Australia and the Great Depression

After World War 1, America had to demobilize and revert back to a peace time economy. During the 1920’s, it was viewed as a prosperous economy since there was a new labor force due to demobilization, new inventions, and a new infrastructure. Also moral spirits were high since America along with the Allied Powers defeated Germany and the Great War was finally over. However, America began making many economic policies and decisions that will eventually lead up to the Great Depression.

The Great Depression first started as early as 1928, but did not affect the United States until 1929. The Great Stock Market crash started the event of the Depression here in America, but was not the main cause to why it happened. During the early stages of the depression, President Hoover failed to help the economy and continued with his belief system of giving people the least help they needed, so they can earn themselves a rightful spot with pride, not with government’s help. The Great Depression was a very intense experience for us, even until today, the

The Roaring Twenties is known as an age of parties, jazz, and overspending. After World War I, the optimistic American people reacted by celebrating and overspending. They purchased new appliances such as cars, radios and refrigerators; they purchased luxury items like clothes and invested in stocks. Their new attitude towards the booming American economy was carefree, leading to a series of events. First the stock market crashed. Next, the banks failed. Then, companies laid off employees who were unable to make the payments on the items they purchased. Tariffs and droughts further complicated the situation. This decade became known as the Great Depression, because the economic setbacks impacted everyone and everything. But the question is “Why did Americans lose so much money in such a short period of time?” One answer is, the failing stock market. A second is unregulated banking systems which allowed for buying on margin. Third, the lifestyle following World War I was too materialistic. The Great Depression was caused by Americans failing to responsibly manage their money.

In conclusion, the Great Depression had many contributing factors, and the Great Crash of 1929 was not the sole cause. The “Dust Bowl” was a major factor in the Depression, and foreign affairs as well as banking failures were important contributions

The great depression (1929-1932) was a time of extreme hardship of people living in Australia. Even before the wall street crash, unemployment in Australia was already at 10%. After the crash of wall street Australia’s unemployment rate nearly doubled. The cause of the great depression is still the subject of debate by economists. Although the collapse of New York Stock exchange determined its timing there were several factors involved. Reasons were a fall in export price sales, a fall in overseas loans leading to reduction in government capital spending, a fall in construction. Socially this impacted Australia in many ways. Without work for more than 30% of Australians and a steady income people lost their homes and were forced to live out on the streets, other social effects of the great depression were,

Most say the onset of the Great Depression was spurred on by the stock market crash. Although economists don’t think that it was the only reason for Canada being in such a terrible state. In the 20s, people had, in their spending frenzy, bought large quantities of stock though credit, stock that they could not afford. People owed money to businesses and banks, and accumulated debts that they couldn’t pay off. In 1929, when it came time to pay, they didn’t have the money, and profits dropped drastically. The values of the stock became completely worthless. With no money and no jobs, people had to leave their homes either because they couldn’t pay for them, or they moved to search for a job.

The Great Depression originated in the United States with the stock market crash on October 29, 1929. The depression was the biggest economic fall in American’s history. This crash stretched throughout the globe and affected the rich as well as the poor. There were many causes that assisted in bringing the depression into existence. However one of the main causes was the disproportionate riches during the nineteen-twenties. The gap between the rich and the working class people was the enlarged industrialize production during this period. Also in this period production cost fell quickly, wages rose slowly and prices remained steady.

The Great Depression of the 1930’s was caused by many problems. They include overproduction, monetary policy, war debt, tariffs, the stock market crash, and unequal distribution of wealth. These each play a specific and intricate role in bringing the U.S economy to its knees.

‘The hardships of the Great Depression in Australia were not shared equally.’ (Anderson et. al.,2012)

Australia in the early 1900s has developed a reputation as a ‘working man’s paradise’ for its greater opportunity to success and an egalitarian society. However not all workers proved this to be true. In order to determine this statement, Issues to be discussed include firstly the hours of work for different genders, secondly the working conditions and finally the dispute for the right to fair treatment to women and Aboriginal natives throughout the 19th century.

The Great Depression remains to be the worst economic slump ever in American history and one which spread practically all over the industrialized world. The Depression bombarded in late 1929 and lasted nearly a decade. Many factors elemented the depth of the widespread prosperity. However, combined, the greatly unequal distribution of wealth throughout the 1920's and the extensive stock market speculation that took place during the latter part that same decade remain the key of all elements.

The Great Depression is one of the most misunderstood events in not only American history but also Great Britain, France, Germany, and many other industrialized nations. It also has had important consequences and was an extremely devastating event in America. It was the longest and most severe depression ever experienced by the industrialized Western world. When the New York Stock Exchange crashed in October 1929, the United States dropped sharply into a major depression. The world was in wide demand for agricultural goods during World War I, but they had rapidly decreased after the war and rural America experienced a severe depression throughout most of the 1920's and even on into the 1930's.

The economic expansion of the 1920’s, with its increased production of goods and high profits, culminated in immense consumer speculation that collapsed with disastrous results in 1929 causing America’s Great Depression. There were a number or contributing factors to the depression, with the largest and most important one being a general loss of confidence in the American economy. The reason it escalated was a general misunderstanding of recessions by American policymakers of the time.

<br>The nations unequal distribution of wealth also contributed to the severity of the depression. During the 1920s the share of the national income

America’s Great Depression is believed as having begun in 1929 with the Stock Market crash, and ending in 1941 with America’s entry into World War II. In order to fully comprehend the repercussions and devastating effects of the Crash of 1929, it is important to examine the factors that contributed to the catastrophic event which led to The Great Depression. The Great Depression was the worst economic slump in U.S. history, and it spread to most of the industrialized world. Many factors played a role in bringing about the depression; however, the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920s, and the