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What was the main cause of the united states great depression
Causes of the great depression in america
What was the main cause of the united states great depression
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1930’s The Great Depression The Great Depression was the largest economic depression of the 20th century, and is commonly used today as a measure of how far the world’s economy can decline. The depression started in the U.S in 1929 with the Wall Street stock market crash (known as Black Tuesday). This eventually spread globally and affected the economy of many other nations throughout the 1930s. Canada was greatly affected by this as Canadian industrial production fell to 58%, the second lowest level after the United States.
The Great Depression was a severe worldwide economic depression that took place during the 1930s. The article by Edwin Gay and pictures compiled by Cary Nelson are both descriptions of how the Great Depression was and the several impacts that it had on the American economy. The range of the great depression is unprecedentedly wide according to Edwin Gay. The great depression was believed to have started from the collapse of the US stock market in 1929. This was shown in a picture as compiled by Cary Nelson
In the Great Depression of 1932, the stock market crashed which caused a lot of Americans to try to sell their stock before the price got too low. For many of the Americans, they lost all their money and became very poor. Many banks shut down due to the lack of money they each contained. In order to fix this, a plan called, “The New Deal” that was created by FDR. The New Deal consisted of many new programs to promote money to the economy so it would be back in the same cycle it was before the Great Depression.
The experience that the majority of urban and rural Americans shared together during the depression was a flat out lack of income. The differences were very few, but in the cities, the depression was more prominently visible because of a higher percentage of the population (Schultz 2014). Besides the lack of income and employment, most Americans underwent periods of time being extremely hungry. In the cities, people spent hours waiting in breadlines and were losing their homes to only end up living on the streets in communities referred to as "Hoovervilles" nicknamed after the president (Schultz 2014). In the country, families suffered because of unusual droughts of the 1930 's that caused crops to fail miserably meant the already indebted farmers commonly lost their properties.
Following World War I, the United States emerged as the world’s largest economic power, and along with this great prosperity came great propensity for great changes in society, which led to the decade known as the Roaring Twenties. During the 1920s, a new form of the American economy emerged which emphasized extremely high rates of consumption. The public began to buy as much as possible. Assisting this system was a concept known as installment buying that allowed people to acquire an expensive commodity, perhaps a new automobile or radio, and pay for it over months and months, in small amounts each time. Along with the increase in prosperity and consumption came a vast increase of popularity of the stock market.
The Great depression affected many Americans and their lives. All of the jobs were shut down due to money shortages. If that business doesn’t get money then the people who was working that business doesn’t get money either. So many other things caused the great depression.
Was World War II the event that ended the Great Depression by getting the government to finally engage in massive deficit spending? Yes, World War II was definitely the main factor in ending the Great Depression. The war brought high demand for military supplies. In turn, the demand for military supplies created a vast number of jobs in the struggling economy. Before this demand was created, the economy worked under the Classical Economist Theory where prices continued to fluctuate, demand was fixed, inflation rose and a decrease in people’s financial assets occurred, meaning their dollar couldn’t buy as much as before.
America had experienced other depressions or “panics,” but none were like the Great Depression. The Great Depression began on October 29, 1929, Black Tuesday, with the stock market crashing. Most people believe that the cause of the Great Depression was the stock market crashing. Although that is what triggered the Great Depression there were many underlying causes that lead up to the stock market crashing. Some of the underlying causes include under-consumption/over-production, uneven distribution of wealth, loose banking and corporate regulations, tariffs policies, and the stock market.
Maybe people care a lot about what other people think; or, maybe they just do not care at all. Some people live by what other people want or think is “normal.” Other people live the way they want to live and do not care about the things other people want them to be. Women tend to struggle with this alot. Stereotypes, inequalities, and politics were not things women in the 1930s wanted to live by; although, they managed to make it better for themselves through political action over time.
The beginning of the Great Depression began on October 1929 with the crash of the stock market. Production was decreasing as consumer spending goods started dropping and goods that weren’t sold went to waste and no profit was made. Slowly, but surely stocks started escalating with huge amounts of profits that had no justification. There were panic events such as “Black Thursday” and “Black Tuesday” in which millions of shares were traded and sold because of panic. As a result of these tragic events shares were worthless and investors were eventually completely wiped out.
In 1929, the U.S. was hit with the worst economic crisis in the history of the country, the Great Depression. The Great Depression left millions of people unemployed and cost millions their life's savings. The Depression lasted for ten long years for the American people. Since the Great Depression ended, people have studied it, trying to figure out what happened that started it all. The problem was, in fact, the poor economic habits of the people at the time, such as speculation, income maldistribution, and overproduction.
The Great Depression and Great Recession are two very different things. Both had different impacts on the world and everyone. Obviously the depression was the bad affect and the recession was the good one. The Great Depression was from the 1920’s decade.
The great Depression took place in the 1930’s,and was the worst Financial in the history of the region earth. The great depression affected the US dramatically it happened because the stock market crashed. There was no value taken to money because the government kept printing money and it caused it to become inflation and later on loose the value. During the Great Depression in the 1920s, Nebraska and the nation as a whole had a lot of banks. In the beginning of the 20s, Nebraska had 1.3 million people and there was one bank for every 1,000 people.
The Great Depression (Cause & Effect Essay) The Great Depression was an economic downfall for North America, Europe, and other industrialized areas worldwide during the 1920s and it ended in the late 1930s. It was a very bad time for mostly the countries in the Western world. It was the longest depression and it caused many complications.
The Great Depression started in 1929, after years of a strong U.S. economy. After the first World War, Americans began to invest and use credit. The government also spent money on aiding other countries, like Germany and Austria, to get back on their feet after the war. With such a strong economy and more money flowing through it, Americans put more trust into investing. Investors dared to be more perilous with their money and invest in bigger funds, in turn, speculation became more apparent among them.
