The Extent to Which Poor Economic Management of the Great Depression Impacted Australia from the 1920s to 1930s

Australia suffered significantly during the Great Depression of the late 1920s. Australia was one of the worst effected countries in the World. This essay will look at why Australia lead the world into Depression in the late 1920s and why it suffered from it's effects for so long. A depression is defined as "A period of drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and unemployment." 1 During a depression money becomes limited which in turn leads to businesses going bankrupt and causing workers to lose their jobs. This usually leads to a downward

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 Great Depression started in 1929 and lasted up until 1939. It happens to be the worst economic downturn for the United States and the the rest of the world. It caused companies and corporations to eventually go bankrupt as well as workers to be laid off. Another effect of The Great Depression is that factory production was reduced, and the banks started to shut down. In the lowest point of The Great Depression in 1933 nearly 15 million workers in America were unemployed and one half of the banks started shutting down.

The Great Depression was an economic collapse that began in 1929 and ended in 1938. During the Depression most citizens went through hardship .Three main causes of the Great Depression were the stock market crash of 1929, the Dust Bowl, and Bank failures.

Transport
There was a very significant argument in favour of Australia having a federal government, which was the need for a uniform railway system. In the late 1800s progress was restricted in the colonies for having a different railway gauge. The colonies were operating independent of each other, whilst the railway systems were built. They faced a problem when there was a need to integrate and connect the tracks (for example from Victoria to New South Wales) when the gauges were of different lengths. This meant that trains could not cross colonial boarders, which ultimately would have restricted the main way of transporting people and goods on land from colony to colony. It was a great inconvenience when people had to change trains at the border of each colony.

The Great Depression was caused by the stock market crash in 1929. The Great Depression was very sad time for Americans, who faced many adversities which ultimately changed the way they lived. During this period of time unemployment rose to nearly 25% of the population, those who did not lost their job saw a dramatic decrease in their pay.

The great Depression was a major crash in the history of the United States. The crash of the stock market in October 1929 was the significant cause of the great depression. People began to panic and big businesses were not able to handle the outcome. As a result, many companies dismissed workers, which left the workers with no money. People halted to purchase goods and businesses were running in loss. Furthermore, after the world war one, many European nations owed huge amount of money to the United States. The economy of these nations was shattered and had no way of paying back the

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,

Great Depression. The deepest longest-lasting economic downturn of the history of the western industrialized world. Began soon after the stock market crash of October 1929 (Black Tuesday) which sent wall street into a panic and wiped out millions of investors. Roosevelt was sent in to office replacing Herbert Hoover, a possible cause of the Great Depression, for twelve years or three terms.Though the time was devastating the positive outcomes like the automobile improvement and other improvements still last to this day. Although discrimination was a problem employment was increased so the New Deal was helpful for the problems of the great depression.

One of the earliest effects of World War One on Australia, was the government's termination of trade agreements with Germany and Austria-Hungary. Australian firms benefited from this, as they received contracts that had previously been given to German rivals - and fortunes were readily available. In 1915, no wheat was available to Britain from Russia and there were poor crops in North America. As the government was keen to make sure that Australian wheat, wool and meat was readily available for Britain to help the war effort, they passed a law giving them to take the whole wheat and wool harvests from Australia. This lead to Britain buying the whole refrigerated mutton and beef supply for the rest of the war and whole wool clippings bought at 55% above pre-war values. The shortages and war

The Great Depression was a dreadful worldwide economic depression that occurred in the 1930s and it was the most profound and longest depression in the American History, which lasted from 1929-1939. Although the Great Depression began soon after the crash of the stock market in October 1929, it is too straightforward to say that that was the major cause of the Great Depression. This crash did not by itself cause the Great Depression. Even before the year 1929, signs of economic trouble had become evident. (Give Me Liberty! An American History, 5TH Edition, Eric Foner, Pg 811).

Throughout the time of the Great depression many people were homeless and unemployed. It was caused by enormous growth of goods and prices of shares in the United States during 1920s. Companies were producing more products than they could sell, while most Americans could not afford it because they were too poor. Also investors borrowed money from banks to buy shares so they could sell them for quick profits when prices rose. In 1920s this caused share prices reached unrealistic amounts and when investors lost confidence they rushed to sell shares, prices collapsed. Results in this huge fall meant demands for goods vanished and people were left unemployed and banks closed while poverty spread. Australia also was affected because Australia owed a large and increasing amount of interest to overseas lenders. Many works were left unemployed and in 1932 employment rates were 29.0. A picture of an Australia family can be seen on page 16 source 4 of History alive. The family was living in a shantytown which was built on wastelands. Improvement came slowly after August 1932, but this was manly to do with the recovery of the world economy than government policies that were enforced. The Great Depression was a world event that effected most nations as America is the head of the

The Great Depression was an economic downturn event that took place in history during the western industrialization world. The United States of America began the Great Depression soon after the stock market crash of October 1929. Furthermore, it sent the Wall Street into a panic and wiped out millions of investors.

The Great Depression of the 1930s was the economic event of the 20th century. The Great Depression began in 1929 when the entire world suffered an enormous drop in output and an unprecedented rise in unemployment. World economic output continued to decline until 1932 when it clinked bottom at 50% of its 1929 level. Unemployment soared, in the United States it peaked at 24.9% in 1933. Real economic output (real GDP) fell by 29% from 1929 to 1933 and the US stock market lost 89.5% of its value. Another unusual aspect of the Great Depression was deflation. Prices fell 25%, 30%, 30%, and 40% in the UK, Germany, the US, and France respectively from 1929 to 1933. These were the four largest economies in

The Great Depression was a severe worldwide economic depression) in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s.[1] It was the longest, most widespread, and deepest depression of the 20th century, and is used in the 21st century as an example of how far the world's economy can decline.[2] The depression originated in the United States,