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The Great Depression: Reform, Relief, And Recovery

957 Words4 Pages

The Great Depression in the United States spurred in 1929 and was the economic deterioration of the United States, where there was a high unemployment rate and many citizens were living in poor conditions.. It was caused because the stock markets and banks failed; and many companies went bankrupt. People were buying on margin so no one had any money to spend and when the stock market crashed, everyone lost their money and spurred the Great Depression. They could not invest in businesses and banks could not loan out money so businesses failed and the economy crashed. During this economic failure, president Herbert Hoover did little to nothing to improve the economic status of the United States. He believed in rugged individualism, the economy had regular cycles and will fix itself, and voluntary cooperation, in which people and businesses will cooperatively work together. These three beliefs led to Hoover not doing anything for the economy and leaving it be. When Franklin D. Roosevelt took office, he implemented the New Deal. This was a series of programs that were created to “try anything” to save the economy. The New Deal consisted of three main principles: Reform, Relief, and Recovery.

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