Great Depression Dbq Essay

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Would you agree that avarice is defined as an excessive or insatiable desire for wealth or gain and is directly related to the severe recession in economy during the 1930s. Well, the Great Depression was a time of great economic crisis that began in the United States but later went across much of the world. The event that traced a path for it was the crash of the stock market in October of 1929. President Hoover was the president during this time and there were nearly 2,080,000 people unemployed in US as well. Later on, Franklin D. Roosevelt takes the lead after promising a “New Deal” hoping to improve the situation. During this period of time there were two different scenarios: the city and the country. People in the city would stand in long lines at Soup kitchens to …show more content…

Consumption motivated by avarice was a cause for the Great Depression because luxury was a mass priority. “If he invests in good common stocks and allows the dividend to accumulate...He will be rich... Anyone ought to be rich.” (Raskob, 1929 Doc. C) The author is stating the result before the effort, not to mention that his conclusion is mathematically a lie. Erroneous beliefs at the national level, like the one above, caused an increase of expenses on a very high scale. Consumption was increasing nonstop but at some point the beastly desire would get to a breaking point. “The requirements of existence have passed beyond the standard of necessity into the region of luxury.” (Coolidge, 1928 Doc. B) In like manner, luxury was a high standard expected for society to meet and by all means avarice in the 1930s was still at its highest, as it was during the 1920s. The depression was the consequence as soon as there was an intervention for such high expectation. To put it differently, the Great Depression was caused by a decline in consumption, which was triggered by human

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