The Growth of Government Intervention in the Economy

The Growth of Government Intervention in the Economy The founding fathers of the United States wanted to create a nation where the federal government was limited in its authority to dictate ones inalienable rights, and many argued this extended to the right to the pursuit of happiness in the context of starting ones own business. Initially, the government did not meddle in the affairs of businesses, but the consolidation of the industry after the Industrial Revolution resulted in a monopoly of markets by increasingly powerful corporations, so the government stepped in to protect  small businesses  and consumers from corporate greed. Since then, and especially in the wake of the Great Depression and President Franklin D. Roosevelts New Deal with businesses, the federal government has enacted more than 100 regulations to control the economy and prevent monopolization of certain markets. Early Involvement of Government Near the end of  the 20th century, the rapid consolidation of power in the economy to a few select corporations spurred the United States government to step in and begin regulating the free trade market, starting with the Sherman Antitrust Act of 1890, which restored competition and free enterprise by breaking up corporate control of niche markets. Congress again passed laws in 1906 to regulate the production of food and drugs, ensuring that the products were correctly labeled and all meat tested before being sold. In 1913, the  Federal Reserve  was created to regulate the nations supply of money and establish a central bank that monitored and controlled certain banking activities. However, according to the United States Department of State, the largest changes in the governments role occurred during the New Deal, President Franklin D. Roosevelts response to the Great Depression. In this Roosevelt and Congress passed multiple new laws that allowed the government to intervene in the economy to prevent another such catastrophe. These regulations set rules for wages and hours, gave benefits to unemployed and retired workers, established subsidies for rural farmers and local manufacturers, insured bank deposits, and created a massive development authority. Current Government Involvement in the Economy Throughout the 20th century, Congress continued to enact these regulations meant to protect the working class from corporate interests. These policies eventually evolved to include protections against discrimination based on age, race, sex, sexuality or religious beliefs and against false advertisements meant to purposefully mislead consumers. Over 100 federal regulatory agencies have been created in the United States by the early 1990s, covering fields from trade to employment opportunity. In theory, these agencies are meant to be shielded from partisan politics and the president, meant purely to protect the federal economy from collapse through its control of individual markets. According to the U.S. Department of State, by law members of the boards of these agencies must include commissioners from both political parties who serve for fixed terms, usually of five to seven years; each agency has a staff, often more than 1,000 persons; Congress appropriates funds to the agencies and oversees their operations.

Ten Facts About the U.S. State of Oklahoma

Ten Facts About the U.S. State of Oklahoma Population: 3,751,351 (2010 estimate)Capital: Oklahoma CityBordering States: Kansas, Colorado, New Mexico, Texas, Arkansas and MissouriLand Area: 69,898 square miles (181,195 sq km)Highest Point: Black Mesa at 4,973 feet (1,515 m)Lowest Point: Little River at 289 feet (88 m)Oklahoma is a state located in the central southern part of the United States to the north of Texas and the south of Kansas. Its capital and largest city is Oklahoma City and it has a total population of 3,751,351 (2010 estimate). Oklahoma is known for its prairie landscape, severe weather and for its fast growing economy.The following is a list of ten geographic facts about Oklahoma: The first permanent inhabitants of Oklahoma are believed to have first settled the region between 850 and 1450 C.E. In the early to mid-1500s Spanish explorers traveled throughout the area but it was claimed by French explorers in the 1700s. French control of Oklahoma lasted until 1803 when the United States purchased all of Frances territory west of the Mississippi River with the Louisiana Purchase.Once Oklahoma was purchased by the United States, more settlers began to enter the region and during the 19th century, the Native Americans who had been living in the region were forcibly moved away from their ancestral lands in the region to the lands surrounding Oklahoma. This land became known as Indian Territory and for several decades after its creation, it was fought over by both the Native Americans who had been forced to move there and new settlers to the region.By the end of the 19th century, there were attempts to make Oklahoma Territory a state. In 1905 the Sequoyah Statehood C onvention took place to create an all Native American state. These conventions failed but they began the movement for the Oklahoma Statehood Convention which eventually led to the territory becoming the 46th state to enter the Union on November 16, 1907. After becoming a state, Oklahoma quickly began to grow as oil was discovered throughout several regions of the state. Tulsa was known as the Oil Capital of the World at this time and most of the states early economic success was based on oil but agriculture was also prevalent. In the 20th century, Oklahoma continued to grow but it also became a center of racial violence with the Tulsa Race Riot in 1921. By the 1930s Oklahomas economy began to decline and it suffered further due to the Dust Bowl.Oklahomas began to recover from the Dust Bowl by the 1950s and by the 1960s. Massive water conservation and flood control plan was put into place to prevent another such disaster. Today the state has a diversified economy that is based on aviation, energy, the manufacture of transportation equipment, food processing, electronics and telecommunications. Agriculture also still plays a role in Oklahomas economy and it is fifth in U.S. cattle and wheat production.Oklahoma is in the southern United States and with an area of 69,898 square miles (181,195 sq km) it is the 20th largest state in the country. It is near the geographic center of the 48 contiguous states and it shares borders with six different states. Oklahoma has a varied topography because it is between the Great Plains and the Ozark Plateau. As such its western borders have gently sloping hills, while southeast has low wetlands. The highest point in the state, Black Mesa at 4,973 feet (1,515 m), is in its western panhandle, while the lowest point, Little River at 289 feet (88 m), is in the southeast.The state of Oklahoma has a temperate continental throughout much of its area and a humid subtropical climate in the east. In addition, the high plains of the panhandle area have a semi-arid climate. Oklahoma City has an average January low temperature of 26Ëš (-3ËšC) and an average July high temperature of 92.5Ëš (34ËšC). Oklahoma is also prone to severe weather like thunderstorms and tornadoes because it is geographically located in an area where air masses collide. Because of this, much of Oklahoma is within Tornado Alley and on average 54 tornadoes hit the state each year.Oklahoma is an ecologically diverse state as it i s home to over ten different ecological regions that range from arid grasslands to marshlands. 24% of the state is covered in forests and there is a variety of different animal species. In addition, Oklahoma is home to 50 state parks, six national parks, and two national protected forests and grasslands. Oklahoma is known for its large system of education. The state is home to several large universities which include the University of Oklahoma, Oklahoma State University and the University of Central Oklahoma. To learn more about Oklahoma, visit the states official website.ReferencesInfoplease.com. (n.d.). Oklahoma: History, Geography, Population and State Facts- Infoplease.com. Retrieved from: infoplease.com/ipa/A0108260.htmlWikipedia.org. (29 May 2011). Oklahoma - Wikipedia, the Free Encyclopedia. Retrieved from: http://en.wikipedia.org/wiki/Oklahoma