The year 1929 marked a pivotal moment in American history with the occurrence of the Wall Street Crash, an event that led to rippling economic and social consequences. The causes and ramifications of the crash are varied, its profound effects also due to its concurrent environmental crisis, the Dust Bowl, and Herbert Hoover's inadequate handling of it, caused a lasting impact on literature and the human condition and marked the US for centuries to come.
The Wall Street Crash of 1929, also known as the Great Crash or Black Tuesday, was a defining moment in the financial landscape of the United States. It was caused by an accumulation of factors, including speculative excesses, an overextended credit system, and the presence of economic imbalances.
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This optimism, combined with easy credit availability, led to speculative activities in the stock market and to people taking out loans to acquire commodities. People stopped thinking in terms of whether they were able to afford something, and rather thought anything is buyable if they take out a loan from the bank. Many bought home appliances, but the most popular items were cars. In the span of nine years, almost every household in the US had a personal car, by 1929 there were about 23 million cars in a nation of 123 million people. By that same year, the production of cars was the most valuable manufacturing output in the US (Rauchway, 2008). The population also invested heavily in stocks, often borrowing money to do so, in hopes of capitalizing on the rising stock prices. This speculative fervor eventually contributed to the stock market …show more content…
Works such as John Steinbeck's "The Grapes of Wrath" and “Of Mice and Men”, and F. Scott Fitzgerald's "The Great Gatsby" depict the disillusionment, economic inequality, and moral decay prevalent during the era. These literary masterpieces bear witness to the human condition, capturing the struggles, hopes, and shattered dreams of individuals navigating a world engulfed by economic turmoil. It was during this time that John Steinbeck crafted his masterpiece, "Of Mice and Men," which vividly portrays the struggles and dreams of individuals amidst the harsh realities of the era. Examining the themes of loneliness, the American Dream, and the powerlessness of the common man, Steinbeck paints a dire picture of the reality of the common worker during the Great