BUS 1301 Lecture Notes - Budget Resolution, Marshall Plan, Direct Tax
Document Summary
The government exerts 4 basic influences over the economy: Brief history of the economic role of the us government. Most of the growth over the past 7 decades was due to the depression and wwii (1929 1945) The great depression led to the us government stepping into do reform and regulate parts of the economy. Establishment of the federal reserve was also part of this regulation. Wwii led to the us economy being directed into war production led by the us government. After 1945, the role of government continued to expand due to the coming cold war and the marshall plan for rebuilding europe and parts of asia after the war. When ronald reagan was elected in 1980, there was a political swing in favor of shrinking the size of government"s role in the economy and politics. In 2008 2009, as the economy sank into recession, voters demanded the government do something. How the us federal government spends or budgets.
