The majority of people made under 2,000 dollars a year (Document 9) which was considered the bare minimum to live off of, the buy all of the basic essentials. These people didn’t have any money to spend on luxury items and couldn’t buy on credit. During this time, some companies priced their goods at a higher price than the majority of people made in a year, like boats that were priced anywhere from 10,000 dollars to 35,000 dollars (Document 8). With nobody to buy from them, these businesses were left without a profit and began going bankrupt. An average family before the depression with two people working full time jobs only made around twenty dollars a week (Document 7).
The Great Depression by Robert S. McElvaine is pretty straightforward. In the beginning, the book compares the economic crisis of 2008 with the roots of the Great Depression in 1929. He believed that politicians in the twentieth century did not learn their lesson from before. The book also depicts the lives of people during The Roaring Twenties and how the downfall of the economy and overproduction lead to mass unemployment and struggling families. McElvaine’s point of view on the Great Depression was considerably biased. As he points out, “the changing mix of American values in the Depression - was of even more significance than was Roosevelt himself.” What McElvain is trying to express in this quote is that Americans were so unhappy and felt
Did you know the Great Depression was the deepest and longest economic downturn in the history of the western industrialized world?The lowest point for America where the economy was at a severe downfall.The Great Depression started on October 29,1929, ended in 1939.How America was able to overcome the Great Depression was because of World War II and big government military spending that finally broke the depression’s back (Doc.5). In these hard times for America it; was able to sustain itself over the downslide of falling stock prices and when the stock market crashed.The Great depression was one the most difficult time for Americans where there were people in severe poverty and often jobless.The causes of the Great Depression was speculation,
As difficult as the economic crisis of the Great Depression was for white Americans, it was even harder on racial minorities, including black Americans, Mexican Americans, American Indians, and Asian Americans. In 1933 the general unemployment rate in the United States was over 25 percent; at the same time, unemployment rates for various American minorities ranged up to 50 percent or more. Given the severe racial discrimination in almost every facet of daily life in America through the 1920s, it was hard for many minorities to distinguish much difference between the Great Depression and "normal" economic times. Nonetheless, for these groups the Great Depression was worse than "normal" economic hardships they had suffered.
And when the depression hit, blacks were hit the hardest; when Roosevelt took office, over 50% of blacks were unemployed because the blacks, who typically worked low-skill, low-paying jobs, had their jobs stolen by desperate whites.
This book seemed to give a great detail of the time period of the Great Depression and the impact of it. The author, Shlaes seemed very bias toward her opinion as she stated, “all the changes brought by the New Deal meant that the United States seemed a less reliable place” (Shlaes 336). She did not seem to like Roosevelt and the New Deal, but nevertheless, she seemed to give a great detail of the impacts of the Great depression on American life and how it changed their values and also how it impacted the American
Along with businesses, homes where degraded to almost nothing and with the desperation of the people inside them, things weren’t much better. People where scouring every nook and cranny to at least find a penny. The wages where so low a penny was worth much more than they are today(https://en.wikipedia.org/wiki/Great_Depression). People were willing to do almost anything to get their hands on some form of payment. Most were selling everything they owned to be able to survive
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.
The percentage of Americans that were losing jobs was outrageous “25 percent of all workers and 37 percent of all nonfarm workers were completely out of work. ”(Great Depression) and that only increased. The people moved and were kicked out of their lands feed to find work elsewhere but work was scarce and was no where to be found. The african americans also had a harder time finding work as the whites were given unfair priority. Their was a substantial gap between the rich and the poor and the poor was the lowest percentage of people in the Americas.
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.
The poverty line in 1929 was considered to be an annual income of at least $2000. Most people,at the beginning of 1929, were making that and living happily. But, according to Frederick Lewis Allen’s, The Big Change, the US distribution of income was so uneven that 60% of the population was living in poverty. (Doc. 9). With over half of the country living in poverty, businesses had to lower prices and that caused the businesses to lose money and lay off workers, leading to even more impoverished families.
The longest and most dreadful downturn in economic history tossed millions of the hardworking people of America into poverty, for more than a decade neither the federal government or the free market were able to restore themselves from prosperity. Due to the Great Depression, an impetus was provided for President Franklin D. Roosevelt’s New Deal, this deal would forever change the relationship between the government and the American people. The New Deal was considered to be one of the most remarkable times of political reform in American history. In hindsight, it began to become easier to view the New Deal as the essential response to the Depression. However, the New Deal at the time was only one of the countless possible responses to an American capitalist system that had professedly lost its way.
The Great Depression was a time period in the United States from the late 1920s to early 1940s, marked by severe unemployment rates nationwide. It had many origins, most notably of which was the Stock Market Crash of October 29th, 1929, also known as “Black Tuesday.” The administration of Franklin D. Roosevelt addressed the crippling unemployment and poverty rates of the Depression by establishing federal work programs to provide much-needed jobs to millions of Americans. Overall, however, this response was only marginally effective, because there was still rampant unemployment and discrimination throughout the duration of these programs. Through the establishment of these programs, the role of the federal government changed from a capitalist
During the Great Depression, life wasn’t easy. Many farmers lost their farms (about.com) and many familes lost their savings as the numerous amount of banks collapsed in the early 1930s. Because these familes could to not pay for rent payments or mortgage, they were forced out of their homes or were evicted from their apartments. Unemployed and underemployed male heads of the familes founded the depression to be extremely difficult, because in thraditional concepts, the men were the providers of the familes.
The Great Depression of 1930s, was the deepest and the longest-lasting economic downturn in history. About 273,000 families were homeless and had to live a nomadic life, working in ranches hunting for food and money. During this huge crisis of the world, prejudice and segregation was clearly noticeable in the ranches. Compared to the white people, the situation was much more worse for the African-Americans. They were treated with the least respect and dignity and were isolated from others.