The Great Depression And Its Effects On America

2001 Words9 Pages
The Great Depression was an incredibly dull time in the historical backdrop of the United States, impacting all the financial assets of the American lifestyle. The Great Depression shattered the financial status of the United States. President Roosevelt has been known for sparing the U.S out of the financial turmoil it found itself in from the Great Depression. The causative components of the Great Depression are still up for debate by many students of history and economics. For some individuals, the period’s decline is credited to the stock market crash of 1929. The Great Depression started in 1929 and went on until 1939. This monetary collapse influenced Western industrialized economies but its effects ranged across different countries. The Great Depression started in the United States, which unfortunately encountered the worst repercussions. Conversely, many contend that the Depression began about 10 years prior in Europe however the United States foreseen that it was insusceptible to such a recession. Thus, the American government around that time did not generate laws to guarantee that the nation did not encounter the same collapse as Europe. The most important causes of the Great Depression were the stock market crash, bank failures, environmental disasters, and international trade. This paper should examine the possible clarifications of the Great Depression and its impact. The premonition of the end of scarcity became known as the American Dream; yet, this
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