Keynesian economics (pronounced /ˈkeɪnziən/, "kane-zeean"), is an economic theory based on the ideas of twentieth-century British economist John Maynard Keynes. This theory became popular in the United States during President Franklin Delano Roosevelt under his New Deal programs that were aimed at helping the nation recover from the Great Depression (1929-1936.) The state, according to Keynesian economics, can help maintain economic growth and stability in a mixed economy, in which both the public and private sectors play important roles. In the United States, this theory became popular during President Franklin Delano Roosevelt's New Deal regform programs that required vast government spending in order to restore the economy and help the nation recover from the Great Depression (1929-1936.)
1) Consider what you have learned about the New Deal as well as the positive and negative aspects of government spending to relieve poverty and social programs. Then read the following article:http://money.cnn.com/magazines/moneymag/moneymag_archive/2007/02/01/8398768/index.htm
2) Respond to the author's question "Is it Time for a New New Deal"? Be sure to support your position with facts from class and the article itself.
Your response should be 200 words and must include a response to another post.
CREATIVE ASSESSMENT OPTION
If you prefer, you may create a poster or power point on the New Deal instead.
Your poster or power point must include ALL of the following:
a) a 150 word summary (in your own words, of course) of the New Deal program and how it relates to modern US society.
b) Written analysis and inclusion of TWO primary sources (photos, political cartoons, quotes, etc.) related to the topic. Include at least one visual source. (at least 50 words more of your own analysis, for a total of at least 200 words.)
c) an MLA works cited list of works beyond class materials that helped you create this project.
DUE MONDAY 5/12 AT THE BEGINING OF CLASS
Remember to do something nice for your mom or someone who is like a mom to you on Sunday, which is Mother's Day!
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11 comments:
Khadijat Olagoke
8 May 2008
For me, The Great Deal written by President Franklin Dealano Roosevelt had and still has a high efficiancy to accomplish its purpose. After the Great Depression, which occured from 1929 to 1936,as president, Roosevelt had to find some sought of way to a restore the nation. Roosevelt came up with many programs incorporated in the New Deal. The programs would be government paid programs that gave money and other aids to the poor and other social problems. For one, the Social Security Act is to me very helpful. It gave pension to retired workers, unemployment insurance,aid for the disabled and surviving children of deceased parents. It allowed money to be in the pockets of some who didn't have any. Another successful program, was the Federal Deposit Insurance Cop. The program guaranteed banking deposits up to a maximum of five thousand dollars. So even if a bank lost all its money for whatever reason, the money owners would always be promise five thousand dollars. Of course, they had to deposit five thousand dollars or more. Unlike these programs there were also less successful programs. The Civiliam Consevation Corp was a program that was uneccasary. The government didnt need to find handfuls of young men and give them jobs conseving natural resouces. There were already paid professionls doing that.Also, its is unfair that women couldn't get the benefit."Easing the Anxiety Economy" by Pat Regneir, points out the obvious that everything in the American life is getting pricer. From gas to college tuition, many people are living in debt with no solution. With today's economy, statistically, American's have the worst chance in moving up in the social class, than any other country. This means that is hard for a person living in poverty to move up to working class, a worker to move up to middle class and a middle class person to move up to the "Good Life".So the real question is what are we,the people who go to school, really aiming for? It's not like we are going anywere.
I dont think we need a New Deal, we just need Rosevelt's to have more power and adjust to the time we are living now,not in the 1920's. The New Deal can possibly keep our economy flowing with money, and maybe a foreign policy can be added to the New Deal.In order for the deal to work, we need money. We need investments and the rich to give the goverment more money by paying taxes. What we dont need is conservatives, who think that people should be responsible for themselves and not have government programs. They can go away. I can't belive I am saying this but , we do not need immigrants comming to America , at this time, working for cheap labor. Sadly, they are contributing to the perdicament.
Kanezeean is a fear and effective theory that can help America recover from the Great Depression, we are occuring now. If it worked than, then is should work now.
Ashley Cifu
block F
The New Deal was usefull during the Great Depression. It hasn't helped our government but it was a great help for everyone in the United States. In the Article Is it Time for a New Deal, "Americans are prosperous, but worried - about jobs, health care, retirement. Now some in Washington are asking if life really needs to be this risky". It explains that the rate we are going we are going to need more new deals. I do think that the economy is struggling, and maybe we need to make new laws to be determine and how much our country is spending, In this political cartoon " on the fire" it was making saying Roosevelt was trying to change our country by making national ecominc changes by increasing prices and making better banking systems. Any people were afraid of there jobs being shipped overseas and losing money, and today the presidential is trying to save many people's jobs without running our relationship with the forgin countries.I do think that Roosevelt's New Deal had played a hudge role in the adjustment of the American society of him and his idea he had ulitmatly had to sought out to make sure that many people faced with poverty and the works who are now jess, we had cared for them.
Loretta Au
Block F
My PowerPoint has been emailed to you last night.
:)
Cherricka
"Is it Time for a New New Deal"?
