FDR altered the direction of the nation's economic direction. What were the causes of the Depression? Discuss the cornerstone policies of the New Deal and their effectiveness. Now, let's fast forward to the "Great Recession" in our times. Today the Republican Party stands in opposition to

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Business

Holland

25 December, 00:25

FDR altered the direction of the nation's economic direction. What were the causes of the Depression? Discuss the cornerstone policies of the New Deal and their effectiveness. Now, let's fast forward to the "Great Recession" in our times. Today the Republican Party stands in opposition to

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Kenneth Kramer · Answer 1

The causes of the Great Depression were many and varied, but the impact was visible across the country. By the time that FDR was inaugurated president on March 4, 1933, the banking system had collapsed, nearly 25% of the labor force was unemployed, and prices and productivity had fallen to 1/3 of their 1929 levels.

Later, a second New Deal was to evolve; it included union protection programs, the Social Security Act, and programs to aid tenant farmers and migrant workers ... In the long run, New Deal programs set a precedent for the federal government to play a key role in the economic and social affairs of the nation.

Explanation:

The Great Recession-sometimes referred to as the 2008 Recession-in the United States and Western Europe has been linked to the so-called "subprime mortgage crisis." Subprime mortgages are home loans granted to borrowers with poor credit histories. Their home loans are considered high-risk loans.