Answer :
Answer:
The policies of the three Republican Presidents helped most to promote economic growth and prosperity are given below:
1) Abraham Lincoln (1st Republican President)
Policies :
- The Policy of “ free labor " - all Americans, whites, and blacks alike deserve the Chance to advance in life.
- Institution of income tax.
- Created universities through Morrill Land-Grant act.
- Established the United States Department of Agriculture.
- Re-established central banking system.
Outcomes :
- Created a vast National Market and strong economy governed by National Institutions.
- There was prosperity among the low and middle-income groups.
2) Calvin Coolidge (11th Republican President)
Policies :
- “Scientific Taxation” - lowering taxes will increase government receipts rather than decreasing them.
- Limited Government Spending.
Outcomes :
- Rapid industrial growth, economic growth, and Prosperity.
- There was an increase in GDP, Rising wages, declining unemployment, and inflation.
- He built one of the strongest economies.
- The Prosperity achieved during Coolidge's term is called “Coolidge Prosperity."
- This period of Rapid Economic growth is called "Roaring Twenties."
3) Dwight D. Eisenhower (13th Republican President)
Policies :
- The Policy of Dynamic Conservatism.
- Balanced Budget.
- Interstate Highways.
Outcomes :
- Emphasized social security and extended benefits to 10million workers.
- Economic Policy focused on stability and balancing budget reduced National Debt.
- Interstate Highways program created many jobs.
- Low unemployment and low inflation.
- Incomes increased because of social security.
As a result, there was widespread economic Prosperity, which paved the way for later Expansion of the Economy.
