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The Great Depression : A Time Of Dramatic Change

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The Great Depression is one of the most iconic time periods in United States and World history. The images of famished farmers in the country and unemployment lines in the cities are thoroughly taught. Decades later these memories teach Americans how far an economy can fall and what Americans can accomplish when faced with adversity. However, the reasons for The Great Depression are not as thoroughly taught, as historians and economists still fiercely debate them to this day. Having said that, there are conclusions that can be drawn from events that preceded The Great Depression, obviously. Studying the electric decade that preceded the Depression, the appropriately named “Roaring 20’s”, gives us a look into the factors, in addition to the …show more content…

Many people bought expensive luxury items using money they did not have”

 Carroll, Sarah. "Causes of the Great Depression." Causes of the Great Depression. Accessed April 28, 2015. http://econc10.bu.edu/Ec341_money/Papers/Carroll_paper.htm.

. Debt began to pile up for those not worried about paying it back, as they were just enjoying the changing culture and the new toys they now have to play with.
In addition to city folk using money they did not have to buy new toys, farmers out in the countryside also too kindly to the new technology and credit. As the demand to feed soldiers during World War 1 and the booming population grew, plans to increase food production were made. As a result, efforts to develop new technology to aid farmers were executed. In 1923, the Harvester Farmall tractor became the first all-purpose tractor, replacing animals with machines.

 Janick, Jules. "Agricultural Scientific Revolution: Mechanical." Hort.purdue.edu. Accessed April 28, 2015. http://www.hort.purdue.edu/newcrop/hort_306/text/lec32.pdf.

As their fellow Americans did with radios and automobiles, farmers paid with credit. However, that is not the only consequence of the new farming technology. Land that was previously used to house animals was now being used for food production, and food production skyrocketed with the more efficient machines. As a result, the cost of food plummeted around the country. With the cost of goods free falling, farmers were unable to make back the money

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