Wednesday, November 27, 2019

Economic Depression in USA

Introduction Economic depression is defined as the sustained and prolonged down-turn in the economy of a country. Depression is considered more extreme and severe than economic recession. Though depression is considered a form of recession only that depression is characterized by its length, the abnormality of economic factors like rising cases of unemployment, decline in credit availability and also shrinking output and highly volatile monetary value.Advertising We will write a custom report sample on Economic Depression in USA specifically for you for only $16.05 $11/page Learn More Depression is linked to the following two indicators; decline in the Gross Domestic Product by a margin of more than 10% and secondly a recession period exceeding 2 years. According to Foldvary, recession is derived from the word recede that implies falling back and it lasts for a very short time and depression is understood based on the degree of output fall and the extend of the down-turn (Foldvary 3). An economic depression happens when there is fall in output below the long-run trend. The Depression of 1873-1879 This depression was as a result of the bankruptcy of the railroad investment firm of Jay Cooke and company and particularly the restrictive monetary policy of the federal government; this is whereby the gold standard increment could not maintain the pressure for money demands that could enhance the growth of the economy. Deflation is also a factor that led to this depression (Watkins and Allay 1) The Depression of 1893-1898 This was considered to be the worst form of depression ever witnessed in the US before the 1930. It first emanated from the agricultural crises that affected the southern cotton belt and the Great Plains in 1880s and it later hit the Wall Street and the urban areas in 1893. This from of depression led to a massive unemployment which is still considered the highest in the US history at 20-25%, the depression resulted in widespread poverty among the Americans of various income levels. The magnitude of the depression was so acute that by 12896, it was made a popular subject of political campaigns (Edwards 1) The Great Depression of 1929-1933 The United States of America experienced the worst, the longest and the most severe economic depression in the year 1929. This depression led to an acute decline in output, extreme unemployment and drastic deflation in the USA and it has been ranked the second calamity to the civil war.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This depression was largely associated to several factors like the reduced consumer demand, great financial panic and misplaced government spending that forced a fall in economic output. This depression led to the reduction in industrial production by 47% and the subsequent reduction of the Gross Domestic product (GDP) by 30%, it also resul ted in the decline in the wholesale price index or otherwise referred as deflation by 33%; also the unemployment rate reached 20% which was considered the highest point at that time (Romer 1). This depression is just considered severe when compared to the next depression to hit America in the year 1981-82 that resulted in the decline of GDP by 2%. The USA recovery from this depression began in 1933 when the GDP began to improve at 95 per annum (Romer 3). The 1930 depression saw the increased level of unemployment characterized by a lot of labor force but no work to do and the worst part of depression was in 1933 when the unemployment rate fall below 10%. Recession appeared twice during the great depression, in the august of 1929 and March of 1933 between as indicated by the following graph; Concerning unemployment, the high rate of unemployment is demonstrated by the following graph; Advertising We will write a custom report sample on Economic Depression in USA specifically fo r you for only $16.05 $11/page Learn More Another main indicator of the great depression is the GDP which was greatly affected as seen in the following graph; During the great depression, the most hit sector was the banking sector. The following table is an indication of how banks were affected including the number of suspended banks and also indicates the decrease in the number of banks as a result of merger, failure or collapse and voluntary liquidation. Number of banks and bank suspension Year Number as of 12-31 Suspensions 1929 24,633 659 1930 22,773 1350 1931 19970 2293 1932 18,397 1453 1933 15,015 4000 1934 16,096 57 Causes of the Great Depression The most critical cause of the great depression in the USA was the reduction in spending or otherwise referred as the reduced aggregate demand; this resulted in decline in production since manufacturer noticed an anticipated rise in inventories. This was reflected in other countries due to the factor of gold standard. Other factors that necessitated the great depression are: The stock market crash: the great depression is associated with the tight US monetary policy that targeted the limitation of stock market speculation; this was due to the mild recession that had been witnessed between 1924 and 1927 that had witnessed the massive rise in the stock prices in 1920 and reached the optimum in 1929 and as an immediate measure, the federal reserve had raised the interest rates in order to stop this spiraling stock prices and this largely affected the construction and the auto mobile industries. The fall in the stock prices in 1929 to extend that could not be justified by the anticipation rate resulted to the loss of investor confidence and subsequent bubble burst in the stock market.