The Great Depression And Its Effects On America

The Great Depression not only affected America, but the rest of the world as well. This global depression began in the United States in 1929 but would soon play an important role in why countries turned inward to economic independence and lead to the rise of communism. The 1920’s had Americans living in great prosperity. Consumers ruled the marketplace, buying as much as they could afford, even spending tomorrow’s wages today. Companies were about to face the grim reality that they were producing more goods than they were able to sell. People simply did not have the money to buy all these products and everyone instead began to invest their money in the stock market. In October of 1929, the stock market collapsed in America which soon would lead to the “domino effect” in Europe.

Following an era of economical prosperity, the Great Depression, otherwise known as the ugliest sister of the 1900’s family, which lasted an entire decade from 1929 to 1939, began on a fateful day with the New York Stock Exchange abruptly crashed and was unable to recover quickly. This occurrence, of course, had an unforgivable effect on the economy, leading to one of the most memorable and significant eras in American history. Not only affecting the economy domestically, internationally trading was burdened by the limp leg that was the United States. Socially, people were struggling to regain their balance after a main income source –agriculture- was swept away by the Dust Bowl, only worsening the drawn out effects of the initial Wall Street crash. Politically, the US faced severe turmoil with presidency of Herbert Hoover due to a lack of action to prevent economic decay and promote domestic and foreign recovery. Needless to say, after one presidential term, Franklin D. Roosevelt was elected into office and soon passed the New Deal, a highlight in his presidential career. However, due to the previous president, there were several critics about the nature and efficacy of such a policy. The Great Depression was a time of discussion and criticism of political policy and the nature and efficacy of said policy in dominating the backfire of grand economical proportions within the United States alone.

There was a steel mill company created in the 1900 in Gary by a president of the United States name Elbert H. Gary it was named after him. The steel started getting popular because everyone nationwide was using it to build railroads and homes. There three things they used to make steel such as iron ore, limestone, and coals. There was variety of coals that was used but the only one they use was called coke they had to burn a fuel that turned into coke. In order for them to make it, they had to make the coke burn at an extremely high temperature so they can produce it to melt big quantity of limestone and iron ore.

The Great Depression is probably one of the most misunderstood events in American history. It is routinely cited, as proof that unregulated capitalism is not the best in the world, and that only a massive welfare state, huge amounts of economic regulation, and other Interventions can save capitalism from itself. Among the many myths surrounding the Great Depression are that Herbert Hoover was a laissez faire president and that FDR brought us out of the depression. What caused the Great Depression? To get a handle on that, it's necessary to look at previous depressions and compare. The Great Depression was by no means the first depression this country ever had, but it was clearly the worst. What made it different than the rest? At the time

If one asks most Americans their opinion about when our nations’ economy crashed the most severely, they would most likely say the period between October 1929, until 1930 when the United States went through the great depression. The great depression was a time where people lost nearly everything, from houses and farms, to families and children. People were starving and left out in the cold. The worst part about this was that once people lost their belongings, they were gone forever. In the 1900’s there weren’t many programs to help the public such as health insurance, welfare programs, or unemployment. All the money that individuals had saved throughout the course of their lives, and deposited in to banks was gone.

The Great Depression was one of the most disastrous events that negatively impacted America’s economy, and was triggered by the crash of the stock market. One long term cause of the Great Depression would be the Dust Bowl. The Dust Bowl caused the prices of many foods to decrease in price rapidly, and farmers had to give up their jobs due to the dust storm. This was one of the causes of the Great Depression because it made farmers unemployed and deprived of money. Another cause would be the banks because no one trusted the banks and did not lend them any money. Since people did not loan money to the bank, the banks in turn was not able to loan others money when they were in need of direct relief, causing many to become unable to support themselves. Herbert Hoover was elected in 1928, beating Al Smith in the election. Three things he believed in was that the economy had natural cycles, how he believed in a theory of rugged individualism, and had a wait and see approach. Therefore, he believed that the economy would eventually fix itself back to its original state before the depression, but that was an unrealistic approach. Hoover also believed in rugged individualism, so he did not create any programs to give direct relief to the citizens who needed help. In the end, Hoover prolonged the Depression by not acting quickly and not providing help to others, especially the unemployed. FDR got elected in 1932, and he on the other hand, acted quickly to restore public confidence. He

“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

The Great Depression was a big time period in history that affected a lot of things in people’s lives. It was in the 1929 when the stock market crashed and it spread to Europe as well. The Great Depression lasted a long 11 years and the US started getting better in 1939.

The 1920’s was a very prosperous period for many Americans. Food production increased 64 percent, worker productivity increased by 40 percent, electricity sales doubled, fuel consumption more than doubled, and pay was increased for many industrial workers (Davidson, 2008). With the soaring economy and new items hitting the shelves all the time, American consumers were living the high life. Even if you wanted something and did not have the money you could simply get it on credit and pay for it later. After all, the economy was showing signs of immense economic prosperity with productivity at an all time high what could go wrong. Construction soared with the building of new skyscrapers, suburbs, and road construction.

The beginning of the Great Depression can be accredited to the crash of the Stock Market on October 29 1929. The 1920’s had been a strengthening economic era, prices had stayed the same in all areas except one, the stock market. By the fall of 1929, U.S. stock prices had reached levels that could not be justified by reasonable anticipations of future earnings

The United States has been through many wars and confrontations with other countries since its founding in 1776. Many lives were lost and many names forgotten. World war two was one of those wars. “The good war” as they called it, was a fight that was fought between the leading powers of the world. The First World War ended only 21 years prior to the beginning of this war in 1939. The citizens of the United States were set on not entering another war and losing more family and friends.

The Great Depression was a tremendous downfall into the economy it also had a long lasting effect on society today. The Great Depression happened because stock markets crashed which sent millions of people into distress about their income on how they're going to feed their families. The Great Depression was an economy downfall meaning that people couldn’t have jobs or they're losing jobs and people had to find work in order to feed their families. We have learned to watch for warning signs to prevent another depression.

Many people speculate that the stock market crash of 1929 was the main cause of The Great Depression. In fact, The Great Depression was caused by a series of factors, and the effects of the depression were felt for many years after the stock market crash of 1929. By looking at the stock market crash of 1929, bank failures, reduction of purchasing, American economic policy with Europe, and drought conditions, it becomes apparent that The Great Depression was caused by more than just the stock market crash. The effects were detrimental beyond the financial crisis experienced during this time period.

America’s Great Depression is believed as having begun in 1929 with the Stock Market crash, and ending in 1941 with America’s entry into World War II. In order to fully comprehend the repercussions and devastating effects of the Crash of 1929, it is important to examine the factors that contributed to the catastrophic event which led to The Great Depression. The Great Depression was the worst economic slump in U.S. history, and it spread to most of the industrialized world. Many factors played a role in bringing about the depression; however, the main cause for the Great Depression was the combination of the greatly unequal distribution of wealth throughout the 1920s, and the

The Great Depression is a defining moment in time for not only American, but world history. This was a time that caused political, economical, and social unrest. Not only did the Great Depression cause a world wide panic, it also caused a world wide crisis unlike any before it. This paper will analyze both the causes and the effects of the Great Depression in the United States of America.