Great Depression Consumerism

722 Words3 Pages
Known historically and internationally as the greatest economic struggle in American history, the Great Depression rendered the United States into fiscal terror. Almost seeming as a curse laid upon America, multiple major and minor events began to build upon one another and only make matters worse. This national downfall was mainly due to the crash of the stock market in 1929, the maldistribution of American wealth, the recent growth of consumerism, and the reduction of American exports around the world, with the most important cause being the international debt structure created by the aftermath of World War I. Speculated to be the beginning of an era of sadness, the stock market crash in 1929 put quite a dent in America’s economy. Known as…show more content…
For example, going back to the rudiments of before the Civil War, the difference in money distributed between industry and agriculture varied. Corruption also existed between the different social classes, as no real bourgeoisie existed; a clear difference was evident between the rich and poor. This imbalance on a drastically large scale unfortunately lead to a severe contraction of national money. Also, the recent spark of consumerism had lingering effects. For the first time in American history, the citizens of the country could now purchase and afford means of entertainment. This process, known as consumerism, likely made the sudden drop in the economy much more detrimental. While previously Americans were able to buy anything to their likings, this sudden exposure can be inferred to be a major wealth gain for the country, as the citizens of America could now enjoy life on a grander scale with the aid of such inventions as the Ford automobile. Simultaneously, American exports were gradually declining. Despite America previously being the first country to begin industrialization, European countries who once required American aid for exports began industrializing themselves. With this new technology overseas, this dramatic decrease in exports plummeted the economic and drastically reduced all future means of income from this…show more content…
While dust bowls ravished crops in the west, inflation swept the country entirely. Women were beginning to be excluded once again from the work force, and many lost their jobs since not many could afford recreational services or products. Cultural and white supremacy bias ensued the depression, as people of non-caucasian descent were discriminated against; for example, African Americans would sometimes lose their jobs to white men, as they were valued more crucial to the economy, and Asian Americans were often clumped into Chinatowns while the still prevalent hostility existed towards them. Leaving office during the depression, Wilson passed on the fate of the country to Hoover, where minimal effort was achieved; if anything, the economy worsened, as Hoover used government spending inefficiently. The Depression Era was a gloomy ten years with scarce happiness and persistent melancholy due to a series of unfortunate events in American economic history.ll future means of income from this
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