Causes And Effects Of The Great Depression Essay

The Great Depression was a period in time where millions of Canadians had suffered from hunger, unemployment, homelessness and an economic downfall. The horror of the Great Depression took place in 1929-1939 and had lasted for a decade affecting millions of people worldwide. However, Canada had been impacted the most. The lasting horror of the Great Depression resulted in disastrous impacts on the economy. This was due to the Stock Market Crash, the construction of useless relief camps to open job opportunities for men, and the lack of raw materials which affected the lives of many farmers.

Destruction, debt, damage––just a few words that describe the dark age of Prohibition. America, in the midst of a decade of booming economy, thriving art, and post-war excitement, became shrouded in the dark cloud of Prohibition. The years following would be tainted with illegal behavior, sneakiness, and a culture desperate for alcoholic libation. It’s easy to claim that while the 1920’s were certainly “roaring,” they would have truly been the Golden Age, if not for the Prohibition.

“My parents survived the Great Depression and brought me up to live within my means, save some for tomorrow, share and don 't be greedy, work hard for the necessities in life knowing that money does not make you better or more important than anyone else. So, extravagance has been bred out of my DNA.” This quote from a child who was born and raised during the Great Depression is telling us something that used to be true to nearly everybody and is not as true as it should be today. This is an idea in which the majority of the families who survived the Great Depression lived by, and some still live by today. The Great Depression had a dramatic effect on many, and it affected almost every demographic not just the poor or the rich, and it

When a person hears the words “The Great Depression,” almost everyone thinks of the worst economic times in the United States. The Great Depression started in the late 1920s and continued on until the early 1940s. It is known as being “the deepest and longest-lasting economic downturn in the history of the western industrialized world” (History.com). We can learn from the occurrences during The Great Depression that government involvement is the deciding factor of whether an economy will expand or continue to shrink during a recession.

Have you ever thought about the end of the great depression in 1939, to the start of American action in world war two with lend-lease to the Allies and the Soviet Union in September of 1940? Most people would look at these two dates and say there is no correlation between the two world wide events. But there is with the second great war being the ignition for the American economy to once more be a roaring fire of trade and production in the world. Know let me tell you how a war 3,783 MI East and 4,916 MI West started Americas road back to an economic power house, but first let me take you back to the start of The Great Depression.

The economic down turn that occurred in 1929 was know as the great depression. This econmic failure left the U.S helpless and in despair till World War 2 began and shot americas economy through the roof. The great depression was a time of confusion and a vast change of life compared to how people were living in the earlier 20’s. The failure of the economy happened for various reasons, all leading up to the market crash of october 29, 1929 or “black tuesday”.It could be said that the lifestyle and the ways Americans made money in the 1920’s was ultimately the root cause of the Great Depression. To fully understand the causes of the great depression we first need to look at how life was in the early 1920’s.

The United States has faced quite a few depressions every 20 or so years. At the end of the 1920’s the United States had a thriving economy until the Great Depression hit in 1929. The Great Depression was the most severe and longest ever experienced by the industrialized western world. This depression occurred between 1929 and 1939 resulting from a time of major economic decline, bank failures, reduction in purchasing, and the drought conditions. Before the depression, profits for businesses skyrocketed, wages increased, and the distribution of wealth widened. Owning over a third of all American assets, The richest 1% of Americans saved money that could have been redistributed towards the economy and into the middle and lower classes. The middle

The Great Depression was the worst downfall ever in American history, causing many people grief. “The Great Depression soon began after the stock market crash in October 1929” (The Great depression, 2009). On what is known as “Black Thursday” around 12.9 million shares were traded. Five days later, on “Black Tuesday” 16 million shares were traded, leaving the shares worthless. This led factories and other businesses to slow down production and start firing workers. By 1930, 4 million Americans looking for work could not find it, and that number rose to 6 million by 1931. By 1933 of the Great Depression, 13 to 15 million Americans were unemployed and nearly half of the country’s banks had failed.

The Great Depression encompassed many years of frustration and confusion.Not only have numerous historians delved into the causes without narrowing them down, but economists have, also. Notoriously, the stock market crash, in 1929, has taken the blame, or been the brunt of precipitating the depression. In fact, the stock market crash was only a contributing factor in the United States of America.

The Great Depression was a horrible event that took place almost 100 years ago. It was a time in our society when people had no money and no food. Everyone was losing their jobs because the companies couldn’t afford to pay them and stay in business at the same time. After the Stock Market crashed and the economy went downhill, a lot of changes were made within the government to make sure that nothing like this would ever happen again. This period in time was a sad period, but there were a lot of good things that happened and took place because of it. In order to really understand all the effects that happened after the Great Depression, you truly needed to live during the time period, but we can’t do

In 1929, A Yale University Economist Irving Fisher stated. " The nation is marching along a permanently high plateau of prosperity".(5) 5 days later the stock market crashed and the worst economic downturn in American history called the "Great Depression" began. The Depression started in 1929 and would last for a decade until we entered War World II. The Great Depression affected every part of economy and no job was safe. In 1929 unemployment was at 1.5 million and by 1933 unemployment reached over 13 million which meant 1 out of 4 were out of work (3). Some who were successful businessmen before the stock market crash and now selling pencils or apples on the street corners after the crash .Many business closed

(Www.english.uiuc.edu) states that The Great Depression began in the United States but quickly turned into a worldwide economic slump owing to the special and intimate relationships that had been forged between the United States and European economies after World War I. The United States had emerged from the war as the major creditor and financier of postwar Europe, whose national economies had been greatly weakened by the war itself, by war debts, and, in

The Great Depression also called Depression of 1929, or Slump of 1929, began in 1929 and lasted until 1939. It was the longest and most severe depression ever experienced by the industrialized world. Though the United States economy had gone into depression six months earlier, the Great Depression may said to have begun with a catastrophic collapse of the stock market prices on the New York Stock Exchange in October 1929 call the Stock Market Crash of 1929. During the next three years stock prices in the United States continued to fall, until by late 1932 the had dropped 20 percent of their value in 1929 (http://www.britannica.com/bcom/eb/article/0/0,5716,38610+1,00.html).

There are numerous causes for the Great Depression, but with intensive research we have narrowed it down to a few specific origins. Some of the contributing factors to the Great Depression included the stock market crash, banks failing, poor education about money, agricultural problems, and President Hoover having a “do little” attitude. Almost overnight the United States went from a bustling “Roaring Twenties” to a dreary depression.

Effects of the Great Depression The introduction of the discussion will focus on the origins of the Great Depression and the escalating events that led to it. This will provide adequate foundations to bring up questions and attempt to answer them in an objective fashion as to why and how the Depression affected different industrialized countries in different ways. The core of the debate will consist of detailed comparable analyses of the consequences of the Depression with an emphasis on the economic aspects.