Depression in 1920s Essay

According to research published in The American Journal of Psychiatry, major depression rates for American adults increased from 3.33 percent to 7.06 from 1991 to 2002. “Depression (major depressive disorder) is a common and serious medical illness that negatively affects how you feel, the way you think and how you act”(Parekh). Although some may believe that depression is stagnant, more Americans are in fact dealing with depression than in years prior. I heard this and was unsettled. In a time of openness and greater opportunity than ever before, why is depression increasing in Americans? My research has lead to the conclusion that social media, the modernization of western culture, and the average American diet has been leading factors in

The large foreign debt that Australia held before the depression caused the effects of the Great Depression to be so grave. Before the depression, Australia was building large amounts of infrastructure. 2 This led them to accumulate large amounts of debt. The depression caused a reduction in economic activity which in turn lead to a reduction in tax revenues. With the reduction of the amount of tax revenue the government was earning, it made it very difficult for Australia to pay back its loans. Fearing that Australia would default on its loans, The Bank of England sent an envoy to the Australian government. Sir Otto Niemeyer told the government at a conference in Melbourne that they needed to limit government spending. This is known as the "Melbourne Agreement." 12 The Australian government's policy at the time was to cut back on spending. 9 This cutback in expenditure caused there to be less money available during the depression which further worsened its impact. Instead of spending more money in the economy by creating large public works projects and in turn creating employment, by reducing the amount of money spent in the economy, the Australian government made the situation much worse. During the depression, Australia large amounts of it's gold reserves to stay afloat. 9 "In the early 1930s, Bankers, who were the only source of new money or credit, deliberately refused loans to industry, commerce and agriculture." 6 The great

In many parts of Australia the supply of food and services was a difficult job, especially since most women and men were abroad fighting or serving for their country. Most men left to some armed force jobs leaving job opportunities valid. Bid industries had to supply these men with ammunition and a supply of clothing during war. This time was particularly controlled by the government on how they are distributing the amounts of goods. Sooner or later Australia was out of enough goods and supplies to provide for everyone. When the Japanese captured countries that exported teas and other food items the soldiers used to drink their supply went low. When American troops arrived in Australia many of them required a sufficient amount of food. To make sure that everyone was sent the same amount of supplies and goods the government came up with a rationing system. To do this everyone requires a coupon to buy a particular amount of food. Although many of the people were in pain during this time, they felt that the system was helpful and fair. On May 1942 the government decided to ration items to do with clothing, before this many Australians rushed in markets to get the most closed out before the rationing began. People were encouraged to be dependant on their own farms when they were growing vegetables. People had to do everything

Politically the great depression hit Australia hard, as many Australians lost confidence in their government representatives. A number of radical or extremist organizations gather strength and popularity as a result of the large scale public dissatisfaction. In Australia the developing of the new capital Canberra was put to a stop leaving a population of 7,000 in limbo, workers were laid off and the federal capital commission was abolished. The Sydney harbor bridge was a great way of bringing employment back into Australia during the depression. At the time of the war and after the great depression it was Australian best interest to have an alliance with Great Britain. Australia needed to form an alliance with Great Britain during World War II, because if the war ended up near or in Australia, we would need the help from Great Britain and their allies. Having Great Britain as its ally at that time was the right thing to do as it protected its colonies from the imperil japan and other foreign invaders. During the period of 1942 Australia was extremely worried as the fall of Singapore in February 1942 and had the threat of a possibility of a Japanese

For many years now, Australia’s trade has continually been evolving and improving. Throughout most of the 1900’s, Britain was Australia’s main trading partner. Trade with Britain was 5 times greater than with

* However there were some things that could deny a mother her money, such as:

