ipl-logo

The Great Depression: An Economic Downfall

1218 Words5 Pages

Home
The Great Depression:A Conflict Over An Economic Downfall
THE GREAT DEPRESSION CAUSED EXTREME POVERTY AND JOB LOSS THROUGHOUT AMERICA DURING THE 1930'S. THIS ECONOMIC DOWNFALL LED TO THE ABANDONMENT OF THE GOLD STANDARD, FDR'S NEW DEAL PROGRAMS, AND AN INCREASED SIZE OF THE FEDERAL GOVERNMENT. ALTHOUGH THESE METHODS HELPED COMBAT THE DEPRESSION THE UNITED STATES WOULD NOT GET OUT OF THE DEPRESSION UNTIL WWII.Sophia Bosi Junior Division Individual Website Total Words On Website:1,035 words Process Paper: 367 words
Before the Depression
The government before the Depression
Before the Great Depression, the average American had little contact with the federal government besides the post office. The policies and actions of the Federal government …show more content…

The Great Depression was an economic slump in the 30's. During the Depression the unemployment rate was extremely high, a lot of America was in poverty and many banks were failing. This conflict affected almost everyone in some way. throughout the Depression around 9,000 banks failed and in the year 1933, which was the worst year for the Depression, around $140 Billion dollars were lost through bank failures. Many things were done to help combat the Depression such as abandonment of the gold standard, FDR's New Deal programs and and increased size of the Federal government.
Events that led to the Great Depression
The main event people think of is the Stock Market crash of 1929. The stock market crash was one of the major causes of the Depression. Within two months of the crash stockholders lost more than $40 billion dollars. During the 1930s over 9,000 banks failed. People lost their savings due to the bank deposits being uninsured. Banks that hadn’t failed almost completely stopped giving out loans. One event that led to the Great Depression that was not a direct cause was the Dust Bowl that occurred in the Mississippi Valley was so large that people could not pay their taxes or other debt they had, which caused them to have to sell their farms for no profit for themselves. People also stopped purchasing items which led to a reduction in the number of items being made and a cutback on staff. The unemployment rate rose 25% which resulted in even less

Show More
Related

  • What Caused The Great Depression Dbq Essay

    383 Words  | 2 Pages

    The Great Depression was an economic crisis that took place all over the world during 1929-1939. America and other nations were not prepared nor expecting this. Before it hit, stocks were high, businesses were thriving, and jobs were full. This event made the Roaring Twenties turn into one of darkest times in American history. The Great Depression was mostly caused by speculation/installment buying, banking, and unemployment.

    Read More

  • How Did The Great Depression Affect The Economy In Canada

    930 Words  | 4 Pages

    The biggest issue was the downturn in businesses, with the economy already being at a low because of the stock market crash taking place. The Great Depression started with the major stock market crash that first took place on October 24th, 1929. This crash was not as major as the ones that were to follow because the stockholders were

    Read More

  • New Deal Dbq Essay

    564 Words  | 3 Pages

    The wealth during the 1920s left Americans unprepared for the economic depression they would face in the 1930s. The Great Depression occurred because of overproduction by farmers and factories, consumption of goods decreased, uneven distribution of wealth, and overexpansion of credit. Hoover was president when the depression first began, and he maintained the government’s laissez-faire attitude in the economy. However, after the election of FDR in 1932, his many alphabet soup programs in his first one hundred days in office addressed the nation’s need for change.

    Read More

  • What Caused The Great Depression Dbq Essay

    726 Words  | 3 Pages

    In 1929, the U.S. was hit with the worst economic crisis in the history of the country, the Great Depression. The Great Depression left millions of people unemployed and cost millions their life's savings. The Depression lasted for ten long years for the American people. Since the Great Depression ended, people have studied it, trying to figure out what happened that started it all. The problem was, in fact, the poor economic habits of the people at the time, such as speculation, income maldistribution, and overproduction.

    Read More

  • Inaccuracies In Cinderella Man

    1483 Words  | 6 Pages

    The Great Depression was the worst economic downturn in the history of the world. It began in the United States when the stock market crashed in October 1929. Everybody was sent into a panic and millions of investors were wiped out. Unemployment levels began to rise after consumer spending and investment dropped, while stock prices continued to increase. Companies started to lay off their workers, and soon nearly thirteen to fifteen million people in America were without jobs.

    Read More

  • America During The Great Depression

    465 Words  | 2 Pages

    Many businesses and factories were forced to close because their stock was worthless, this caused the unemployment number to skyrocket. Many banks also closed because they had no money, and most of the people who invested in them lost the money they invested. In addition, The Great Depression had a great impact on Americans. In the fall of 1930 the first of four bank runs occurred.

