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What Caused The Great Depression Essay

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The depression was caused by a number of serious flaws in the economy. The U.S. Economy expanded swiftly between 1920 and 1929, a duration dubbed “the Roaring Twenties”, the rich made huge incomes, however increasingly more Americans spent greater than they earned, and farmers confronted with low prices and heavy debt. The lingering consequences of World War I (1914-1918) hastened financial issues in many nations, as Europe struggled to pay battle debts and reparations. The stock marketplace, targeted at the New York Stock Exchange on Wall Street in New York City, turned into the scene of reckless speculation, wherein all and sundry from millionaire tycoons to cooks and janitors poured their savings into shares. During the 1920s, the U.S. Stock …show more content…

Nonetheless, stock prices endured to upward thrust, and by way of the autumn of that year had reached stratospheric tiers that couldn't be justified with the aid of predicted future income. Faced with this catastrophe, households split up or migrated from their houses on the lookout for work. 'Hoovervilles' (named after President Hoover, as an insult), shanty cities built of packing crates, abandoned cars sprung up across the Nation. Gangs of youths, whose families couldn't afford them, rode the rails in field motors like so many hobos, hoping to find a job. 'Okies', sufferers of the drought and dust storms inside the Great Plains, left their farms and headed for California, the new land of "milk and honey" in which they believed all one needed to do was reach out and pluck food from the timber. America's unemployed had been on the pass, but there has been actually nowhere to move. Industry was badly shaken by using the Depression. Factories closed; mills and mines were abandoned; fortunes were lost. American enterprises and the workforce were both in an extreme

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In the 1930s more than 15 million American had no jobs. That is more than 20 percent of the U.S population at that time. The United States was in a bad situation called The Great Depression. There was a lot of poverty since the stock market crashed in 1929. Americans lost their money/savings.

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Living conditions also improved under FDR’s administration. Hoovervilles, communities of poor, homeless families in public areas, existed all over the country prior to FDR (Document 5). With government assistance to make loans and improve conditions of homes for low-income families, fewer people were evicted from their homes. Unemployment, at a peak of 12 million unemployed in 1933, greatly decreased throughout the 30’s, ending the decade with a low of 670,000 (Document 9). Overall, FDR worked very hard to solve all of the problems in America in such a manner that is understandable to the average

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The Great Depression was an economic crisis that took place all over the world during 1929-1939. America and other nations were not prepared nor expecting this. Before it hit, stocks were high, businesses were thriving, and jobs were full. This event made the Roaring Twenties turn into one of darkest times in American history. The Great Depression was mostly caused by speculation/installment buying, banking, and unemployment.

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This put a gargantuan hole in the already degrading economy. Things continued to worsen, even though President Hoover assured the people that this crisis would soon run its course. Meanwhile, America’s industrial production had dropped by half. Towns and cities were riddled with homeless people, and more and more people were unemployed, and there were endless lines of people going into breadlines, and soup kitchens. Farmers couldn’t afford to harvest their crops, leaving them to rot in the fields while people were starving

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During the Great Depression from 1929 to 1939, workers lost their jobs as the demand for products went down and companies had to fire them to save money. Families were very poor and often had little food and other resources. The current president, Herbert Hoover, did little to help because he believed in Laissez Faire Capitalism, and thought the economy would eventually repair itself without any intervention from the government. Many Americans found fault with this, and expressed this distaste by doing things like name the shantytowns that evicted Americans lived “Hoovervilles”. The preceding president Franklin Roosevelt took immediate action to help Americans suffering in the Depression.

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The average income of the American family dropped 40 percent from 1929 to 1932. Income fell from $2,300 to $1,500 per year. People lost their jobs, struggled to provide for their families, and subsequently business failed. Just as people were optimistic about the overall state of America it took a turn for the worst. The great depression hit in the fall of 1929.

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Roosevelt’s responses to the Great Depression was effective mainly due to the fact that the percent of unemployment decreased during his time as president. For instance, in document F, the diagram explores how in the following years from 1929- 1943 there is an increase and decrease in unemployment. The diagram highlights how after the year of 1938, the percent of unemployment decreased more than fifty percent.(Doc. F). Therefore, the greatest percent of unemployment being decreased occurred right after “Fair Labor, Standard Act of 1938”.

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Hoover exclaimed “We in America today are nearer to the final triumph over poverty than ever before in the history of any land”(White House), but only months later the stock market would collapse and plunge the nation into a depression. After the crash, Hoover discarded Republican officials who “believed there was nothing for the government to do but wait for the next phase of the business cycle”(Britanica 1). Hoover started by calling business leaders to the White House and urging them to not reduce wages or lay-off workers. Hoover also “asked Congress to appropriate money for public-works projects to expand government employment”(Britnica 1). Though Hoover attempted to act, the depression worsened and plunged the nation's economy into further depths of despair.

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By 1933, 20.6% of the labor force was unemployed.(Doc N) Soup kitchens and bread lines were established by private charities to feed those who were unable to feed themselves and their families. (Pg. 536) Three years later, Americans were facing another societal tragedy. Once drought hit the Great Plains region and the Dust Bowl engulfed the area in 1932, farmers were forced to abandon their unprofitable farmlands to find a new source of income in the West, notably California.

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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.

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You have probably heard about the Great Depression which was a tough time period that no one can forget. It lasted a total of 10 years through 1929 to 1939. The Great Depression was caused by many reasons however the main causes would be when the stock market crashed,the banks failed, and the dust bowl happened. It was a time when people lost their homes, jobs, and lots of money.

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the market was built upon loans from the banks. This picture represents how the stock brokers reacted when the stock market started to fail due to the over speculation of stocks. Stockbrokers. It was not only the over speculation of stocks but it also failed due to the marginal buying of stock thus, causing the stock market to crash.

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Beginning in 1929 a worldwide economic downturn the Great Depression began. It was the longest depression ever experienced lasting until about 1939. The Depression started in the United States, however because of the drastic declines in productivity, unemployment, and deflation the Great Depression was felt in almost every country around the world. Only the Civil War ranks ahead of the Great Depression as the gravest crisis in the history of the United States of America.

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Nishat kazi (Muniya) 11th grade The Great Depression was one of the worst downturn of economy in the history that took place during the 1930s. It had a catastrophic effect in countries on both rich and poor. Though there are a lot of causes behind the Great Depression,the main three causes were-1.Bank failure 2.Stock market crash 3.laissez faire.

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To Act Or Not To Act Cognisant of the depression he is in, Hamlet lives out his life as a prince. Hamlet’s father had recently died and suspicions rise in Hamlet after his mother remarries quickly to his uncle. Hamlet’s deceased father's spirit then comes about to him and tell him that his uncle, in fact, was the one who killed the king. Hamlet devises a plan for revenge against his uncle but fails to completely execute the plan. Afterwards, many people are killed, mostly due to Hamlet’s failure to execute or failure to execute correctly.

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