Write a short paragraph (100 words + 10) answering each of the following essays related to the book, “Rethinking the Great Depression,” by Gene Smiley. Do your own work on this! Provide a word count for each essay. Special deal – Do you really like one of the essays you wrote? Circle it (one for each day) and I will score it for some extra credit. What’s the catch? The e.c. will be between -1 pt. and +3 pts. (not very good; just passable, some good insights, pretty good overall and very good overall). If you’d rather not take the risk, don’t circle any.
1. In the 1920s, why was it practically impossible for the world to go back to their pre-WWI gold standard?
2. Some argue that Federal Reserve policy following the stock market crash of 1929 was erratic and contributed to the length and severity of the Great Depression. Detail and explain this point of view.
3. From 1931 to 1932, banks in the United States found their circumstances getting increasingly more precarious. Explain how and why.
4. What signs indicated that the economy was on the road to recovery in 1933? What interrupted this recovery?
5. According to Smiley, what accounts for the slow economic recovery during FDR’s first term?
6. What role did monetary policy play in the depression of 1937-1938? What concerns motivated this policy on the part of the Fed?