Cause and Effects of the Great Depression - 4210 Words

The Causes and Effects of The Great Depression In America Few Americans in the first months of 1929 saw any reason to question the strength and stability of the nations economy. Most agreed with their new president that the booming prosperity of the years just past would not only continue but increase, and that dramatic social progress would follow in its wake. We in America today, Herbert Hoover had proclaimed in August 1928, are nearer to the final triumph over poverty than ever before in the history of any land. The poorhouse is vanishing from among us.1 In mid-October, 1929, the average middle-class American saw ahead of him an illimitable vista of prosperity. The newly inaugurated president, Herbert Hoover, had†¦show more content†¦M. Barker, cupidity turned into unreasoning, emotional, universal fear†.9 The misery of the Great Depression was, then, without precedent in the nations history.10 The most searing legacy of the depression was unemployment, which mounted steadily from the relatively low levels experience d 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 Within a few months after the stock market collapse of October 1929, unemployment had catapulted from its status of a vague worry into the position of one of the countrys foremost preoccupations. Unemployment increased steadily, with only a few temporary setbacks, from the fall of 1929 to the spring of 1933. Even a cursory reference to the several existing estimates of unemployment will amply show the rapidity with which unemployment established itself as an economic factor of the first order of importance.12 By 1932, a quarter of the civilian labor force was unemployed and the number was still rising. State and local relief agencies lacked sufficient funds to meet the demands of families for bare sustenance. Discouraged by continualShow MoreRelatedThe Cause and Effects of the Great Depression Essay1443 Words   |  6 Pagescrash 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 theRead MoreCauses and Effects of The Great Depression in the United States1238 Words   |  5 PagesThe Great Depression is a defining moment in time for not only American, but world history. This was a time t hat 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. One cause of the depression is the effects of World War One. World War one had many devastating effects on countriesRead MoreThe Great Depression Of The 1930s Essay1689 Words   |  7 PagesGlobal Crisis of 2008 in Comparison to the Great Depression of the 1930s Introduction The economic crisis’ of the 1930s and 2000s greatly impacted the United Sates (U.S) and the world. The Great Depression and Global Crisis were both major economic crisis’s the originated in the United States and spread to foreign markets around the world. The Great Depression is regarded as the biggest economic downturn, due to many factors like the stock market crash. The Global Crisis on the other hand, was aRead MoreThe Causes of Canadas Great Depression of 1929-1939 Essay1679 Words   |  7 Pagesclosest to him heard. â€Å"It’s all gone.†# The term ‘Great Depression’ according to Kristin Brennan evokes black-and-white images of thin men in threadbare suits and worn-out shoes selling five-cent apples on city streets, of â€Å"grim-faced women lined up three deep to collect bread and milk at relief stations.†# The Great Depression of the 1930s was a devastating time toward many Canadians, where the collapse of the stock market was t he beginning of the Depression, a period of severe economic and social hardshipRead MoreDepression Essay : Depression : The Causes Of Depression893 Words   |  4 PagesDepression Depression affects many people in today’s society for a number of reasons. Depression is a serious disorder, numerous people are affected by it. However, there are places to go that give help that people with depression need. To begin, depression is a disorder that affects a great deal of people. According to Mayo Clinic, â€Å"Depression is a mood disorder that causes a persistent feeling of sadness and loss of interest† (â€Å"Overview,† n.d.). There are many causes to why people have depressionRead MoreMajor Depression And Its Effects On Social Involvement1565 Words   |  7 PagesMajor Depression Depression is one of the most common therapeutic topics. There are many effects that lead to major depression and thus require distinctive therapy methods. It is a mood disorder that is associated with the body, emotions and thoughts (Hoeksema and rector, 2011). In order for a person to be diagnosed with major depression, they must show at least 4 symptoms from any of the 4 categories; such as mood changes, cognitive changes, physical changes, and behavior changes; and must haveRead MoreCauses of The Great Depression Essay701 Words   |  3 Pages Imagine a society where over 25% of the population was unemployed. That is what it reached during The Great Depression (â€Å"The Great Depression†). During the depression unemployment rates were the highest they have ever been. It is highly speculated to this day on what exactly caused The Great Depression. Most historians agree it was a chain of events, one after another, that brought our country into chaos. Some events were more impactful than others. These events caused pandemonium amongRead MoreDepression : Cause, Causes And Effects Of Depression1116 Words   |  5 Pagessweating and dizziness. Anxiety may cause physical exhaustion and general ill health. Effects of depression When someone is found in such a condition the primary effects observed are the various signs and symptoms caused by a particular situation, thought, physical state, emotions or actions which brought about the depression. The effects of depression are mostly observed in the physical state as the symptoms portrays on the person who is in a depressed state. Depression can result into condition whichRead MoreExploring Causes of The Great Depression Essay522 Words   |  3 PagesExploring Causes of The Great Depression Introduction The Wall Street crash of 29 Oct 1929 and the Great Depression that followed were such a shock to most Americans that some early attempts to explain their causes blamed sunspot activity or medieval prophecy. A few held it to be divine retribution on a people who had indulged themselves in a decade of hedonism after World War I and were due for a sobering experience. Others recognized that the 1920s had brought Read MoreThe Great Depression : The Fall Of A Nation1701 Words   |  7 PagesCollin Brunton Ms. Biondi English II 3 March 2015 The Great Depression: The Fall of a Nation The Great Depression was a hard time for America. The name fits like a glove because it was, in fact a depression. The Great Depression was crucial to American history because it changed every aspect of American life, revealed how big a power America was, and it established multiple government agencies around the world to make sure something like it never happens again. The economy was at a highpoint