After reading “Why are we so nervous?” by Pat Regnier, it is clear America is falling rapidly, which we already knew, and we need a new deal. Pat Regnier explained what’s going on inside a middle class American’s home. There are cell phones, computers, MP3 players, and many other luxury items. On top of that there are bills and more bills to be paid. At first I felt Pat Regnier was stating, it is the American’s fault for a poor economy. If we didn’t spend money on the next best trend, we would most likely have money saved up for things more important, such as college. Within the article it was tough to read certain things because children my age are in danger of failing. “Moreover, as job competition rises for college grads, so does income volatility. A 2005 study by economist Henry Farber, also of Princeton, found that the average college-educated person who loses a job earns 14% less on the next job.” This is a scary thought. The way the economy is going right now shows no signs of changing. This means that when I become an adult my chances of losing my job may be high, and on top of that the next job I get will pay me less. These statistics were taken in 2005. That was three years ago. Imagine the percentages now. We need a new deal. We either need more money, or the prices need to go down.
This all began during the Great Depression, during 1929- 1936. This was a time when the stock market failed, leaving many without a job. Roosevelt, after the Great Depression, came up with The New Deal to help people who didn’t have, and restore America. Unfortunately, we do not have Roosevelt around anymore so who’s going to push his idea. No one! America needs another Roosevelt. Someone who is going to help make this country survive again.
In response to Khadijat, I agree that we need Roosevelt’s new Deal, in order for us to grow. However, we both know that’s not going to happen. If we can’t obtain Roosevelt’s ideas again, we need another idea or plan to get our country together.
Shaun Quinto
5/11/08
I did the creative assignment option. I sent it to you in an email.
Ciara Gonzalez
During the Great Depression, the New Deal by President Roosevelt was a great help. The New Deal created government programs that gave aid to citizens in need. As time passes, the cost of living increases. There is increasing competition for jobs. And job requirements are becoming more intricate. Also, more people are taking on jobs, and therefore the pay is becoming less and less. Although many people may not realize, or refuse to accept it, living is becoming more and more difficult. And as years pass, it continues to increase. America is in need of a new deal, similar to the one President Roosevelt created way back when.
Like Cherricka said, we're in need of a new deal in order to grow. We are in need of a plan of some type to stabilize the economy, and get America back on track.
The Great Depression was for sure one of the most downfalls in the United States economy. During the Great Depression a major part of this major event was the stock market crash beginning in 1929 and this is also known as Black Tuesday. The Great Depression had devastating effects in the United States and other industrialized countries around the world. As a result of the Great Depression in the Unites States caused a worldwide economic depression lasting from 1929 until the end of World War Two. The main reason for the Great Depression was the collapse in the United States stock market.
In addition to, a New Deal by Franklin D. Roosevelt was needed to get America out of that depression. With the whole depression dealing with money, the dollar lost its power which gave the economy a disappointment in the dollars value. The main cause is to solve the main conflict of The Great Depression and be able to give United States Citizens rights and benefits. Also the cause of a depression is Capitalism and to be able to stop Capitalism would end the Great Depression and the economy will then begin to rise and so will the value of the dollar would increase as well. As a result we need to destroy Capitalism but not in a destructive way and solve any Depressions that can happen in the future.
I made a poster for the creative assessment option.
Tiffany Cho
Block F
to Yasmeen Sweatte
F Block
5.13.08
Blog Post: After the Great Depression, which happened around 1929 to 1936 was Roosevelt's way of straightening up the government. Roosevelt than came up with the New Deal which were programs that paid programs money and aid the poor. One success was, the Federal Deposit Insurance Cop. This program guaranteed bank depositsof a minimum of $500. If any money was lost it was given right back to the owner. Another success for Roosevelt was, Social Security . This program was a program that gave money to people such as: retired people, unemployed citizens, orphans and, most importantly the disabled. Pat Regnier who wrote " Easing the Anxiety Economy" mentioned that the American economy is increasing drastically. So, it is not time for a New Deal (I don't believe the American Society would know how to deal with a New Deal)... Eventhough, it migt help to keep our economy wealthy it could possibly lead to more stress on the government.
Response: I agree with khadijat when she stated, "we need to let conservatives GO, because they think that people should be responsible for themselves and not have government programs". THAT'S NOT THE WAY TO HELP BUILD OUR ECONOMY...
Karmila Saulong
Block F
The new deal which was proposed by FDR was to recover from the Great Depression. The New Deal was aimed for the Great Depression but the economy now is different from the economy before. There may be a possibility that America may enter into another Little Depression. The value of the dollar is slowly decreasing although compared to the value of the dollar during the Depression, it is worth more. I don't believe we need another New Deal but the programs that Roosevelt started should be improved to accomodate the current issues not the issuses of the past. The article states that job security has declined for an educated person. Also, many of the jobs that were available for Americans are given to people in other countries because they work the same job but for less pay. There is a risk for every middle class and high class person because at any time a small mistake can make a person lose so much money. There is no longer a wide gap between these classes due to the economy. Also health insurance is a huge issue in America. The government provided health insurance during WWII. However, Americans today who lose their jobs will lose their insurance as well. These statistics show how the economy is declining and by hoping that it will take a sudden change for the better isn't the right choice. America doesn't need a completely new deal but trying to make adjustments to the programs or adding some programs to help the average citizen would benefit America's economy.
In response to Yasmeen, it is true that there has been helpful programs. Since the Great Depression the economy increased drastically but as for now the economy has not been stable. Without a better deal, the classes will either stay the same or become worse. The low, middle, and upper classes will not have an financial advantage if the economy doesn't keep up with the times.
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