Great Depression Essay

Great Depression Essay

Length: 1353 words (3.9 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

The Great Depression is probably one of the most misunderstood events in American history. It is routinely cited, as proof that unregulated capitalism is not the best in the world, and that only a massive welfare state, huge amounts of economic regulation, and other interventions can save capitalism from itself. The Great Depression had important consequences and was a devastating event in America, however many good policies and programs became available as a result of the great depression, some of which exist even today.
When the stock market crashed in October 1929, the nation plummeted into a major depression. An economic catastrophe of major proportions had been building for years. The worldwide demand for agricultural goods during World War I vanished after the war and rural America experienced a severe depression throughout most of the 1920s. This lead to banks foreclosing farm mortgages and by the early 1930s thousands upon thousands of American farmers were out of business. The U.S. economy was superficial and shallow. Major businesses increased profits through most of the decade while wages remained low and workers were unable to buy the goods they had helped to produce. The financial and banking systems were very unregulated and a number of banks had failed during the 1920s. The construction and automotive industries, whose booming business had been made possible by the prosperity earlier in the decade, slowed. Declining sales resulted in higher rates of unemployment.

America was witnessing a breakdown of the Democratic and free enterprise system as the US fell into the worst depression in history. The economic depression that beset the United States and other countries was u...


... middle of paper ...


... many people to turn against New Deal policies. In addition, The United States entered World War II in December of 1941, the year generally considered to be the end of the Great Depression, causing an enormous growth in the economy as war goods were once again in great demand. No major New Deal legislation was enacted after 1938.
However one good thing remained. The welfare programs of the Great Depression changed American values forever. As a result of the great depression people everywhere were raised learning never to accept anything they didn't work for. After the Great Depression, government action, whether in the form of taxation, industrial regulation, public works, social insurance, social-welfare services, or deficit spending, came to assume a principal role in ensuring economic stability in most industrial nations with market economies.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

The Great Depression and the New Deal Essay

- Great Depression The Great Depression and the New Deal In response to the Stock Market Crash of 1929 and the Great Depression, Franklin D. Roosevelt was ready for action unlike the previous President, Hubert Hoover. Hoover allowed the country to fall into a complete state of depression with his small concern of the major economic problems occurring. FDR began to show major and immediate improvements, with his outstanding actions during the First Hundred Days. He declared the bank holiday as well as setting up the New Deal policy....   [tags: Great Depression]

Strong Essays
986 words (2.8 pages)

The Great Depression And The Depression Essay

- A Response to the Great Depression Are you prepared if we have to enter another Great Depression again. Many people take for granted the opportunities to walk into a store to purchase goods and services such as clothes, food, gas, laundry soap, shampoo, computers, phones, cars, etc… Opportunities to walk into a restaurant to dine in or order fast food any time we want. But what if all that came to a halt. Anything can push the United States of America into a Great Depression again. We are talking about a war, terror attack, and 11major climatic storm changes....   [tags: Great Depression, Unemployment]

Strong Essays
1131 words (3.2 pages)

The Depression Of The Great Depression Essay

- The Great Depression was just that, great. It was a unique experience that America has only gone through once… or perhaps twice. Maybe the 2008 American economic crisis did not lead to a recession at all; maybe it led to a second Great Depression. Of course that’s utter insanity, because everything from the numbers to the feelings show that 2000-2010 was nothing like the twenties and thirties. Realistically the most recent American recession was a barnacle on the whale of the Great Depression. Children of the recession can confirm to you that very little was similar to their twenties brethren....   [tags: Great Depression, Unemployment]

Strong Essays
1272 words (3.6 pages)

The Great Depression Essay

- Many adolescents, In the Great Depression, received the full affects and suffered. Some were left hungry, impoverished, and hopeless, how are adolescents today compared. The 30’s were a time of great distress for many Americans. Events such as the stock market crash, an economy suffering from being inflated, overuse of credit, a farming crisis, and other events led America to the economic downfall known as the Great Depression. During the great depression, the unemployment was high, the wages were low, lines stretched around the city for food, families that lost their house had to live in makeshift homes in communities called hoovervilles, and children had to stop school to work for money....   [tags: The Great Depression ]

Strong Essays
1059 words (3 pages)

The Great Depression Essay example

- Selcuk Bali defines depressions as, "prolonged periods of economic downturns often characterized by a rise in unemployment, general rise in commodity prices, lower production levels, and in many cases, lack of credit facilities or borrower apathy." He goes on to say that in most cases Depressions are triggered by specific events in an economy, (Bali).The Great Depression, is often times called the defining moment in the twentieth-century of the United States history, it was "the longest, deepest and most pervasive depression" in America, according to Szostak....   [tags: Great Depression, Unemployment]

Strong Essays
1714 words (4.9 pages)

Essay The Great Depression

- In the decades preceding the Great Depression, the world’s economy had been dealing toward globalization. Some countries reduced the barriers to trade and capital flows. When more nations became integrated into a expanding world economy, it set the stage for modern economic growth. At that time, more people started to enjoy political and economic freedom more than any other time in history. The hardship of the late 1920s and the 1930s has yet to be replicated on such a grand scale. The 25% unemployment rate was a reality back then....   [tags: Great Depression, Unemployment, 1930s]

Strong Essays
706 words (2 pages)

Essay on The Great Depression

- The Great Depression When a person hears the words “The Great Depression,” almost everyone thinks of the worst economic times in the United States. The Great Depression started in the late 1920s and continued on until the early 1940s. It is known as being “the deepest and longest-lasting economic downturn in the history of the western industrialized world” (History.com). We can learn from the occurrences during The Great Depression that government involvement is the deciding factor of whether an economy will expand or continue to shrink during a recession....   [tags: Economy, Great Depression ]

Strong Essays
1596 words (4.6 pages)

Blue Eagle, Nra And The Great Depression Essay

- Blue Eagle, NRA and the Great Depression The creator of this poster, Einson-Freeman INC, used very creative ideas to get their message out and capture the attention of the targeted audience. With its big front text that read “ FULL SPEED AHEAD!” and the good looking picture of Uncle Sam operating a train while a wind is blowing through his body, the creator made this poster to look like as if it’s about to take the audience on a great adventure of some kind. But in order to do so, they have to buy something and be a member....   [tags: Great Depression]

Strong Essays
719 words (2.1 pages)

The Great Depression And The Depression Essay

- Imagine how would it be if all of a sudden economy crashed and there is no back up plan. It has happened before in history during 1929 with the crash of The Wall Street, which marked the beginning of the depression. The great depression was on of the hardest time in American history. After the roaring twenties was the dirty thirties which started with the stock market crashed and marked the beginning of the Great Depression and consisted of Dust Bowl in South. Great Depression was the worst economic downturn in American history with millions of dollars loss in stock market crash....   [tags: Great Depression, Franklin D. Roosevelt]

Strong Essays
1087 words (3.1 pages)

Great Depression Essay

- The Great Depression During the 1920’s America was experiencing great economic growth. As WWI was ending Americans were out of energy. For almost 100 years they had been facing the problems of sectionalism, civil war, reconstruction, imperialism, and WWI. By the end they were ready to just sit back and party. Demand sky-rocketed and brought great economic growth. Americans failed to see the great problem looming overhead though. The Great Depression was caused by a combination of factors- a natural slowdown of the business cycle, weaknesses of the 1290’s economy magnified the slowdown, the republican response failed to help, a great environmental disaster, and the collapse of the world eco...   [tags: US history great depression 1930]

Strong Essays
1172 words (3.3 pages)