    Read More

  • The Great Depression Research Paper Outline

    502 Words  | 3 Pages

    The Great Depression The Great Depression was by far one of the worst times of America’s history, and the world’s history. The Depression affected everyone except for the politicians and the wealthy. During the depression a lot of people lost their jobs which caused the unemployment rate to sky rocket to 14% of America’s population was unemployed, and the number would stay their till World War 2, and the depression started in the 1920’s. Middle class workers were hit the hardest in the depression. Most of the middle class citizens lost their jobs.

    Read More

  • What Contributed To The Great Depression

    428 Words  | 2 Pages

    The Great Depression started because of The Stock Market Crash of 1929. There was overproduction and spending dropped. When the stock market crashed, people panicked and everyone tried to withdraw from the market. The banking system could not handle everyone taking money out at one time and crashed. Even those who did not invest in the stock market had their savings erased.

    Read More

  • The Great Depression: Turning Point Of The United States Economy

    655 Words  | 3 Pages

    The Great Depression was a major turning point for the United States’s economy because it changed the relationship between the government and the economy. Before the Great Depression, the economy was a Laissez-faire style market where the government had no influence on private party transactions and businesses. After the Stock Market Crash of 1929, the people of the United States sought for reliefs from the government. The Government responded by creating tax reforms, benefiting the stock market, wheat prices, employment, and the number of bank suspensions, and providing comfort for the people. As a result of their disparity, the people put their trust in the government in hopes that they would repair the broken economy.

    Read More

  • What Are The Underlying Causes Of The Great Depression

    585 Words  | 3 Pages

    America had experienced other depressions or “panics,” but none were like the Great Depression. The Great Depression began on October 29, 1929, Black Tuesday, with the stock market crashing. Most people believe that the cause of the Great Depression was the stock market crashing. Although that is what triggered the Great Depression there were many underlying causes that lead up to the stock market crashing. Some of the underlying causes include under-consumption/over-production, uneven distribution of wealth, loose banking and corporate regulations, tariffs policies, and the stock market.

    Read More

  • How The Life And Spirit Of The Average American Change From The 1920s To The 1930s

    978 Words  | 4 Pages

    The Great Depression impacted American workers and the economy by a lot. There was no work because they did not have the money to pay the workers. The banks had a huge crash to. People were rushing to the bank to money out of it but there was no money to get out. Banks started to fail and didn't even have a penny to give out.

    Read More

  • What Caused The Great Depression Research Paper

    780 Words  | 4 Pages

    There were a variety of causes that caused the Great Depression, but the main cause that started it was a decrease in spending. This led to production decrease because manufacturers and merchandisers did not want to have unused items just sitting on the shelves. In October of 1929 the stock market crashed. The United States stock prices had reached levels that could not be justified by sensible predictions of future earnings. The results of this were catastrophic.

    Read More

  • Thesis Statement: The Great Depression

    765 Words  | 4 Pages

    If you got lucky and did not get fired the wages fell and the buying power increased. The americans that were forced to buy on credit fell into debt,and the numbers of repossessions and foreclosures increased steadily. The gold standard fixed currency exchanged around the world, and helped spread economic distress from the U.S. through the world.7When the country elected Franklin D. Roosevelt he promised he would create federal government programs to end the Great Depression.8 The federal government programs allowed people to get more jobs and help the economy increase. Roosevelt was a big influence during this time period and impacted many people, giving jobs to citizens and boosting the economy. After Franklin Roosevelt created the federal government programs it allowed the economy and society to grow and strength from the unlucky situation.

    Read More

  • Causes Of The Great Depression Essay

    750 Words  | 3 Pages

    The first cause of Great Depression was bank failure. It was one of the main causes of the Great Depression. Throughout the 1930s over 9000 banks failed. In 1920s there were a lot of banks.

    Read More

  • What Caused The Great Depression

    289 Words  | 2 Pages

    One cause of the Great depression was the crash in the stock market in October 29, 1929. This was a major reason on the start of the great depression because so much people had so much of their money in these stocks and when it crashed some major whiplash came in and sweeped through all these major buisnesses. Some of these buisnesses and companys included some of the biggest banks which took away peoples life savings and saved up deposits. Thats when most people began to face poverty and depression. After some of these banks shut down and faced bankrupcy companys were losing money because the people that would buy their products didnt have any money anymore.

    Read More

More about The Great Depression: An Economic Downfall

Open Document