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This led to the panic selling on black ‘Thursday’ on October 24, 1929. The previous rise on stock prices had triggered a massive purchase of stock by the investors using loans and hence this price decline forced some investors to liquidate their holdings thus worsening the fall in prices. This crash in the stock market led to the considerable reduction in the consumer aggregate demand especially in the area of durable goods and investments and great fall in output. Banking panic and monetary contraction: this was experienced in the year 1930; banking panic occurs when â€Å"many depositors lose confidence in the solvency of banks and simultaneously demand their deposits be paid to them in cash† (Romer 8); this can lead to those banks that hold deposits as cash reserves to liquidate loans so that they be in position to pay the cash demands. This process of immediate liquidation can force any solvent bank to collapse. This continued till 1933 when President Frankli n Roosevelt proclaimed the ‘bank holiday’ in 1933 that involved the closing of all banks and could only re-open upon being considered solvent by the government inspectors. Economists largely associate this bank panic to the â€Å"increased farm debt in 1920† (Romer 8) and government policy that encouraged â€Å"small and undiversified banks† (Romer 8). The gold standard: economists largely associate the 1929-1933 great depression to the Federal Reserve; they accused the federal reserve of causing a big decline in the American money as a measure to preserve the gold standard. The gold standard implied that each country should fix the value of its currency based on the standard of gold. International lending and trade: the USA had expanded its foreign lending to Germany and the Latin America, this declined in the 1928 and 1929 due to the high interest rates and the flourishing stock market; â€Å"this reduction in foreign lending resulted in credit contract ion and the reduction in the output of borrower countries† (Romer 8). Economic impact of the Great War: when the first broke, no one expected that it would be of the magnitude witnessed; no one predicted the length of the war, the economic expenses of the war and the degree of destruction. The war caused a lot of infrastructural destruction, loss of lives and monetary value in the countries of Europe; this on the other hand precipitated a period of economic boom in the countries of Canada, USA and Latin America since the countries of Europe exhausted their gold reserves to borrow money, other countries also printed extra money. This war interrupted with patterns of domestic and international trade which preceded the economic depression. Sources of Recovery The two main ways of curbing the inflation were indentified as the currency devaluation and monetary expansion. Devaluation â€Å"allowed countries to expand their money supplies without concern about gold movements and exc hange rates† (Romer 8). Another way of curbing the crises was through the imposition of protectionism measure; this led to the launch of various tariffs, the 1988 US presidential seat was won through protectionist ticket. Economic Impact of Depression The depression influenced the US economy in a great way; some of them include the following: Human suffering: for the very short time of the depression, there was drastic increase in the output and the standard of living also a substantial fraction of the labor force could not find employment. Change on world economy: the great depression brought to the end the international gold standard era. Increased government involvement in the economy: after the depression, there was an increased government participation in the economy particularly in the financial market; evidence was the establishment of the Securities and Exchange Commission by the USA. Development of macro-economic policies: most of these policies were aimed at curbing the downturns and the upturns. Conclusion Depression is considered one of the worst macroeconomic aspects that can befall a country; the effects of economy are so devastating since its impact can be felt across the world. The US have experienced a lot five depressions of different magnitude and that has equipped it with experience on the various macroeconomic issues that are required to tame any further depression. The US has on the recent past experienced only recessions which are considered mild form of depression. It is worth mentioning that from the five economic depressions to have hit the US, all the possible remedies have been tried and applied, despite all the efforts it is not clear whether the business cycle that lead to depressions has been removed. Depression an also be considered a natural economic aspect that can be beyond government intervention. This is exemplified by the economic depression of 1907 and 1920 which was eliminated within a year without the government i ntervening. Works Cited Edwards, Rebecca. The depression of 1893. Projects, 2000. Web. Foldvary, Fred. The Depression of 2008 2nd edition. The Gutenberg Press, 2008. Web. Romer, Christina. Encyclopedia Britannica. Berkeley, 2003. Web. Watkins, Thayer and Allay, Tornado. The depression of 1873-1879. University of San Jose State, 2011. Web. This report on Economic Depression in USA was written and submitted by user Cadence Short to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Sunday, November 24, 2019