In the duration of the 20th century after WWII, in which two significant events occurred which were the fall of Singapore to the Japanese army and the bombing of Darwin by the Japanese- the fear and the threat towards the system of communism started to emerge and expand throughout Australia. As these events occurred they also encouraged the Australian government to really think more closely about issues of national security in the post war environment. Also in order to protect Australia from future attacks or wars, Prime Minister Robert Menzies set out to ally Australia more closely with the United States. In the decades after WWII, a fear of the growing influence of communism in Asia also meant that Australian governments were willing to send troops to conflicts in Asia. As

Achieving external stability is an important objective of economic policy, achieving this stability ensures that imbalances in Australia’s economic relationships with other economies do not hinder achieving domestic economic policy goals such as lower rate of unemployment, higher rate of growth and lower inflation. There are three main factors that effect external stability the deficit on the current account (CAD), net foreign liabilities and the Australian dollar. Australia’s experienced times when overseas investors decided that the economy’s external position was unstable, and when investors like such decide to withdraw their

Australia saw many changes during the course of the Second World War. WWII begun on September 3 1939 when Britain declared war on Germany due to the German invasion of Poland 2 days prior. (www.anzacday.org.au/history/ww2/overview/ww2-01.html) Because Australia was allies with Great Britain, Prime Minister, Robert Menzies, declared war on Germany stating “that in consequence of a persistence by Germany in her invasion of Poland, Great Britain has declared war upon her and that, as a result, Australia is also at war.”(Prime Minister, Robert Menzies’ declaration of war speech – www.ww2australia.gov.au/wardeclared/) Changes that occurred in Australia effected the political, economic and social factors of our National Identity, some of which being permanent whilst others were only temporary.

In 1930, international trade prices collapsed, triggering a fall in export earnings and increasing overseas debt. The Bank of England insisted the Australian state, territory and federal governments balance their budgets, cut all overseas borrowing and lower all award wages by 10%. The arms in this picture belong to Sir Otto Neimeyer who threatened the Australian PM Jack Lang to bring up the Australian stock market, so that England would not begin to be affected. He objected, much to the England's anger but the deal was later signed when the new Australian PM James Scullin came into power.

Inflation is the sustained increase in the general level of prices for goods and services in a county, and is measured as an annual percentage change. (Investopedia) During periods of inflation, the prices of products and services will rise. There are several reasons why an economy would see a rise in inflation. Decrease in supplies, corporate deciding to charge more, and consumer confidence are some of the reasons why an economy would see the inflation rate increase. Consumer confidence is when consumers gain more confidence in spending due to a low unemployment rate and wages being stable. Decrease in supplies is when consumers are willing to pay more for a product or service is that is slowly becoming unavailable due to a decrease in supplies. Corporate decisions are when the corporations basically decide

The world had faced two main economic problems. The first one was the Great Depression in the early of 20th Century. The second was the recent international financial crisis in 2008. The United States and Europe suffered severely for a long time from the great depression. The great depression was a great step and changed completely the economic policy making and the economic thoughts. It was not only an economic situation bit it was also miserable making, made people more attention and aggressive until they might lose their lives. All the society was frightened from losing money, work and stable. In America the housing market was the main factor of the great depression. A crisis of liquidity appeared in the banks forming a credit crunch. This period was influenced by over extended stock market shortage of water in the south and over trusting. The American government put down some regulations to control the productions which were essential for the war.

When the Great Depression began, the British Empire suffered for high unemployment and poverty. The empire was still recovering from the Great War and the Depression surprised many government officials. Soon enough, the government took emergency measures to balance the budget and restore confidence in the pound by issuing an emergency budget, which immediately instituted a round of cuts in public spending and wages. Public sector wages and unemployment pay were cut by 10%, and income tax was raised from 4s 6d to 5s in the pound. However, these measures were unsuccessful as unemployment rose and the gold standard dropped.

which caused uneven prosperity. Although the economy was booming in the 1920's most purchasing was done by credit.

Inflation is defined as a sustained increase in the general level of prices for goods and services. what does it mean to me well inflation is when the economy thinks that it is doing good but they make to much on one thing that people don't want to buy no more so they increase the price and that inflation happens.