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lynk2510



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PostSubject: , he advocated that Americ   Fri Jul 08, 2011 5:52 am

mended by some economists, most notably by John Maynard Keynes of Britain. The GNP was 34% higher in 1936 than in 1932 and 58% higher in 1940 on the eve of war. That is, the economy grew 58% from 1932 to 1940 in 8 years of peacetime, and then grew 56% from 1940 to 1945 in 5 years of wartime. However, the economic recovery did not absorb all the unemployment Roosevelt inherited. Unemployment fell dramatically in Roosevelt's first term, from 25% when he took office to 14.3% in 1937. Afterward, however, it increased to 19.0% in 1938 ('a depression within a depression') and 17.2% in 1939, and stayed high until it almost vanished during World War II when the previously unemployed were conscripted, taking them out of the potential labor supply number.[83]
During the war, the economy operated under such different conditions that comparison with peacetime is impossible. However, Roosevelt saw the New Deal policies as central to his legacy, and in his 1944 State of the Union Address, he advocated that Americ

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