Construction and Building Trade Students Essay Example

Construction and Building Trade Students Essay Example Construction and Building Trade Students Essay Construction and Building Trade Students Essay This section is devoted to learning basic information about the students and their jobs. It contains different activities to learn more about the students, including activities about what the students’ responsibilities in their jobs are, what they might wear on the job, and when they might need to use language. A teacher can come in with the answers already and test’ the students’ knowledge, or he can ask the students to tell him.The purpose is to make the students think about what they need to know and what they already know, as well as for the English teacher to show an interest in the students’ careers (which are the reason they’re there). It is also important to look at how the classroom differs the from the students’ workplace, which is the final activity in this section. These activities lay the groundwork for the climate in the classroom, how much the students and their needs are respected, etc. It is very important for the teacher to establish ground rules and foster an environment of mutual respect.Organizational Structures In every business, there is some form of organization. This includes the structure of employees and supervisors, and chains of communication. Writing out an organogram’ can help the students to understand these chains of command and also learn who to communicate with and how to do so. The organogram focuses on asking students different questions about who is in charge in the organization, what different departments may exist, the different classifications of employees, etc.Students are shown an example and then asked to complete this for their own trade, or a trade example that t he teacher chooses. It is very important for students (especially those with limited language skills) to be very clear about the organizational structure within their organizations. Students should learn what their role is, who they will communicate with directly, who is supervising them, who they are supervising (if anyone), who to go to with problems, how to deal with instructions, etc.It can be hard for a student with limited language skills to discern this information from the workplace without any prior knowledge. In order to avoid overstepping boundaries, students should be well-equipped to know or learn the chains of command and communication within their own work places. Once the students have identified the company they’d like to work for, they must have the skills to interview with that company, which is also included in this section. When students have secured employment, they will need to be aware of how job responsibilities will be communicated, and how to respon d to them.This may include to-do lists, dictating tasks, or communicating with other employees on the job. There are many different situations the student may encounter on the job, and they should be prepared to handle each situation when possible. Vocabulary Students with limited language skills may not understand key vocabulary that is necessary for their jobs, which is why teachers should focus on providing them with words they will need to know. This is crucial so that students can understand what is being said to them on the job.The first activity is a personal job dictionary,’ which involves the student creating a list of words and definitions (or translations) that he or she will use frequently on the job. This is a very handy reference after the activity is completed, and also functions as a good introduction to on-the-job vocabulary. Once a basic vocabulary is established, students can write down any words or phrases that are unfamiliar to them, and do activities whi ch relate to figuring out the meaning of these words or phrases.They can practice using and reading these words and phrases with partners or in small groups, in order to simulate using them in the workplace. This is a very practical activity, as it gives students a chance to work with important words and phrases in real contexts. A final activity is to have the students look at pictures of objects they may encounter, and ask them to name them. Recognition is important. Also, this uses the student’s visual learning skills, which is also important. Some students will learn much better if they can see the objects than if they simply talk about them or read the words for them.

Thursday, November 21, 2019

Crime and Los Angeles Case Study Example | Topics and Well Written Essays - 1000 words

Crime and Los Angeles - Case Study Example Though recently there have been lots of security measures undertaken by the government, yet there happened to be crimes occurring in and around the city. The purpose of this paper is to report one of the crimes that had taken place in the city and produce a critical view of it.In this paper, I have taken the case of Thelma Todd, a popular actress of the late 1920s and early 1930s. Though this case may appear out of date, I am quite interested in it because the investigation was not fully successful and it only ended with guess. So, let us see the case in detail.Thelma Todd was a school teacher and model before she started her career as an actress. She was born in Lawrence, MA in 1905. She grew as a very popular and leading actress by acting in more than fourty films. She established a great career and was so successful with every role she took. It was on the morning of December 15, 1935 the world knew that she was dead. It was a great shock for millions of people around the world. He r body was discovered in a car, just beside her own restaurant. At the first glace of the investigation it was decided that the case was a suicide as the carbon monoxide fumes were flowing inside the car with all the doors and glasses shut. Few people who were closely associated with the actress also supported this judgment because they had seen her caught between several problems and that she was always trying to put an end to everything. SUICIDE OR MURDER According to the Grand Jury investigation, it was reported that there were signs of wound in her face and mouth. This view supported the opinion that she might have been knocked off and then had been placed in the car by the murderers. The spots of blood on her face was highly supporting for this murdering view. But despite of all the attempts of the jury, nothing could be found as the true cause of the death. So the Grand Jury finally ruled her death as suicide. The inquest into her death revealed more questions than answers. Many suggested that Thelma may have committed suicide. It was not an uncommon method for such an act, but then murders had been committed in a similar fashion. TRACES In addition, if she had killed herself, where had the blood on her face and clothing come from' To make matters more suspicious, an autopsy had revealed that Thelma had suffered a broken nose, several broken ribs and enough bruises to suggest that she had been roughed up. Minute and fresh finger prints on her body as well as in the body of car seemed to arose plenty problems, but nothing helped in pin pointing the true criminal. SUSPECTED ONES The inquest into her death revealed more questions than answers. Roland West, the leading director and her husband seemed to be likely the suspect. But there was no strong evidence to prove it and many confusing things emerged making the case unsolvable. Another important person to be involved in the suspect list is Luciano, a dangerous mobster of that time. There was too no evidence to prove him as the cause because many were afraid of him and his notorious group. Thus, the case remained unsettled even after so many years. CONCLUSION No one were able to find out what really happened on the early hours of December 15th. Thelma Todd's case still seems to puzzle everyone. Many believe that the restless soul of Thelma Todd, still wanders around the place where she had lived. Many have seen strange things taking place in the area surrounding where her soul departed. Whatever it is, from revisiting the case I would like to conclude that this was one such crime for which there was no answer. Even now, there seem to be crimes happening like this which are really challenging for the