Prior to this revolution of machine, progress was slow. This made travel difficult and even dangerous to travel on poorly made roads. However with the industrial boom, it provided safer and shorter travel times, people began leaving rural area and journeyed to the city for opportunities and prosperity. Then October 29, 1929 happened and the stock market crashed, known as “Black Tuesday,” or “Black Thursday”. It devastated not only in the U.S economy and but worldwide.
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 Great depression Introduction: The great depression of 1930 was one the most disastrous event in the economic history. It started from the United States and then spread to the other countries. It lasted for 10 years and brought immense problems for the people and the government of that time. The great depression of 1930 is studied as an example of how far a country’s economy can fall. The recovery of many countries, from the great depression started just before the World War 2.
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. This period of economic depression, aptly named the Great Depression, was due to: downfall of agriculture--farmers mass-produced goods to compensate for the lack of income, decline in industry-- due to tariffs and debt policies, and the decrease in consumer spending--
The U.S. American history is characterized by several events that had consequence around the world. One of them is the market crash of the 1929. In the October 29th, the Wall Street had a huge collapse and important reverberations in the entire American market. During the prosperous 20s the richness was unequally spread among people with the effect that Americans were producing more of that they could have consumed. Then the “easy-money policies” caused a growth of credits and speculations in the market.
Today, 564,708 people are homeless(Social Solutions). The Great Depression has helped shape the United States to become the way we are today. There are numerous reasons this economic catastrophe happened. The Great Depression lasted from 1929-1939(History.com) President Hoover is widely blamed for this. However, he may not be entirely at fault.
The Great Depression was triggered by a collapse in U.S share prices in 1929, after a decade-long economic prosperity. Even though this event’s main cause was in the U.S, the effects were felt all over the world. In Germany, the depression caused a great number of businesses to close, mass unemployment and caused public dissatisfaction towards the Weimar Republic, which then led to a dramatic increase in popularity for the extreme left and right wing parties. However, even though the Great Depression was a significant event on German history, this event is still one of many. The War guilt clause, article 231 states that Germany had to pay a sum of ￡6.6 billion as war reparations, Weimar Germany was allowed to pay in the form of raw materials as opposed to actual money.
The 1920s and early 1930’s Great Depression eras were crucial and agonizing periods which affected majority of the people both physically and psychologically, during this time, not only in America but all over the World, there was a major economic crisis. There was a deflation in asset and product prices and disruption of trade, which ultimately resulted in widespread unemployment around the globe and eventually led to poverty known as the century of Great Depression. Because of the amount of influence the American economy had in the world, the US stock market was equally important to the world economy. More than 15 million Americans were unemployed at the worst point of the Depression, which was one-quarter of the labour forces in the United States. I chose these films ‘Of Mice and
The United States lost so much money that incomes were reduced by 40%,” (Degrace). Overall, The Great Depression had many effects on society, including the day to day struggle of the American people, the effect of the Dust Bowl on agriculture and the economy, and the evolution of the role of the President. The Depression grew increasingly worse during Herbert Hoover’s time in office. Herbert
The Great Depression had a long-term problem with social, economic, and social weakening during 1929-1939. A social issue was weakening because the people in Germany were struggling. The German economy was struggling during 1929 and 1939 but their economy was improving as the years passed by. The political issue was that they were not doing their best during the Great Depression because the Nazi was trying to gain power over Germany. But the Nazi