Methods of overcoming the Great Depression in the USA: the New Deal program

• Název práce v češtině: Methods of overcoming the Great Depression in the USA: the New Deal program
• Název v anglickém jazyce: Methods of overcoming the Great Depression in the USA: the New Deal program
• Klíčová slova: New Deal, Great Depression; Economic Crisis
• Klíčová slova anglicky: New Deal, Great Depression, Economic Crisis
• Akademický rok vypsání: 2023/2024
• Typ práce: bakalářská práce
• Jazyk práce: angličtina
• Ústav: Institut ekonomických studií (23-IES)
• Vedoucí / školitel: prof. PhDr. Ing. Antonie Doležalová, Ph.D.
• Řešitel: Alena Tsarkova - zadáno vedoucím/školitelem
• Datum přihlášení: 24.06.2024
• Datum zadání: 24.06.2024

Zásady pro vypracování

Research question and motivation
This topic seemed interesting to me to study, since economic crises in modern society are coming more and more often -
this is natural. Every time, economists ask about the causes of the crisis and possible ways out of it. The Great Depression
is the most famous global economic crisis, with which all subsequent ones are traditionally compared, this experience of
the past is becoming increasingly relevant now - in light of the socio-economic consequences of the pandemic, the
unstable political situation faced by the population of many countries. The Great Depression needs to be studied, because
during its development, the American government and society conducted a series of difficult experiments, but preserved
the rule of law with protected privacy, freedom of entrepreneurship and optimism. They gave the world the first large-
scale and ultimately successful transformation of the market economy from unorganized capitalism to a complex
institutional economy with high efficiency. The era is changing, the complexity of socio-economic problems is growing,
but the lessons of the Great Depression and the Roosevelt reforms remain an important source of finding approaches,
comprehensive solutions to current problems and long-term problems.
Contribution
According to Leonid Grigoriev, a lecturer at the Higher School of Economics in Moscow, there are at least two fake
theories about the reforms of US President Franklin Delano Roosevelt. According to one of these theories, Roosevelt
allegedly built socialism, according to the second - state-monopolistic capitalism. The opinion of scientists about
Roosevelt's policy is ambiguous, and disputes about this are still ongoing.
In difficult times, there is always the danger of a dictator coming to power who will offer simple answers to difficult
questions. However, this did not happen, the US president found a way out of the economic crisis without extreme
measures. In my work, I will try to find answers to ambiguous questions about how strong the state's intervention in the
market economy was in those times, and how it still remained fundamentally market-oriented in those conditions.
Methodology
To achieve my goal, I will need to study one of the most important aspects of Roosevelt's policy - the New Deal program,
how to implement it, the short- and long-term consequences of these reforms, as well as the reaction of society to them.
In order for the conclusions to be the most accurate and reflect the essence, I will turn to the statistics of various
companies in the United States, how they were influenced by the Roosevelt reforms, as well as to the culture of that time,
which reflects the mood of people through posters, photographs, real stories of people. I will compare the opinions of
various scientists on this issue and try to draw my own objective conclusions about how effective the president's reforms
were, how strong the state's intervention in the economy was and which of the methods of fighting the crisis we can use in
the modern world.

Seznam odborné literatury

Murray N. Rothbard. 1963. „America’s Great Depression“,
John Dos Passos. 1936. „The Big Money“,
Nikolay Yakovlev. 1981. „Franklin Roosevelt“,
Angus Burgin. 2012. „The Great Persuasion. Reinventing Free Markets since the Depression“,
Ray Dalio. 2021. „The Changing world order“.

Předběžná náplň práce

Outline
Introduction
1. Why it is important to study the Great Depression of the USA?
2. Existing research and opinions of scientists on this topic.
3. What contribution can I make.
4. Organization of the work.
Theoretical part
1. A brief history of the period under study.
2. The study of the economic cycle and its stages.
3. Roosevelt’s role and his methods of solving the crises.
4. The culture and way of life of the USA people at that time (why it is important to study that).
5. The study of modern anti-crises measures.
Analytical part
1. Analysis of changes in the level of volatility of shares of the world's largest corporations.
2. Building a crisis model.
3. The impact of the Great Depression on other countries of the world.
Project part
1. Identification of the short- and long-term effects of the Great Depression.
2. Comparison of the methods and economic indicators. (Indicators of large, medium and small businesses,
unemployment rate, income of the population …).
3. Identification of the most optimal methods of dealing with crises.
4. My interpretation of the results.
Conclusion
1. A more extensive interpretation of the results.
2. Comparing my results with the opinion of scientists.
3. Assessment of the contribution.

Předběžná náplň práce v anglickém jazyce

Outline
Introduction
1. Why it is important to study the Great Depression of the USA?
2. Existing research and opinions of scientists on this topic.
3. What contribution can I make.
4. Organization of the work.
Theoretical part
1. A brief history of the period under study.
2. The study of the economic cycle and its stages.
3. Roosevelt’s role and his methods of solving the crises.
4. The culture and way of life of the USA people at that time (why it is important to study that).
5. The study of modern anti-crises measures.
Analytical part
1. Analysis of changes in the level of volatility of shares of the world's largest corporations.
2. Building a crises model.
3. The impact of the Great Depression on other countries of the world.
Project part
1. Identification of the short- and long-term effects of the Great Depression.
2. Comparison of the methods and economic indicators. (Indicators of large, medium and small businesses,
unemployment rate, income of the population …).
3. Identification of the most optimal methods of dealing with crises.
4. My interpretation of the results.
Conclusion
1. A more extensive interpretation of the results.
2. Comparing my results with the opinion of scientists.
3. Assessment of the contribution.