In: Economics
Can someone give me an outline idea for this essay :
1. Between the Civil War’s conclusion and the New Deal (1865-1940) the perceived role of government, long viewed as strictly limited, began to change in response to growing economic complexity, matters of civil rights, and questions of national security. Choose three examples from this period that illustrate such expansions of governmental power, explain them, and then assess how well they balanced acting for the common good while still respecting individual rights and the free market. (Reconstruction, the Progressive Era, World War I, and the New Deal are good places to focus upon for this question)
After the World War 1 there was a shift of landscape of ideas about the economics and the proper role of government in economic activities. When the war began the U.S economy was in a recession then economic boom resulted from 1914 to 1918 as the Europeans began purchasing U.S goods and services for the war. Then the United States it swelf joinned in to the battle in 1917, which unleashed a massive federal spending which shifted the production of civilian goods to war goods. During the period of 1914 to 1918 the unemployment rate fell from 7.9 percent to 1.4 percentage. This is happened because workesrs moved to new manufacturing units and moved to military. The World War 1 costs U. S to a USD 32 billion approximtely 52 percentage of gross domestic product at that time. As a part of the war effort the U.S government attempted to guide the economic activoiity via centralized price and production controls administered by the War industries board. The U.S government took such an active role economic affairs during the war, subsequent increase in federal spending resulted mainly from war related matters. Nevertheless, the successful wartime experience "increased the confidence on the left that central planning was the best way to meet a national crisis, certainly in wartime, and possibly in peacetime as well." This view became increasingly important after the Democrats reached power during the Great Depression. The scope and speed of government expansion in the 1930's were likely greater because of the impact of the war on new economic and political leaders.