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The Great Depression Essay

707 Words3 Pages

What was the Great Depression? The Great Depression was an economic shock that impacted most countries worldwide. The cause of the Great Depression was that stock market prices had a massive crash in 1929. This sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers. This information is important to know, being that we are trying to find out, how did President Franklin Roosevelt turn this tragic period around. I feel that the Great Depression took an impact on really the whole United States. Unemployment rose to 25% and homelessness increased, housing prices plummeted, international trade collapsed and deflation soared were all negative outcomes US citizens had to face when this period came along.
First, as I stated in the first paragraph Unemployment rose to 25% and homelessness increased. This bought a rapid rise in the crime rate as many unemployed workers resorted to petty theft to put food on the table. Homeowners list their property when they could not pay mortgages or pay taxes. Renters fell behind and faced eviction. Being that if they couldn’t fulfill their needs, they would have to migrate, and this is when homelessness increased. Around 1932, …show more content…

That type of laissez-faire economics was what President Herbert Hoover advocated, and it failed. Being that he wasn’t a great choice, people voted for President Franklin Roosevelt. His Keynesian economics promised that government spending would end the Depression. The New Deal was a series of programs and projects instituted during the Great Depression by President Roosevelt that aimed to restore prosperity to Americans...The New Deal worked. When Roosevelt took office in 1933, he acted quickly on what was being faced. He stabilized the economy and provided jobs and relief to those

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