Mason's Blog

           Which Economic Theory Best Explains the Onset, Prolongation, and Demise of the Great Depression?           The research parameters are to discuss which economic theory best addresses the onset,  prolongation and demise of the Great Depression. The Keynesian economic theory of aggregate demand  (total spending on goods and services in an economy at a given price level, comprising consumption,  investment, government spending, and net exports), coupled with underconsumption, provides a  framework that best explains both the onset through a collapse in private demand and the demise of the  Great Depression was a result of massive government-driven expansion, primarily driven by wartime  production during World War II.             The research methodology was to find the one economic theory that best satisfied the primary cause of...

  Garrett Augustus Morgan Garrett Augustus Morgan, Sr. was born to former slaves in Paris, Kentucky, on March 4, 1877. If you have never heard of Garrett Morgan, that is understandable, but not a day goes by that you do not reap the rewards from one of his inventions. Morgan began life working with his brothers and sisters on the family farm in Kentucky. His education, like that of many young African Americans at the time, ended after elementary school. He moved to Cincinnati, Ohio, and found work as a handyman. He earned enough to hire a tutor to continue his education. In 1895, he moved to Cleveland, Ohio, where he worked as a sewing machine repairman. It was there that he developed his passion to make things work better. In 1907, at the age of thirty, he opened his own sewing machine and repair shop. By 1909, his company employed thirty-four employees, expanded into the tailoring business, making coats, dresses, and suits, all sewn with equipment he had made himself. His exper...