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How Did The Great Depression Affect The Economy

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The Great Depression was a severe economic downturn in the United States lasting from 1929 to 1939. During the time of the Great Depression, stock prices plummeted, and unemployment had risen. Since millions of individuals lost their jobs, poverty and homelessness became so widespread as investors lost significant amounts of money resulting in a widespread panic and a decline in consumer spending. Because of this, the agricultural sector also suffered due to falling crop prices, leaving many struggling to meet basic needs. Although this period caused an economic downturn and unemployment, several ideas and developments such as New Deal Programs, labor movements, technological advancements, and social security. While these ideas emerged, they …show more content…

Since the Great Depression caused widespread unemployment, many businesses either closed down or went bankrupt which meant that people struggled to afford basic needs such as food, clothing, and shelter. Many lost their homes due to their inability to pay which sparked Shanty towns also known as “Hoovervilles” as makeshift communities for homeless individuals. This goes without saying that people had to live in crowded and unsanitary conditions. That being said, the combination of unemployment and poverty led to food scarcity as soup and bread lines became common as well as unaffordable medical expenses causing a lack of proper healthcare and an increase in health issues. To add, life expectancy in the United States went from 57 to 63 during the Great Depression. Apart from this, one of the main significant hardships that the economic downturn caused was social dislocation. Families were torn apart in search of work and opportunities. Herbert Hoover was the president in office from March 4, 1929, to March 4, 1933, where people had blamed him for the Great Depression because he was the president at that time, and people claimed that he was not doing anything to help get the country out of the crisis it was

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