Amy's grandparents experienced the Great Depression of the 1930s and share with her the challenges they endured at a time when the unemployment rate was 30 percent.Which approach do her grandparents believe to be the best for the economic development of a country?

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Quizplus · Accepted Answer

Amy's grandparents likely believe that government intervention in the market is the best approach for economic development, given their experience during the Great Depression. This could include interventions such as job creation programs, increased regulation of the financial sector, and targeted investments in infrastructure and social programs to stimulate economic growth and mitigate the impacts of economic downturns. Private market solutions and neoliberal policies, which prioritize free markets and deregulation, may be perceived as insufficient to address the systemic issues that contribute to economic inequality and instability. While trade deregulation may promote economic growth in some sectors, it can also exacerbate economic vulnerabilities and widen income gaps, which may be particularly concerning to individuals who experienced the devastation of the Great Depression.

Amy's Grandparents Experienced the Great Depression of the 1930s and Share