A Lecture At The George Washington University

The first president of the United States, George Washington, was born in Virginia, on February 22, 1732.he didn’t have much formal training as a youngster, but he learned to survey land at sixteen. Later on he became the county surveyor.

In Westmoreland County, Virginia a baby boy was being born, a boy who’s effect on the world will outlive not only himself, but also the generations to come. On February 22, 1732, George Washington was born in a small home in Virginia.

“Liberty, when it begins to take root, is a plant of rapid growth” (Washington). This shows how George Washington was dedicated to show how everyone should have freedom and do what they want. Alone that is hard because he is just one person who is going to make a big impact. He always went out of his was to show others how they should fight for their freedom. George Washington even became a part of the “unwritten Constitution”, part of it was “The Cabinet”, when he choose people to appoint him on the decisions to make. Through his knowledge about leadership, George Washington has impacted others by teaching them about presidency.

This article is about the circumstances that led to the collapse of the economy in 1929. It relates to my research proposal because I am evaluating historic events that led to the financial crisis of 1929. The article discusses how deflation played an important role in expanding the depression, and how the Gold Standard, a monetary system in which a country’s government allows its currency unit to be freely converted into fixed amounts of gold and vice versa, was an extremely bad decision because it caused the dollar to lose its value. This source was informal because it discusses prehistoric events that led to the

This is my character narrative for George Washington. In this essay I will be covering his childhood, his family, what he is known for and his most notable achievements. I will also be talking about the modern day version of George Washington. I will picking someone who has the same personality, and maybe someone who has similar achievements, and lifestyle.

Eight decades has elapsed since the outbreak of the Great Depression, but the continuing mystery of its cause keep provoking academic debates among scholars from various fields. Eichengreen and Temin joint the debates by linking the gold-standard ideology with the cause of the Great Depression. They content that because of this ideology monetary and fiscal authorities implemented deflationary policies when the hindsight shows clearly that expansionary policies were needed. And these contractionary policies consequently pushed the stumbling world economy into the Great Depression. Eichengreen and Temin put heavy weight on analyzing why the prewar gold standard could be a force for international financial stability while interwar gold

George Washington is seen, to the general public, as a larger than life figure. As a society, Americans have a tendency to view him as a legend, even to the point of creating stories that tell us false stories about his childhood and adulthood. Myths are taught to us from a young age about how the very first president had wooden teeth, and that he was somehow so pure that he could not tell a lie, and that he had such magnificent upper body strength that he threw a silver dollar across the Pontiac. George Washington was both an experienced military leader and a strong political leader, but in which field did he have the most impact?

In the time leading up to and throughout the Great Depression the Federal Reserve struggled to enact monetary policy to ease the turmoil in the economy. Due to a lack of technology, there was a delay between events in the economy and when the Fed received information on the event (Richardson). Additionally, the Fed was decentralized resulting in contradicting policies between districts. Disagreements amongst the governors on which institutions the fed should protect during bank runs caused hundreds of banks to fail (Richardson). Furthermore, the United State was one of the world’s largest economies on the gold standard, and thus the fed’s monetary policies were forced upon other countries using this standard leading to a global economic crisis (Bernanke).

The largest controversy regarding monetary policy in 2009 was probably the rate cut in June, and to a lesser extent in May. By then, the economy had begun showing signs of improvement, the government’s expansionary fiscal policy was just starting to have an impact, and the financial markets had improved rapidly on the back of lower interest rates, government guarantees and ample liquidity. Along with the strong signs that the economy was improving, there were growing concerns that the extraordinarily low interest rates could initiate a housing market bubble. House prices started to increase in January 2009, and have continued to climb gradually back to their pre-crisis levels. Some leading indicators and the strong recovery in the financial and asset markets suggested an earlier recovery than what Norges Bank emphasized at that time.

The single most important factor that led to the great depression was government misunderstanding of economics and the affects of economic implementation. Our economy had experienced many panics and recessions up to 1929 and recovered without the level of intervention of the 1930’s. Governmental tools such as monetary policy, fiscal policy, taxation, and tariffs were used with the reverse of the intended affects and prolonged the depression. The Federal Reserve’s restrictive policies contributed to the depth and length of the depression after the second wave of bank failures in 1931 and the Fed’s 936-1937 policies contributed to the 1938 recession (Hughes & Cain 2011, p. 488). The taxation and tariff policies stifled economic growth and consumption.

And James D. Hamilton, a professor of economics at the University of California, San Diego, also supported that “Recovery from the Great Depression typically began only after the country abandoned the gold standard, which led to wage and price deflation.” (Hamilton,

For more than seven years, the nation’s extraordinary monetary and fiscal policies are proving ineffective towards achieving lower levels of inflation and growth in the economy. Also, the producer-price index, consumer-price index, and GDP have all failed to increase over two percent during this period. As a result, recent speculation has shown that the Federal Government is leaning towards applying negative interest rates. Theoretically, negative interest rates should lower borrowing costs for businesses and households, as a result stimulating demand for loans. Although, lowering interest rates below zero can increase consumer spending and investment, in the long run the economy will decline. Long term negative interest rates result in deflation,

The moment that I heard about the Washington Seminar, I knew that it was something that I needed to do. Alexis de Tocqueville once stated that America is great because she is good, and if she ceases to be good, she will cease to be great. Being from another country, I have always found it fascinating how much power and influence that the people of America possess. That is one of the great reasons that America has a special place in my heart, is because I have seen it from the outside looking in and have marveled at its magnificence. What I have seen from my experience with the United States is that the secret to her success is the amount of trust that its system places in its people.

In 2007 the world witnessed an economic downturn so devastating to the global economy that it has been claimed to rival the Great Depression. The US stock market plummeted, the Dow Jones Industrial Average (DJIA) dipping below over 50% after its peak in October 2007, and reached a low of 6600 points by March 2009 . In England, Northern Rock, one of their largest banks, suffered a bank run. This was the first time in over 100 years a bank in England had suffered from a run, and because Lloyd’s bank denied them a buyout they had to be nationalized. If the world’s economy was shaken this much, a large number of significant mistakes must have occurred. The most significant of these mistakes was the loose monetary policy used by central banks. An imbalance of international money distribution and a housing bubble of the brink of bursting were the other heavy problems that eventually dragged the economy down.

China’s decision to allow the yuan to weaken has potentially opened a whole new set of economic and financial permutations that would have been seemingly unthinkable barely a week ago. The most important is whether the potential threat of imported deflation from China will force the Fed to delay raising its policy rate. If the Federal Open Market Committee (FOMC) did decide to postpone increasing the federal funds target, then risky assets will, no doubt, breathe a huge sigh of relief. The Asian financial crisis of 1997-8 produced imported deflation into the US which depressed inflationary expectations, but boosted the P/E multiple for the S&P500. The current currency war and the devaluations of