To What Extent Was The Great Depression Dbq

The Great Depression Was Inevitable As is known to all, the Great Depression impressed Americans deeply. Because it is one of the worst time periods for Americans in American history. Some comments says that it was the longest, deepest, and most widespread depression of the 20th century. October 29, 1929 was called “Black Thursday” by people, not only the whole economic system of America entirely fell apart, but also the economy crisis spread all over the world, especially for fragile economy in Europe that had relied severely on American loans. The horrible phenomenon in America was that the booming stock market crashed, there was no business houses open their doors, factories shut down, banks also closed down because of the loss of savings, and farm income decreased at least 50% and so on. In the beginning, the economic crisis just broke out in America. But at last, its range extended as far as the whole world, especially all the capitalist countries. Without doubt, the Great Depression is the most serious economic crisis in American history. But why did

“Laissez-faire” is an economic system in which transactions between private parties are free from instrusive government restrictions, tariffs, and subsidies, with only enough regulations to protect property rights. The phrase laissez-faire is French and literally means “let (them) do”, but it broadly implies “let it be”, “let them do as they will”, or “leave it alone.” Many people say that the major reason why the economic crisis broke out is “laissez-faire.” But in my opinion, the major reason is not the “laissez-faire” capitalism but Hoover, because Hoover didn’t know that he should abandon the “laissez-faire” capitalism in time and then change the “laissez-faire” capitalism to a new policy. At the end, his insistence resulted in the collapse of the whole American economic