Book

Description

Lessons can always be drawn from the past.  A century has nearly passed since the Great Depression, yet it still stands as one of the most noteworthy focuses of economic history for researchers and scholars worldwide. This book offers a deep dive into one of the most overlooked connections when pealing the multifaceted consequences of economic depression. Utilizing a simple empirical model, it explores an unanticipated effect of welfare policies on the national criminal rates using a case study centering on the Great Depression and the New Deal - a relief program in the United States from 1933 to 1940.  This short study will guide you through every stage of its research path, from gathering and constructing its unique panel data to developing and renovating multiple quantitative equations suggested by precedent researchers. The research adopts a state-scale approach, highlighting its belief in the macro-economic angle in policy analysis. Originating from both public and private sources, the data centralizes seven crime classifications and three relief aids during this time period while controlling for employment, government funding, financial capacity, regulations on alcohol and taxes, and natural conditions. By the end, the book proposes and carries out multiple tests to verify the actual applicability of the model. From this base, the discussion will emphasize the pros and cons of different technical elements of the exploited mathematical tactics to inform future studies of the same topics. The core purpose is not solely to expand the vast literature on policy analysis and economic history but also to signal the future while honoring the past.