a long recovery
When he accepted the Democratic Party's nomination for the presidency in 1932, Franklin Roosevelt pledged "a new deal for the American people" (Atack, 1994, p. 625). When he assumed office, the American system of democratic capitalism faced a crisis of monumental proportions. Economic distress and social unrest were widespread. In 1929, Hoover's first year as president, the prosperity of the 1920s capsized. Stock prices climbed to unprecedented heights, as investors speculated in the stock market. The bender, in which people bought and sold stocks for higher and higher prices, was fueled by easy credit, which allowed purchasers to buy stock "on margin." If the price of the stock increased, the purchaser made money; if the price fell, the purchaser had to find the money elsewhere to pay off the loan. More and more investors poured money into stocks. Uncontrolled buying and selling fed an upward spiral that ended on October 24, 1929, when the stock market collapsed. The great crash shattered the economy. Fortunes vanished in days. Consumers stopped buying, businesses retrenched, banks cut off credit, and a downward twist commenced. The Great Depression lasted through the 1930s. Since the crash of '29, the va
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Some common words found in the essay are:
Franklin Roosevelt, Youth Administration, According TNEC, Keynes FDR, Schumpeter Keynes, Hundred Days-, Start Page, Congress United, Advertising Intereste, Budget Deficits, atack 1994, badger 1989, watkins 1993, federal government, national industrial recovery, national industrial, donovan 1985, schlesinger 1950, recovery act, galbraith 1984, atack 1994 pg, american people, industrial recovery act, watkins 1993 pg, established national industrial,
Approximate Word count = 2291
Approximate Pages = 9 (250 words per page double spaced)
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