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Economic effects of the great depression
Worldwide effects of the great depression
Economic effects of the great depression
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The Great Depression was a devastating period in United States History, the economy collapsed, and a staggering 25% of the population was unemployed. During this time, there were large wage disparity gaps that were very prevalent, there was no middle class, you were either wealthy or you were poor. It was hard for family life to continue, parents had to take up two and three jobs to make sure their kids were staying safe, and well. Most of these jobs were odd-jobs, and were temporary with no sense of security. It was a struggle to find work, and no job was too demeaning for you to do, because you may not find work again.
The Great Depression did not affect people in the same way, for example the rich people did not feel the impact that the poor people did. The devoice rates dropped because it was too expensive for people, people even delayed their weddings. Birth rates dropped and death rates rose. The way some people survived was by fishing maybe even hunting. Relief, Recovery, and Reform was used to help the people during the 1929 - 1945 time period.
Could you imagine living in a world with limited electricity, food, water, and other daily necessities? This is the kind of world people had to live in during the Great Depression. The Great Depression was a dark period of time in which the economy collapsed. Many people lost their jobs and money, but the government tried to give hope. To lead off, the Great Depression put millions out of work.
Families not only lost their saving as the banking system collapsed, but they were also unable to pay mortgages, rent and were deprived and evicted from their houses. The effects of the depression were
In what ways did the Great Depression affect the American people? After a decade of economic prosperity, what seemed like an era that defined the concept of the American dream, quickly came to an end when the stock market on Wall Street collapsed in 1929. The aftermath of the events that occurred on Wall Street would put its heavy mark on the years to follow among the citizens of the United States. Banks closed down, unemployment rose and homelessness increased. It was a widespread national catastrophe that had its impacts on both poor and rich.
The Great Depression Did you know the Great Depression caused lives to fall apart? The Great Depression had many effects on people’s lives. People had to give up their civilization, sadly even their life. Some ways their lives were changed during the Great Depression are they had to work as much as possible, they had to limit their use of things, and even had to use one item for multiple things to keep money uses low.
The Great Depression of 1929 negatively affected the American Economy, therefore affecting the people who lived in that economy like men, women, and African Americans. It is strenuous for our generation today to imagine how toilsome the Great Depression was on the people, it not only affected America but it affected many other countries. In our generation we feel that we are entitled to everything that we just deserve but during the Great Depression they hard to work to earn what they got, now we have everything at our fingertips but then they actually had to go out and look for it but the Great Depression made this harder for them. “Food and jobs were hard to get and many people stood in lines for government hand-outs.
From 1933 to 1934, the rate of unemployment skyrocketed it was at “an extraordinary 25 percent with another 25 percent who had their hours and wages cut” (Campbell). These statistic mean that one out of every two households were unemployed or underemployed during the Great Depression. All the country was affected, getting a job was an impossible task. Unemployment affected everyone, from the rich bankers to the farmers. Around 9000 national banks were closed due to the market crash and hundred of farmers lost their land and homes to foreclosure as a result to the Dust Bowl.
Many people had to sell many of their prized possessions and they would not have the same luxuries they initially had before the depression. Due to people being laid off, they did not much money. With people not having a cash flow they went into poverty. “Digging In” by Robert J. Hastings states, “People “worked a day in the hay,”. They did just about anything to earn
Effects of The Great Depression The Great Depression started in the 1930’s. It affected many different people in many different ways. It affected the farmers because there was a surplus of food driving prices down, the children because they had little to no food, it made some people famous, and even the president’s because they had to try to find a way to make things better and give the people relief. It was a very difficult time in history.
The Great Depression has a huge impact on our society from 1929- 1950, the cause was many factors such as; Stock market crash, bank failures, high taxes on foreign trade which cause for the consumers to stop spending money. These problems in the economy devastated our country and made the people rely on the government to help build programs to stimulate the economy. The “New Deal” was a group of programs that would greatly help boost our economy , which lead to domestic growth. Programs such as Civilian Conservation Corps (CCC) and Civil Works Administration (CWA) that were created to fight against unemployment and provide work relief, the Federal Housing Administration (FHA) and Homeowners Loan Corporation (HOLC) regulated mortgages and provided
The Great Depression was the biggest economic downtown and it left millions of Americans in poverty and unemployed in the 1930s. The new era of living after the Great Depression allowed Americans to get back on their feet, recover and have newer rights and ways of living. The Changes to American Society in the 1920s and 1930s had both a negative and positive effect on society because The Great Depression put millions of Americans in poverty, The government created more job opportunities for Americans and women gained more rights and equality. The Great Depression had a negative effect on society because it left millions of Americans out of work and in poverty.
The effects of the depression up until the end of the first War. many soldiers returned and had to compete with low class workers to find jobs, and they started cutting down the wartime for soldiers. The Depression hit Agriculture hard to, it was already a rocky business. People 's confidence in the economy dropped after the crash, people stopped spending so much money, this caused
Oluwatimilehin Olojo David US History July 16, 2023 Great Depression The great depression was a big historical event that affected a lot of US citizens and other countries for an awfully long time. This essay is to describe how the Great Depression affected the daily lives of an average American, the employment, basic needs, social and psychological well-being, and the experiences of women, children, and minorities. And talk about how President Roosevelt was able to instill confidence in society.
What is the great depression? The Great Depression was a time period where there was no money. It had many negative effects on the people who lived through it. Some people think that the great depression had positive effects. Most people think it had a negative effect.
