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Great Depression In America Essay

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The Great Depression was an economic turning point that occurred in the early 1900s. During that time, many U.S. citizens lost their jobs, families and homes. It was not until the mid 1990s when the Great Depression began to diffuse elsewhere. Once the Great Depression affected Europe that is when it created mass destructions. This destructive event lasted only ten years, which was enough time to bring tension and poverty between the country and continent. This tragic event has impacted the world at a pessimistic and an optimistic angle because of its power at reconstructing society’s mistakes and creating an unforgettable glitch in the economic world.

The Great Depression traces back to the early 1900s in the United States. What triggered this event was a, “catastrophic collapse of stock-market prices on the New York Stock Exchange” (About the Great Depression). The New York Stock Exchange was a market located in New York, where materials and commodities would be traded, but careless mistakes lead to a drop in its prices and wiped out numerous investors which resulted in this event. The U.S. and …show more content…

After the Stock Market crash, society soon realized that they needed to adjust their banking regulations and they did this by improving, “financial protections, enforced by the newly formed Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC)” (Effects of the Great Depression). Both were federal agencies that help set strict laws to maintain protection. As for the role of the government, they were able to participate and engage more in, “people’s lives to unprecedented levels, levels that continued long after America had recovered from the Great Depression” (Effects of the Great Depression). This meant that more and more families were being

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