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United States Decade Project
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8 Million Jobs Created Following Great Depression
The Works Program Administration (WPA) started work on this day in 1935. It was credited for creating 8.5 million public jobs for the ailing United States Economy. -
Social Security Act
President Franklin D. Roosevelt issued this as part of the Second New Deal. President's Committee on Economic Security issued it as an attempt to regulate dangers on modern American life. -
General Theory of Employment, Interest, and Money
John Maynard Keynes argued that demand not supply was the key factor in governing economic activity. Rise of Keynesian economic theory. -
Recession of 1937
Lasting around a year, this share price fall was triggered by an economic recession within the Great Depression and doubts about the effectiveness of Franklin D. Roosevelt's New Deal policy. -
Unions Officially Allowed
Culmination of a successful strike led by plant workers. Legitimized labor unions in the world of corporate America. -
Government Spending for WWII
Caused an economic boom that officially ended the Great Depression. Expanded industries brought the US close to full employment. -
Economic Leaders Meet in Bretton Woods
Meeting in Bretton Woods, New Hampshire for fear of another oncoming Great Depression. Establish a new world economic order and discuss global monetary policy. Hopeful to inspire peace among nations. -
Inflation Skyrocket
The whole year of 1947 experienced a jump in inflation rates from 1946 by 15.9 -
Korean War and the Fed
Created prospects of additional government deficits and the issuance of new government debt. The Treasury pressured the Fed into keeping a fixed low interest rate on government bonds. Independence restored to the Fed through the Fed-Treasury Accord. -
Unemployment Assisstant Act
Congress passed the act, establishing a needs test and requiring the federal government to share 50 percent of the costs.
