Scotland's Rural Economic Crisis

In the 1929 and 1940 The Great Depression in history millions of people were out of work or they will soon to be out of one. It didn’t matter if you were Black , White HIspanic or Asian you will still would be unemployment even if you were really rich. Everything was crashing down there wasn’t jobs for people. Many banks failed then markets did as well.

Consequently, Keynes brought clarity to the subject of the Great Depression and unemployment, his argument suggested that unemployment may not be a temporary condition that the system could naturally recover. Keynes believed that unemployment could in fact reach equilibrium. In this article the Depression was seen as a condition of unemployment brought about a

The Depression was a gruesome time where people had worked relentlessly to survive. Unemployment today is as severe as it was in the 1930s, the unemployment rate of today is nowhere near the unemployment of the Great Depression. A pair of economists with the Federal Reserve Bank of Dallas created report called “A Historical Look at the Labor Market During Recessions”. The report is a graph of the WWII Recession, showing that the unemployment rate of a few years ago has past the unemployment rate of the WWII Recession. In 2008 the authors wrote the Unemployment Rate, it’s a report that describes the recessions of the past to the years of 2006 to 2011. The most of the recessions are above or near the average, but the highest recession is the Great Depression.

Meanwhile, There was not just one cause to the unemployment there was three. The first one of the main cause was there was not a healthy economy. The healthy economy was going down dramatically. The economy was what made people lose their jobs because there was no money they were getting from it and why have a job when you can't get any money.Also, because the bosses of the job let go the workers because they couldn’t pay then anymore. The Second cause of the unemployment was that there were huge bank failures. The bank was getting too many loans from people so they were running out of money. If people had their savings in the bank, they lose it because of all the loans. The third and final causes of unemployment was it brought conditions in the 1930 it was such proportional and that mini cooper did not even pay for their taxes. I would say all three of these causes were all political, economic and sociological because they all had to do with the people and the

Beginning with unemployment in the 2007-2009 recession, U.S. unemployment rates peaked at 10% as well as held 41 consecutive months at rates higher than eight percent (Lazear 1). The U.S. economy plummeted during this time; many attributed the shift to a large decrease in the number of employed workers. To be able to better understand the unemployment issue, we must first examine the form of unemployment faced by the U.S. economy. Many believe that the changes faced by the U.S. labor market

Everyone was affected during The Great Depression, however not everyone was affected the same way. Many of the rich felt no impact and were oblivious to the sufferings of others around them. Forty percent of the country never faced any hardship and the unemployment rate fell below fourteen percent in 1941 and in 1933, Toledo, Ohio’s had reached 80 percent, and nearly ninety percent of Lowell, Massachusetts was unemployed.

The most searing legacy of the depression was unemployment, which mounted steadily from the relatively low levels experienced between 1922 and 1929. The percentage of the civilian labor force without work rose from 3.2 in 1929 to 8.7 in 1930, and reached a peak of 24.9 in 1933. The estimates of unemployment amongst non-farm employees, which include the self-employed and unpaid family workers are even higher. These are horrifying figures: millions of American families were left without a bread-winner and faced the very real possibility of destitution.11

After the WW1, land prices and food dropped so low it was hard to make little to any money at all. Many farmers had a hard time paying

The agriculture sector suffered as well, with the expansion of farms during WWI, tools, and the latest equipment was purchased, causing the price of food to raise. Farmers also borrowed money for their growth and when people wasn’t buying the over priced vegetables, meats and fruits. The financial institutions foreclosed on property and capital equipment.

Unemployment of wage earners due to sickness probably contributed to the loss in income of certain families. However, analysis by others of this data have shown this to be a relatively unimportant factor because those unemployed due to sickness were not concentrated among the poor. The depression could also be considered sifting process as it separated the fit from the unfit. Most often, the men who kept their jobs were, on average, more vigorous, capable, and intelligent than others who lost their jobs and lost their incomes. Those who lost their jobs were less efficient than those who remained

Since the early 2000’s the unemployment rates of the United States have been constantly changing. For most of this time unemployment rates were increasing at a quick pace as the country was dealing with internal financial issues of its own. When people are out of work the rates of depression and crime seem to skyrocket. This is due to the lack of funds coming into a home which result in some less than admirable acts being committed. There are many causes of unemployment and many effects that unemployment can have on not only our economy, but our personal lives as well.

One quarter of Irish land was unused but unavailable for farming by the Irish. The Woollen, Poplin, Linen and Furniture and Glass industries disappeared. Fishing was reduced due to a lack of capital for boats and storage; “Free trade” caused sixty percent unemployment. In 1829 The Duke of Wellington wrote “There never was a country in which poverty existed to the extent it exists in Ireland.”

As non-European companies raised the standard of competition, the prices likewise fell and the market for many European products collapsed. This directly affected the employment rate throughout Europe in many of the industries, as many jobs were no longer needed. As this need declined, labor began to demand the retention of jobs, wages, and benefits, making labor more costly (Drouin,12). The unemployment rate in Europe went from 4-5% in the 1950-60s to 10-12% during the 1970-80s (Dr. Shearer - lecture). For example, after World War II the mining workforce in the UK fell from 718,000 to 43,000, with the majority of the jobs lost during 1975-85 (Judt, 459). The steel industry also suffered. As non-European countries entered the market, the European steel industry collapsed. For example, British steelworkers lost 166,000 jobs between 1974-1986 (Judt, 459). As unemployment increased throughout Western Europe, there was a movement towards the service sector.

The United Kingdom finished World War I a few years prior to the Great Depression, and was a big factor in the length of the depression. The reason why the U.K’s depression’s length was so long was because of the debt that the European countries had grossed during World War I. This debt that had to be paid, left the Europeans in a sticky situation, as they tried to rebuild their economy to what it once was. The effect of this debt and other economic problems had caused the unemployment rate to accelerate from one million to 2.5 million unemployed UK citizens, some cities even reached rates from as high as 70%. When other countries received the hit from the depression, Britain couldn’t export nearly as much as they used to. This was a chain reaction that caused the world to be effected as a whole, and what caused Britain to get hit so strongly. Great Britain didn’t use their Government revenue expansion very strongly to an extent, however later on did increase the

Unemployment has always been something that Americans have worried about since the great depression in which one in every four people was unemployed. High unemployment has an impact on every one even those whom are still currently employed. For example if the unemployment rate is particular high then even those with jobs get worried. Unemployment is also separated in to distinct categories base on which group is the focus of the study. The categories can be by race, age or location, for example the unemployment rate of those between the age of sixty and sixty-five could be compared those between the ages of thirty and thirty-five. These categories allow economist to see which groups are the best and which groups are worst off. One group