Among the solutions, President Roosevelt introduced programs known as the ‘New Deal’ which were meant to relieve the American people and get the economy back on track.

Read More
662 Words | 3 Pages

During the Great Depression, Herbert Hoover was faced with a myriad of tough decisions. He opted to inject money into infrastructure projects to create jobs, boost consumer spending, and revitalize struggling industries like steel and construction. Improving infrastructure would have long-term benefits by enhancing roads, bridges, and public buildings, ultimately bolstering the economy for years to come. However, Hoover, being a fiscal conservative, was concerned about the national debt and the potential consequences of deficit spending, such as inflation and a loss of confidence in the government's financial stability. Moreover, implementing large-scale public works projects could be slow and susceptible to corruption.

Read More
366 Words | 2 Pages

The Great Depression that took place in the 1930’s had a devastating impact on the United States’ economy. There were many influencing factors that led up to the Great Depression such as a stock market crash and a large gap between the rich and poor. The president at the time, Franklin Roosevelt, and his administration, responded in numerous effective ways such as the enactment of the New Deal which expanded the federal government’s role in the nation’s economy. President Roosevelt enacted legislature called the New Deal. The New Deal was considered an aggressive tactic by many of the president’s critics.

Read More
477 Words | 2 Pages

After the stock market crash of 1929, millions of people struggled just to get something to eat and a roof to sleep under. The program created by FDR allowed America to get up and dust itself off. It created jobs and many organizations that were responsible for many of the public works and government agencies we still use today. The change in income between 1929 and 1933 was drastic.

Read More
919 Words | 4 Pages

The Great Depression of the 1930s severely crippled the United States economy, leading to widespread unemployment, business failures, and poverty. Thousands of banks around America went bankrupt, and millions of people lost their livelihoods and fell into poverty. The Roosevelt administration, in particular, was tasked with managing the economic crisis. He attempted to manage it through the New Deal. The New Deal programs aim to revive the economy and reduce unemployment.

Read More
554 Words | 3 Pages

During the 1930’s, America’s economy had reached its lowest in history. This time period was known as the Great Depression era. Famous politicians during this time had many great ideas on how to solve the plummeted economy. President Roosevelt created the New Deal in hopes to solve the United States’ many problems. There was a similar idea to the New Deal program that strived to make all people equal within the way of living created by Huey Long.

Read More
952 Words | 4 Pages

Americans have always depended on the government to implement changes and reforms that comply with people’s needs of the time. As time has passed, the federal government’s responsibility has changed to meet the demands of its people. The expansion of the federal government role can be seen in both the New Deal Programs and the Great Society Programs. The New Deal Programs were implemented by President Franklin D Roosevelt to combat the economic hardship of the stock market crash of 1929 and its effects on society. The Great Depression was the result of the stock market crash that left America in an economic downturn and many unemployed.

Read More
513 Words | 3 Pages

Federal spending increased from $9.4 billion in 1939 to $95.2 billion in 1945, and the gross national product more than doubled in that time. Massive wartime spending ended the Great Depression. In the 1930s most economists believed that the economy would fix itself if the government did not interfere. English economist John Maynard Keynes, on the other hand, argued that deficit spending - government spending of borrowed money - should be used to get a depressed economy moving again. Deficit spending during World War II instantly turned the economy around.

Read More
650 Words | 3 Pages

What Will You Do for Cash The 1930’s in the United States were difficult for not just the economy but also the people who lived through it. In the ‘30s The Great Depression was in full swing and unemployment was hovering at about 25% at its peak in 1933. Also at its height in 1933, roughly 13 million American’s were unemployed and struggling to not only take care of themselves but also, many had families to take care of as well. 1938 was just one year prior to the end of The Great Depression, which ended in 1939.

Read More
711 Words | 3 Pages

Besides fiscal policies there were also monetary policies that were implemented during this time that helped provide much need liquidity and better financing options within the market. Without these much-needed policies the Great Recession would have lasted much longer than in did. Even today we are still feeling the ramifications of the Great

Read More
245 Words | 1 Pages

The 1920's should be remembered as a cynical but carefree time of jazz, gin, and socioeconomic prosperity. Modern cultural norms were drastically affected during this period. Numerous technological innovations evolved, and mass production of technology plagued the United States, ultimately benefiting, and negatively affecting economic, social, and political gestures. Whereas the telephone and radio had already been invented, they became of popular use during the early 20th century, both of which were used to positively alter the entertainment industry. Phonograph technology saw rise during this period, which allowed musicians (such as jazz instrumentalists, whose study is primarily based on improvisation techniques) to produce phonograph recordings

Read More

More about Industry In The 1930's

Related Topics

Open Document