The Great Depression Of 1929-1939 - 2217 Words

Although the Great Depression of 1929-1939 was a detrimental and hard time for America due to increases in crime rates, unemployment rates, and shortages of food, the economic collapse was also a time for President Franklin Roosevelt to reassess the economic situation in America. Roosevelt put in place laws, agencies, and legislature that better shaped the structure of the country, and ultimately created a more powerful and stronger country, both economically and socially. The new legislature that President Roosevelt put into place lead to the United States experiencing close to seven decades of economic growth and made it one of the most influential countries in the world. The American economy slipped into a depression with the Stock Market Crash of 1929. At first, people thought it would be just another depression, similar to the seventeen or more the United States had already been through, and it wasn’t referred to as ‘The Great Depression’ until much later. This time it was different though, and much more of the population was effected as the depression overwhelmed the economy a considerable amount quicker than any had before. On October 24, a day now known as ‘Black Thursday,’ more than 12.9 million shares were traded. A second rush of anxiety swept over Wall Street only five days later on a day now referred to as ‘Black Tuesday.’ Another 16 million shares were traded that day, leaving investors with nothing. The United States GDP fell thirty percent that year,Show MoreRelatedThe Great Depression ( 1929-1939 )1813 Words   |  8 PagesThe Great Depression (1929-1939) is the worst economic downtur n that the modern world has ever seen before. Beginning with the Wall Street stock market crash of 1929, the situation grew worse in the United States, in part, due to the tremendous wealth disparity between the higher class and the lower class. Wages did not grow nearly as quickly as production did during this era, so many people were unable to purchase certain goods. As a result, there was an excess in supply, which prompted layoffsRead MoreThe Causes of Canadas Great Depression of 1929-1939 Essay1679 Words   |  7 Pagesâ€Å"On the morning of October 29, 1929, panicked voices shouted over one another. Here and there, men leaned against the walls, hands over their faces as if trying to shut out the scene. In the street outside, a crowd had gathered, trying to learn the news. A man staggered out the door, clutching his hat in both hands. He looked as though he might weep. â€Å"It’s gone,â€Å" he whispered, so quietly only the few closest to him heard. â€Å"Itâ€⠄¢s all gone.†# The term ‘Great Depression’ according to Kristin Brennan evokesRead MoreThe Great Depression By Milton Freidman And Paul Samuelson1267 Words   |  6 PagesIntroduction: Background Information The Great Depression is defined as an era of hardship and was the â€Å"economic downturn in the history of the Western industrialized world† . The United States was predominantly affected by the Great Depression, soon after stock market crash of October 1929. This fiscal crisis sent Wall Street, the center of economics in New York into a state of prolonged recession that affected foreign economies. In the next few years in America, unemployment increased immenselyRead More Canada and The Great Depression of the 1930s1378 Words   |  6 Pages1929-1939- The Great Depression The depression years of 1929 - 1939 proved to be the worst, and some of the best years for Canada and Canadians. It was a time of extreme highs and lows socially, emotionally, and economically. It was a time that Canada came into her own being on the world wide stage. During the worst depression years in Canada, there were many people who tried tirelessly to get Canada out of the crisis she was in more quickly and efficiently. William Aberhart and his group ofRead MoreThe Stock Market Crash Of 19291437 Words   |  6 PagesBy early 1929, people across the United States were rushing to get into the stock market. The profits seemed so certain that even many companies placed money in the stock market. In addition, even more problematic, some banks placed their customers money in the stock market (without their consent). With the stock market prices rising, everything seemed fantastic. Many believe incorrectly that the stock market crash of 1929 is the same as the Great Depression when in fact; it was one of the majorRead MoreThe Great Depression : The Greatest Depression1257 Words   |  6 PagesThe Great Depression was one of the lowest points ever seen in history that began in 1929 and lasted until 1939. It can be defined as an economic slump i n North America and Europe, along with other industrialized areas of the world. The Great Depression was the longest, most severe depression ever seen, and experienced by the newly, industrialized Western world. Although there are pros and cons, as it brought in deep social and personal problems as well as a new introduction to thought and cultureRead MoreEssay on The Great Depression, Annotated Bibliography879 Words   |  4 PagesCecchetti, Stephen G. Understanding the Great Depression: Lessons for Current Policy . Monetary Economics (1997): 1-26. This article is about the circumstances that led to the collapse of the economy in 1929. It relates to my research proposal because I am evaluating historic events that led to the financial crisis of 1929. The article discusses how deflation played an important role in expanding the depression, and how the Gold Standard, a monetary system in which a country’s government allowsRead MoreThe Age Of The Depression1120 Words   |  5 PagesMany people think of the 1930s as â€Å"The Age of the Depression†. Two main events happened that cause this thought to pop into their heads. These two main events were the Great Depression and The Dust Bowl. In 1929 the stock market had crashed which led to a higher unemployment rate and a lower income, this was called the Great Depression. A couple of years before World War I The Great Plains had been plowed then a horrible drought hit the areas that were plowed. The dry dust would blow around the plainsRead MoreHoover And Roosevelt s A ctions During The Aftermath Of The Crash Of 1929792 Words   |  4 PagesCrash of 1929. How did both administrations attempt to deal with the economic stagnation, social hardship and psychological impact of the depression? What needed to be fixed and which approach proved more successful? In your essay you should address not only the underlying economic and social problems that both administrations had to deal with and the various corrective measures they adopted, but also the underlying philosophical approaches of Hoover and Roosevelt and their supporters. The Great CrashRead MoreDecade of Despair: Winnebago County During the Great Depression by Werner E. Braatz and Thomas J. Rowland1524 Words   |  6 PagesDecade of Despair: Winnebago County During the Great Depression 1929-1939. Authors are Werner E. Braatz and Thomas J. Rowland. Copyright 2009 by University Press of America. Published Lanham, Maryland 20706. ISBN-13: 978-0761846406. The stock market crash of October 1929 drastically affected the economic growth of the entire United States. In Wisconsin the attitudes of many changed and several began to devise plans on surviving the worst depression in the Nation’s history. Wisconsin, like many