Project description
Just write a reader response for this book. not need any extra sources.
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Added on 10.10.2016 15:18
This written assignment requires an essay answer. Please review the \\\”Instructions – Essay Assignments\\\” document found in the Important Class Information module before answering the question.
I encourage everyone to complete the written assignment in a word processing document, like MS Word, and then cut and paste your answer into the submission text box.
Essay Topic: Analyze one of the causes of the 1929 crash and Great Depression mentioned by Payne in Crash! (Hint: Think of the big picture. One could discuss Ponzi and ponzi like schemes or changing values or advertising or buying on credit (including buying on margin) or entertainment and so on.) Keep the following information in mind when writing your essay:
Review the \\\”Instructions – Essay Assignments\\\” document in the ICI module. This document includes important information like the word length requirement, formatting instructions, citation instructions and so much more that no one will be able to stop reading this fun web page.
Include specific cited information from at least three chapters (this includes the Prologue and Epilogue) of Crash! in your essay.
Include specific cited information from Out of Many Chapter 23 in your essay.
Because images can be used to shape public opinion, one paragraph in your essay should analyze a primary source photograph or print advertisement related to the focus of your essay. For example, on page nineteen in Crash! there is a picture of a World War I buy bonds ad, on page forty-one there is an automobile ad, and on page 110 there is a photograph of National Recovery Administration (NRA) supporters. One of the essay paragraphs should be devoted to analyzing one image. Using images found in Out of Many or Crash! will cost you some points on the essay; find your own image to analyze.
To find an image, use your favorite web browser to search for \\\”images of 1920s advertisement\\\” or \\\”World War I war bond images\\\” or \\\”images of the 1929 crash\\\” or \\\”image of 1930s bank run\\\” or \\\”photo FDR and Hoover.\\\” I will stop with the examples and go out on a limb and think that you know how to use a web search engine. Also, make sure these are primary source images.
Do not include the image in your essay, but only describe it in your own words.
When citing the image source, make sure to include a link to the image, so I can view it.
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Added on 10.10.2016 15:23
Textbooks are an important part of a United States History survey class. They offer an overview of major events, but to dig a bit deeper into a particular topic, it is necessary to go beyond the textbook. This module will dig a bit deeper into early-twentieth century United States history.
Crash! How the Economic Boom and Bust of the 1920s Worked, by Phillip G. Payne, examines people and the ideas of the Roaring Twenties that led to the stock market crash of 1929. The crash was not simply caused by stock price increases in 1928 and 1929, but the roots of the crash go back to at least 1907. The stock market crash and bank run of that year (called the Bankers\\\” Panic of 1907 and the Panic of 1907), highlighted the weakness of the federal government compared to private corporations. The very real need to increase the influence of the federal government to protect American citizens against the power of the banks and other large corporation led to the creation of the Federal Reserve Board. It is often said that armies prepare to fight the last war and so are unprepared for the future, the economic reforms of the early-1910s were too weak to meet the future crises of the late-1920s.
Crash!. however, is more than just economic policy. The rise in the stock market and consumer debt that led first to the 1929 crash and then the Great Depression could not have occurred unless there was a major value shift among the American people in the 1920s with roots in the 1910s. Payne discusses this value shift, and the reasons for it, throughout much of the book. Of course, the crash did not cause the Great Depression. The Depression was cause by a number of factors including issues mentioned above along with the feeble response to the crash and bank runs by the Republican president, Herbert Hoover.
Payne concludes his book with a short comparison between the economic bubble leading to the 1929 crash and the housing bubble of the early-twenty-first century that led to the 2008 crash.
One final thought, throughout Crash! Payne mentions Charles Mackay\\\”s 1841 book Extraordinary Popular Delusions and the Madness of Crowds. Please pay attention to the first time this book is mentioned on pages three and four of Crash! These pages include a description of the book that is important to understanding Payne\\\”s analysis of the 1920s.
Websites
If you are interested in reading more about this topic, these websites may be helpful.
History of the Federal Reserve Board – This is a short timeline of the history of central banking in the United States from the War of Independence to the present. Take two minutes to review this helpful timeline.
The 1907 Crisis in Historical Perspective – This website was created by Harvard students and is hosted on the university\\\”s Center for History and Economics website. The website has a timeline, short biographies of important people and a few cartoon images. The website also includes several detailed essays on the topic.
The Panic of 1907 – On this web page, there is a short, but detailed, description of this economic crisis.
For background on the presidents of the period, see these biographies found on the White House\\\”s website:
Warren G. Harding
Calvin Coolidge
Herbert Hoover
Franklin D. Roosevelt
Fireside Chats – All of FDR\\\”s fire side chats are online at the Franklin D. Roosevelt Presidential Library and Museum. I strongly encourage you to listen to his fourteen minute chat on the bank crisis.
Transcripts of all Fireside Chats
Recorded Speeches and Utterances of Franklin D. Roosevelt, 1920-1945
Audio of FDR\\\”s chat on the Bank Crisis (it is the thirteenth audio file down the list and is titled \\\”Washington, DC – Fireside Chat on banking (13 minutes 42 sec)\\\”
Why Are Republicans so Obsessed With the Gold Standard? – \\\”GOP candidates love it for what it represents, not because it\\\”s good policy.\\\” If you want to learn more about the gold standard and why it is back in the news, read this article from The Atlantic.
Extraordinary Popular Delusions and the Madness of Crowds – This book, mentioned several times in Payne\\\”s Crash! is online and may be read for free at the Project Gutenberg website.
