Philosophy and Economy Essay Example
Philosophy and Economy Essay Example

Philosophy and Economy Essay Example

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  • Pages: 2 (294 words)
  • Published: October 28, 2018
  • Type: Essay
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There has been a gradual transformation in the relationship between the United States government and its people since the conclusion of the civil war. This shift is evident through increased government intervention in the lives of American citizens, as shown by several examples:

Following the civil war, a shortage of economic infrastructure emerged in the post-war era. This required significant government intervention to prevent both political and economic crises. Providing direct financial assistance to businesses was vital in averting such a crisis. Reuniting the entire nation became imperative due to its division along social, political, and economic lines.

In the Progressive Era, more than 200 Americans sadly died in protests at the Triangle Shirtwaist Company, revealing the severe working conditions. This event compelled the United States government to step in and guarantee improved treatment for workers, especially impoverished immigrants and ch

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ild laborers.

The success of a country's economy is determined by the interplay between market forces and government intervention. Generally, a prosperous economy relies on minimal government involvement and allows market forces to propel it forward. However, if these market forces falter and weaken the economy, government intervention becomes crucial in preventing further decline. An instance highlighting this necessity took place during the economic meltdown of 1930 when numerous businesses shuttered and banks collapsed. This event holds the record for being the longest economic meltdown ever recorded and prompted governmental actions to stabilize the economy.

Throughout the 20th century in America, color racism persisted due to the dominance of white and black populations. However, it was during the mid-20th century that oppressed blacks started actively fighting for their rights. They endured mistreatment in social and economic spheres, leading the

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government to step in and promote equality. This intervention ultimately ignited the civil rights era.

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