Topic: The Great Depression shaped economic theory, social life, and people’s views of a
market economy in general. (no outside sources required)
Adress these points:
1. Discuss the nature of the economic boom in the ‘Roaring Twenties’. Do you believe that market capitalism is always prone to booms and bust? If so, then Why? (25%)
2. What were some of the policies Keynesian economists proposed doing, to get society out of the depression? Explain them and, most importantly, the logic behind them. (35%)
3, Explain how the Keynesian approach to guide economic public and government policy, constituted a ‘middle way’ or ‘centrist’ approach compared to the ‘liberals’ and the ‘radicals’
in the USA in the 1930s. (20%)
4. Do you think that the United States can face another Great Depression in the near future?
Give explanation as to why or why not. (20%)
Additional Directions:
-Should be direct and analytical, with a word length being about 2000 words (about 8-10 typed pages) plus, maximum 2500 words. I am most interested in the insights and thoughtfulness you bring to the material, and you will be graded accordingly. Be sure to draw upon the assigned literature to sustain and defend the arguments you make. The specific criteria for grading are posted on Canvas. When using sources directly, such as in quotes, indicate the reference with in-text citations; e.g., (Payer 1977, 15). However, try to minimize direct quotes unless strictly necessary, and write in your own words.
