 The Roaring Years, the Great Depression, and the New Deal (Early 20th Centuries)Mehmet Baha Karan ()
Chapter Chapter 10 in A History of Stock Exchanges, 2025, pp 305-342 from Springer Abstract: Abstract The New York Stock Exchange (NYSE) underwent significant changes between World War I and 1971. In the 1920s, speculation in industry and markets led to rapid growth. This came to an end in 1929, triggering the Great Depression. The US government decided to rebuild confidence in capital markets by enacting the New Deal, which established regulatory agencies. The Securities Act of 1933 and the Securities Exchange Act of 1934 were significant changes that led to the creation of the Securities and Exchange Commission (SEC). The SEC’s job is to regulate trading practices, ensure transparency, and prevent fraud. These reforms reduced the excesses of previous speculation, making the financial environment more accessible and stable. As technology advanced and more people from the middle class began investing, the NYSE helped fuel economic growth after World War II, providing funding for the war effort. By 1971, the NYSE had become a more transparent, regulated, and inclusive way to promote economic growth in the United States. Date: 2025 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-032-07788-2_10 Ordering information: This item can be ordered from DOI: 10.1007/978-3-032-07788-2_10 Access Statistics for this chapter More chapters in Contributions to Economics from Springer |
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