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The Great Depression Research Paper

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The Great Depression tore apart the American population. In the 1930s, the Great Depression was the worst economic crisis in modern history. It lasted from 1929 until the beginning of World War I in 1939. The main causes of the Great Depression included slowing consumer demand, loss of jobs and unemployment, high rates of poverty, decreased industrial production and stock market crash. When the stock market crashed in 1929, it triggered a crisis in the international economy. A rash of banks then started to fail in the 1930s and the Dust Bowl increased the number of unemployment by 20% by 1933. This failure rate would continue until Presidents Herbert Hoover and Franklin D. Roosevelt tried to help and fix the horrible economy, and did so with …show more content…

“As stocks continued to fall during the early 1930s, businesses failed, and unemployment rose dramatically. By 1932, one in every four workers was unemployed. Banks failed and life savings were lost, leaving many Americans destitute. With no job and no savings, thousands of Americans lost their homes.” This quote supports my evidence because it shows that during the 1930s, the stocks dropped and due to that, many businesses failed, leaving one out of every four workers unemployed. This caused thousands of Americans to become bankrupt and eventually led to homelessness. In the 1930’s during the Great Depression, the stock market crashed, causing thousands of lives to be impacted by the decade-long economic catastrophe. “The Great Depression had a negative effect because the stock market crashed, causing a decade long economic catastrophe.” This topic sentence shows that the stock market during the 1930s was not good, causing investors to lose all of their money due to them putting all their money into shares that were

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Because of the Great Depression, by 1933, nearly half of our country’s banks had already failed. Just four years after the depression began, the national unemployment rate was increased from 3% to an astonishing 25%, meaning that

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The involvement of the government in the United States of America’s economy and daily life contributed to the couse of the Great Depression, more known as one of the most tragic and devastating time in the history of our economy. During this time, the nation's economy crashed, which had caused widespread chaos throught the country. After a while of this happening people had completely forgotten about what wealth, development, and terror of the preceding decade because the living conditions were so unfair and there were new problems and circumstances.(Document 6). The crash of the financial markets happened in 1929.

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This tragic event sent Wall Street into a complete frenzy and took out millions of investors. Over the next few years, consumer investment and spending decreased. This caused sharp declines in manufacturing production and rising levels of unemployment. By 1933, 13 plus million Americans were unemployed and nearly half of the country’s banks failed (Coker, 2005). Thanks to the reform and relief measures placed by President Franklin D. Roosevelt helped diminish the most horrible effects of the Great Depression.

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During the Great Depression every 4 years the amounts would get doubled. From 1926-1940 is when it would double and after 1940 the amount of unemployment started to settle down and calm down again. Document 6 talks about the after cause of the Great depression in 1958. Installment was a great cause of business failure because the people would buy stuff that they can’t afford and with money they do not own or have. The people would always rely on the installment of the business thinking they will be able to buy what they would like.

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On October 29, 1929 the stock market crashed causing The Great Depression. Factories shut down, and 13 million people then became unemployed (B). 80% of American families lost or didn’t have savings (A,B) and pretty soon, 200,000 children were wandering the country with no shelter or food (A). Farmers lost their farms so they couldn’t pay loans(B). It was officially the longest-lasting economic downturn in history.

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America faced many adversities in its past, one of its greatest adversities was not war nor disease, but in fact, an economic disaster. In the years of 1929 – 1939, America suffered exponential damage to its economy and stock market. The Great Depression had severe effects on the United States such as an economic crisis, the need for a new president, a call for action, and as seen in Of Mice and Men, the cause for migrant workers. The peak of the great depression was unarguably the hardest time of the whole great depression. Between the peak and the trough of the downturn, industrial production in the United States declined 47 percent and real Gross Domestic Product fell to 30 percent (Benson, “The Great Depression”).

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For example, In Document five it states that in 1929, a collapse of the American Prosperity happen. Which means people was putting a lot of their money into securities hoping to the make the stocks rise. People began gambling which made a lot of them go into debt (Harry J. Carman and Harold C. Syrett, A History of the American People, 1952). Also a lot of people were speculating, meaning investors was putting money towards stocks hoping to gain, but risking a loss. By 1931, six million Americans could not find work.

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Imagine that one day you’re living a life of average or good wealth, good job, and, great homes. Then just imagine that all of a sudden all of that is taken away from you in an instant. You are then left with nothing now roaming these poor American streets in desperate hope of jobs. Unfortunately, events like this did happen in real life and many real Americans had to live with this economic nightmare. The United States suffered one of it’s biggest economic depression from 1929 to 1939 which was known as the Great Depression.

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Unemployment rose to 25 percent and by 1933 fifteen million people were out of work (Henretta, 2009). 9,000 banks closed their doors, and 100,000 businesses failed (Henretta, 2009). When the banks failed it had an even more severe shock. Back then the government did not insure bank deposits so savings in failed banks simply vanished (Henretta, 2009). People that were less fortunate than others did what they could to survive.

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This caused many people to lose their jobs and many businesses to lose their money. According to Tindall & Shi (2012) “from 1929 to 1933, U.S economic output dropped almost 27 percent. The unemployment rate by 1932 was 23 percent” (1082). This shows how much of an impact the stock market had on people. It caused many people to lose their jobs and people were losing money also, this caused many suffering among people.

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In the early 1930s the labor force in countries that were industrialized saw as much as one forth of its workers unable to find work. Conditions were starting to improve by the mid 1930s, however total recovery did not happen until the end of that decade. This was a very difficult time in United States history and around the world, but it could be said that something good came out of it, central banks throughout the world now try to thwart or moderate recessions. It is unclear whether a change like this would have occurred if not for the

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