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On October 29, 1929, the crash of the U.S. stock market reflected a trend of a worldwide economic crisis. That day was known as "Black Thursday". From 1929-1933, unemployment in the U.S. soared from 3 percent of the workforce to 25 percent, while manufacturing output collapsed by one-third. Upon accepting Democratic nomination for president on July 2, 1932, Roosevelt promised "a new deal for the American people," a phrase that has endured as a label for his administration and its many domestic changes. Meanwhile, other governments worldwide exacerbated economic recovery by continuing protectionist policies such as high tariffs, import quotas, and barter agreements. This was the very cause of the collapse of world trade in the 1920s. Britain adopted far-reaching measures in the development of a planned national economy. In Nazi Germany economic recovery was pursued through various government spending programs such as defense spending and public works programs. In Mussolini's Italy......

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Approximate Word Count: 512
Approximate Pages: 3 (250 words per double-spaced page)

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