Great Depression Dbq

The Great Depression The Great Depression had multiple causes and forced the United States into many problems in the workforce, schooling, and home life. In the 1920’s, the United States switched to consumer goods which caused an increase in the amount of goods people were buying. Due to people making more purchases, the economy grew stronger. The stock market also began to grow and get stronger because of people, corporations, and banks investing money in stocks. This continued to go on due to the Laissez Faire, which was a policy that let purchases, and stocks go their own way economically. Calvin Coolidge, the president at the time, happened to be pro Laissez Faire which is why he did not interfere. Herbert Hoover then took over as president,

The day the stock market crumbled was known as “Black Tuesday,” which was on October 29, 1929. In order to fix this depression, the government of the United States had to think of a solution that could not only fix the depression, but also ensure that a depression this substantial does not occur again. President Roosevelt became president as the Great Depression was still going on and promised United States citizens help to get out of the depression. Roosevelt ran against Hoover in the election and many people liked Roosevelt over Hoover. Hoover had a plan that he thought would fix some of the problems at the time of the depression. He would give money to banks, railroads, and insurance companies in hopes that the money he gave could have an impact on the poor. He passed a tariff that raised taxes on foreign goods to make people buy products made from America, which was known as the Hawley-Smoot tariff. Hoover did not want to help people because he thought it would make then lazy and refused to pay unemployed veterans after that had been promised money. People began to not trust Hoover and Roosevelt gained

In 2008, economically, we were on our way to another massive depression. It took two years and the creation of new policies to get us out of this. If it weren’t for the Great Depression, people might not be as careful as they are with money and there would not be any New Deal programs that still have an impact today. The FDIC is very important nowadays because it insures your bank account. If there were to be another heroic depression, you would not lose all of your money that you have in the bank and it would instead be safe. Banks tend to be more careful with loans and look at the background of the individual who wants the loan at a specific point in time. Back in the time of the depression, people could buy anything using a credit, but now people have to be more careful with money and what they spend it on because it is not as easy to keep spending and pay later. Workers rights are protected more now than they were before thanks to the Social Security Act, or SSA. The SSA was an act that allowed those who were older or hurt on the job to collect money. Businesses had a large impact on workers because businesses were now beginning to become protected. This means that not as many workers were being laid off because businesses were finally able to support themselves