For example “millions of German workers out of a job”1, suggesting that the Great Depression was indeed a catastrophic event to the Global economy. This source also suggested how the Great Depression spread to Germany. The reasoning behind this was the “Dawes Plan”1. This was a financial plan between America and Germany, giving financial support to Germany to pay its reparations for the war. However when the Great Depression hit “Americans immediately calling in foreign loans”1.
Hoover V. Roosevelt Starting in October of 1929, lasting a decade, The Great Depression striked. This was a global economic crisis that originated in the United States. This caused many Americans to lose their jobs, houses, and hope. The President of the United States hoped they could fix this crisis that was caused by greedy people and greedy banks. The two presidents that were in office throughout the Great Depression was President Herbert Hoover and President Franklin Roosevelt.
Following the conclusion of World War I, countries in Europe struggled to rebuild their war-shambled economies and societies. On the other hand, WWI had seemingly ushered in a new era of prosperity for the Americans. The 1920s, better known as “The Roaring Twenties,” transformed and shaped modern-day American society. However, under the glittering facade of prosperity and fortune, the US economy began to decline as a series of internal failures threatened to undermine the nation. While many believe that the unprecedented crash of the stock market on October 29, 1920, better known as Black Tuesday, was the cause of the dramatic economic downturn of the century, long-term causes contributed highly to the impending catastrophe.
His book “General Theory” was written during the period of great depression and was mainly the product of his prolonged study of unemployment in Britain. The post World War II era witnessed abrupt changes in the area of economic development. Basis of state intervention in the economy Keynes pointed out that the state intervention was necessary to deal with the ups and downs in the economy which we called trade cycles or business cycles. He believed that the only way to put demand for goods and services up and running was with the help of government spending so as to put money into the private sectors. The US president Franklin Roosevelt gave this a try in his massive public works
Literature Review Great Depression and Americans After the Wall Street Crash in 1929, affected by the direct influences of the stock market and the entangled relations between European countries, Americans were facing a severe economic broke down in their country. People were living a hard time, for instance high unemployment, which led to lack of money, furthermore starvation and illnesses and so on. On the other hand, arts or literature were always the media that people used to express their views, feelings, comments and hope towards issues, therefore, during the Depression, arts and literature ironically "blossomed". This essay reviews two sources, Dancing in the Dark by Morris Dickstein, a book with fruitful examples of how literature
Its social and cultural effects were no less astounding, especially in the United States, where the Great Depression represented the harshest adversity faced by Americans since the Civil War. The Great Depression is often called a “defining moment” in the twentieth-century history of the United States. Economic historians usually point the start of the Great Depression to the sudden devastating collapse of US stock market prices on October 29, 1929, known as Black Tuesday. Some dispute this conclusion, and see the stock crash as a symptom, rather than a cause of the Great Depression. It was an ordinary recession in the summer of 1929, when the Great Depression began in the United States.
The critical problems in the late 1920’s, threatening american economy was the older industries such as textiles, steel, and railroads, which were basic to the fundamental well-being of the economy, were barely profitable. Crop prices dropped, americans thought the nation would continue to prosper under Republican leadership. The bottom fell out of the market and the nation's confidence, and half of the banks failed. The causes of the stock market crashed and the Great Depression made the collapse of the economy occur more quickly and the depression worse than it could have been. Many were out of a job, and others experienced pay cuts and reduced hours.
The Nazi used the Great Depression as the boost to gain support from the Germans. Due to America’s depression, Germany was put into a dire state as unemployment increased, thus resulted in the Nazi gaining votes during the 1933 election. The depression caused desperation within the people that made them feel that the Weimar Republic could not look after them or the country’s financial problems. Hitler made promises to get rid of the unemployment rate, thus gaining the support of the public. Although the Great Depression was a key factor to Hitler’s rise to power but there were other causes: the German’s were looking for a saviour and Hitler happened to be that person; Hitler also played on the German’s fear factor of Communism and Communist which led him to get votes from the middle to higher class citizens by the burning of the Reichstag.
What was life like for Americans going through such a horrific crisis after having a wonderful decade like the roaring 20 's? What would finally help these people who all went into a recession, in desperate need of jobs to take of themselves and their family? How long would it take for the plan to help the United States citizens get out of this economic crisis? People were suffering looking for jobs, but could not find work because the economy had a downturn in it. Unemployment rates went sky rocket high from 4 million to 6 million, later changing to 13 through 15 million all due to one stock market crash.
The stock market crash of 1929 was needed as like a jump start for the nation. With the stock market crash of 1929, it sent the U.S. into the greatest depression it has ever known and people didn 't know what to do or how to fix it. Fitzgerald couldn 't predict the stock market crash but in his book the Great Gatsby, he does write about how, “that society was living in excess and without curbing its appetite somewhat, ruin was just around the corner.” Before the crash the only people that benefited were the wealthy and officials and the high ups, before the crash the market rose by 108 percent and wages grew, but this all came to a big grinding halt when the stock market crashed. The Nation went up and came crumbling down, this destroyed the economy and the view of people as they did not know how to fix it or change it. This crash came so suddenly; no one was prepared or ready for the sudden crash.