The Great Depression is known to be the most worldwide depression of the entire twentieth century. It is well known and still studied today in history. The Great Depression was cause when the stock market crashed in the late 1920s. Before the Great Depression everything appeared to be going well and poverty was at a high in the twenties in which was referred to the roaring twenties. The Great Depression started on October 29, 1929, which is the day the stock market collapsed. This day is referred to as Black Tuesday. To the horrors of many people, this Depression lasted a full decade shocking everyone on how a once stabile economy can go from prosperity to nothing overnight. People have attributed the Great Depression as one of the causes of World War II. There are many different perspectives on the Great Depression.
Robert J. Samuelson, who is a longtime columnist for The Washington Post, writes on business and economic issues. He wrote an article called, Revisiting The Great Depression. He ultimately believed that World War II was attributed to the Great Depression. “It arguably led to World War II, because without the Depression. Adolf Hitler might never have come to power. It discredited unfettered capitalism-which was blamed for the collapse- and inspired the expansion of government as the essential overseer of markets” (Samuelson 14). Samuelson talks about addressing questions in the article such as, could another depression be in place, can we learn from the Depression, and are there similarities between then and now? Samuelson goes on to say that, “Something similar is happening today, with the welfare state-the social safety net of wealthy democracies-playing gold’s destructive role” (Samuelson 14). ...
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...nately, as many know, it did not get better and ended setting up for a decade long Depression.
The Great Depression will always be remembered as one of the main low points for not only the Unites States, but other countries as well. Both Kennedy and Samuelsson make some very interesting points of about the Depression. They both agreed that the Great Depression had to do with World War II. They also both provided statistics in different ways to back up what they were saying. It is interesting to get a perspective from a well respected newspaper such as The New York Times and seeing articles published from the day after the stock market crashed. It is head scratching that before the day the stock market crashed everything was going so well in the roaring twenties, then just one day changed history forever and also changed the lives of many people for the next decade.
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