The Great Depression was the most devastating thing to ever happen to our country economically. Many different problems came together to ultimately cause the devastating depression. These problems were made up of different social attitudes and trends. Plus, political problems with our government also came together to be a major cause of the depression. Economic problems came to trigger the depression too, involving banks and our economy. The Stock Market Crash of 1929 was not so much a cause of the Great depression, but the event that kicked it off. The Great Depression started with the Stock Market crash of 1929, and was caused by many problems politically, economically, and socially. The social trends and attitudes of the late 1920s led to two important problems that turned out to be a major cause of the Great Depression. Over Speculation was a big problem because of people 's social attitudes of the time. Many investors ignored risks and wanted quick profit while they got greedier without realizing what could happen. However, when the downturn in the market came, people weren 't ready and they panicked. For …show more content…
Political problems involving the United States’s government also became a big cause of the Great Depression. Government isolationism and a laissez faire government were two big political causes. However, the government also greatly hurt everyone(consumers and businesses) by increasing taxes which hurt the consumers. This caused decreased spending(along with other causes) which hurt businesses. Lastly, the government made tariffs even higher amidst everything else that was already going on! A hands off government doesn’t help much during a depression in the way of saving us. The first fall in the market we were saved by large firms like J.P Morgan. However, the second time no one helped break us out of the crash, causing a The Great Depression. Our government today uses deficit spending to save us in case of another crash, but that wasn’t the case back