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Keys to the Keynes

               W hen one examines history from the current day, a much clearer picture emerges. If hindsight is 20/20, then examining the past from the present can provide an even clearer picture. The Great Depression struck every American home. Over the years, experts have provided insights into the causes, impacts, and resolutions of that event. This post explores the causes, impacts, and resolutions of the Great Depression through the lens of John Maynard Keynes’ theory of aggregate demand.   In his 1936 book, The General Theory of Employment, Interest, and Money , Keynes explains his theory of aggregate demand. The economic theory of Keynes, often referred to as Keynesian economics, offers an interesting approach to understanding economic activity. Keynesian economics argues that the total spending in an economy is the primary driver of economic activity and employment. If the aggregate demand is insufficient, economic downturns an...

Marjorie Makes Many Marks on the Market

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     https://lccn.loc.gov/99472879 Born in 1887, Marjorie Merriweather Post emerged as a powerful economic and business figure in the early 20th century. Her presence in the financial and business world during this time reflect a transformative era in American economic history. This time was marked by industrial growth, societal change, and shifting gender roles. By analyzing her life through primary and secondary sources, one can see how she was an inspirational force that left an enduring legacy. Early Life and Inheritance Marjorie owed much of her business talents to her father, C.W. Post, He was an influential figure in the food industry, best known for founding the Postum Cereal Company in 1895. When raising his daughter, Post realized that his daughter could not vote, but she could learn about business. He dedicated the time necessary to pass down his business knowledge to her. [1] With her father’s suicide in 1914, Marjorie inherited a majority stake in the f...

Railroad Revelation

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When examining the economic growth in the postbellum American economy, one discovers a plethora of interesting data sets to compare. For this post, the focus falls upon exploring the differences found in the developing railroad systems in the North and South from the 1870s to the 1890s. During these years, America attempts to place the aftermath of the Civil War in its past, while also finding itself enveloped in a new, rapidly developing world. In his book, American Railroads, John Stover explains in detail what went right and wrong with expanding the railroad system after the Civil War. He reports the lines stretched from 35,000 miles in 1865 to 53,000 miles in 1870; 93,000 miles in 1880; 164,000 miles in 1890. [1] Stover’s book explains the North-South divergence on rail expansion, the rampant corruption and confusion, and how the railroads made America a dominant force in the global economy. Even though the Civil War impacted the entire nation, the North and South proceed wit...

Brenda Lee Rocks Our Family Tree

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Born on December 11, 1944, in Atlanta, Georgia, Brenda Mae Tarpley is better known to the world as Brenda Lee. While Brenda stands under five feet tall, one should not be fooled by her height. Her voice and personality are huge. Her loud and powerful signing voice earned her the name "Little Dynamite" when she was just a little girl looking for places where she could sing. Many people know her from her hits like, "I'm Sorry" and "Rocking Around the Christmas Tree," but we know her as Cousin Brenda.  My mother, Kathy (Maxwell) Collins is the daughter of Cecil and Mathie Lee (Reed) Maxwell. Sadly, Mathie died from cancer when my mother was only four years old. Years later Cecil married Mamie Shacklett. Mamie was also a widow with two children of her own. Cecil and Kathy moved to be with Mamie and her two children. Together Cecil and Mamie raised their three children in the Woodbine area of Nashville.  Mamie's family was well-known in Nashville. Her b...

Margaret's Mighty Morals

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  Born in Fredericksburg, Virginia in 1773, Margaret Prior grew up with the new nation of America. She was only sixteen when she began her first marriage to William Allen. Upon his death at sea, she and her only surviving son relocated to New York City. Years later Margaret married William Prior, a member of the Society of Friends, who was known for his generous spirit.  Margaret's morals matched those of her husband. Perhaps because Margaret lost many children herself, she found herself on a mission to care for as many of New York's children as possible. However, Margaret felt that one mission was not enough. Her deep faith compelled her to extend her charity to the poor as well. She found herself rising everyday to serve as many people as possible. Margaret not only assisted the children and the poor, she found herself assisting in developing a number of benevolent societies so she could reach as many souls as possible. In addition to these works, Margaret also created a sou...