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Standard Oil (Refinery No. 1 in Cleveland, Ohio, pictured) was a major company broken up under United States antitrust laws.. The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history.
Rethinking the Great Depression (2002) ISBN 1-56663-472-5 economist blames Federal Reserve and gold standard; Smith, Jason Scott. Building New Deal Liberalism: The Political Economy of Public Works, 1933–1956 (2005). online; Sternsher, Bernard, ed., Hitting Home: The Great Depression in Town and Country (1970), readings by experts on local ...
In response to the Great Depression, the Subsistence Homesteads Division was created by the federal government in 1933 with the aim to improve the living conditions of individuals moving away from overcrowded urban centers while also giving them the opportunity to experience small-scale farming and home ownership. [6]
The depression was marked by a strained economy in which patents were perceived as a method of promoting monopolies. This negative attitude towards patents led to the inception of the Sherman Antitrust Act. During the depression, many opposed patents, and this is depicted in the tendency of courts to invalidate patents.
The legislation was enacted in June 1933 during the Great Depression as part of President Franklin D. Roosevelt's New Deal legislative program. Section 7(a) of the bill, which protected collective bargaining rights for unions, proved contentious (especially in the Senate). Congress eventually enacted the legislation and President Roosevelt ...
Representative John E. Rankin [4] and Senator George William Norris [5] were supporters of the Rural Electrification Act, which was signed into law by Roosevelt on May 20, 1936. Speaker of the House Sam Rayburn was a major proponent of the REA, which he helped pass in 1936 as Chairman of the House Interstate and Foreign Commerce Committee .
The term "The Great Depression" is most frequently attributed to British economist Lionel Robbins, whose 1934 book The Great Depression is credited with formalizing the phrase, [230] though Hoover is widely credited with popularizing the term, [230] [231] informally referring to the downturn as a depression, with such uses as "Economic ...
Ohio was hit very hard by the Great Depression in the 1930s. In 1932, unemployment for the state reached 37.3%. By 1933, 40% of factory workers and 67% of construction labor were unemployed. [119] The voters supported Franklin D. Roosevelt in 1932, 1936, and 1940, with large margins in the cities.