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What Was The Role Of People's Economy In The 1920s

387 Words2 Pages

In the 1920’s America felt that its society would continue its climb towards success. People were buying goods on credit with the expectation that they would easily pay their debts with the raises they would get from there every increasing paychecks. However, this extreme success of America led to an extreme downturn in it 's economics. With the bank runs on Black Tuesday, the overproduction of goods, and people’s extreme debt, America plunged itself into the Great Depression. The president of the time, Herbert Hoover, did little to help the straining economy. He was then replaced by Franklin Delano Roosevelt. Roosevelt acted quickly in American economics by creating the “New Deal” policy. The actions of Roosevelt’s “New Deal” were a band-aid

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