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Economic Theories about the Great Depression - The Monetarist Theory

       The Great Depression, which began in 1929 and lasted until about 1939, significantly affected the United States and impacted the economy globally. While there still is no agreement on the exact causes of this phenomenon, government officials, economists, and historians have tried to analyze, define, and explain it in the almost one hundred years since. These experts named several related economic theories. For the purposes of this blog, the focus is on one of those economic theories – the monetarist theory – as a cause of the Great Depression and its ultimate demise.     So, what is the monetarist theory generally? Governments use monetary policies to affect economic performance. These policies may include adjusting interest rates, increasing the money supply, or changing bank reserve requirements to control the amount of money in the economy. Those who use the monetarist theory believe that monetary policies are the best way to manage the rate of the country’s money supply. T
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Economic Influencers between 1900 and 1929 - Milton S. Hershey

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             This blog focuses on the economic, financial, and business experience of Milton S. Hershey from 1900-1929. Hershey was an entrepreneur who changed the candy industry through the business that continues to bear his name – the Hershey Company. To take care of his workforce, he created a town that also still bears his name - Hershey, Pennsylvania. His vision for his legacy led to the creation of the Milton Hershey School. Originally a home and school for orphan boys, it continues to serve children in need.      Corporate financial records were not found for the entire period from 1900-1929, so detailed quantitative analysis was impossible. This drove the primary research method to be a historical analysis of Hershey’s actions and impacts from 1900-1929, with available statistical data added.      Primary and secondary sources focused on Milton Hershey and the Hershey Company. Most of the primary sources are from the Hershey Community Archives ( https://hersheyarchives.org/ ).
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The Evolution of Immigration to the United States between 1870 and 1900

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       This week’s discussion post concentrates on changes in immigration to the United States (U.S.) between 1865 and 1900, with a focus on two periods – 1870-1880 and 1890-1900. These periods reflect distinct differences in the immigrant flow's number and nations of origin. The U.S. experienced a significant increase in immigration between 1865 and 1900. The industrial revolution tied to the availability of natural resources and modern transportation created a high demand for a larger labor pool. Additionally, salaries in the U.S. were higher than in other parts of the world. These conditions attracted workers to the U.S. Cities became hubs of commerce and trade, which brought workers and their families including immigrants, into growing urban areas. [1]      Related to the selected research methodologies, this post includes two primary ones - comparative studies and case studies. For comparative studies, two different periods reveal insights into immigration policies and the e
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Local History – Historic Sites Along Harpers Ferry Road, Maryland

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                  When you hear Harpers Ferry, you probably think of the historic town of Harpers Ferry, WV. But across the Potomac River is a 10-mile stretch of road also named Harpers Ferry. Harpers Ferry Road in Washington County, MD, has played a significant role in US history, especially in the 1800s. The blog highlights some significant historical sites along its length - from where it starts in the south, connecting with Sandy Hook Road, to where the name changes to South Mechanic Street after crossing High Street in Sharpsburg. Map of Harpers Ferry Road, Washington County, Maryland  ( Image Courtesy of the Google Maps (https://www.google.com/maps/@39.3584532,-77.7389651,12z?entry=ttu))         The history of transportation is reflected in the area at the southernmost end of the road. There are two rivers - the Potomac and the Shenandoah. Native Americans moved through this area on foot and on the r
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