Category: a 60 year expansion of the middle class
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i.e. set a new vision. ” Mobilisation people towards that vision & leadership by example. ” Addressing systemic problems & launching lasting reforms. ” Being open to experiment & designing flexible agencies to deal with new problems. The US Banking Act of 1933 joined together two long-standing Congressional projects: (1) a federal system of bank deposit insurance (2) the prohibition of the combination of commercial and investment banking and other restrictions on ‘speculative’ bank activities. It addressed the systemic problem of banking corruption and speculation with commercial deposits that directly contributed to the Wall Street Crash of 1929 and ensuing Great Depression. It is commonly cited as a central cause for the largest period of sustained economic growth in US history from 1933 to the 1980s
i.e. set a new vision. ” Mobilisation people towards that vision & leadership by example. ” Addressing systemic problems & launching lasting reforms. ” Being open to experiment & designing flexible agencies to deal with new problems. The US Banking Act of 1933 joined together two long-standing Congressional projects: (1) a federal system of bank…