Essay on The Great Depression - 905 Words

The Great Depression Many times throughout history, the United States has undergone economic depression. The most recognized period of economic depression is called the Great Depression. The Great Depression is well known because of the seriousness of the stock market crash. The results of the crash were more serious than any other crash throughout American History. The Great Depression caused a change in the nature of the American family, an increase in poverty, and President Herbert Hoovers proposal for immediate action by the government, balanced his belief in rugged individualism with the economic necessities. While most Americans are familiar with the Great Depression as a time of economic disaster,†¦show more content†¦According to an old study, 26,000 American businesses collapsed; in 1931, 28,000 more met the same fate. In addition, by the beginning of 1932, nearly 3,500 banks, holding billions of dollars in uninsured deposits, had gone under. Twelve million people were unemployed (nearly 25 percent of the workforce), and the real earnings for those still lucky enough to have jobs fell by a third. This statistical evidence effectively illustrates the increase in poverty caused by the Great Depression. An additional result of the Great Depression was that President Hoover balanced his belief of rugged individualism with the economic necessities of the time by proposing direct action by the government. Hoover had only been in office for eight months when the stock market crashed. At first, he treated this financial disaster and decline in employment and business that followed the Great Depression as a panic. According to The American Pageant He was accused of saying, yet did not use these precise words, that prosperity was just around the corner. As the depression got worse, Hoover became increasingly concerned about the troubles of Americans. Hoover refused to agree with the request of the Democrats in Congress, who wanted the government to distribute money to the unemployed. †¦[Hoover] as a rugged individualist deeply rooted in an earlier era of free enterprise, shrank from the heresy of governmentShow MoreRelatedThe Depression Of The Great Depression1223 Words   |  5 Pagesfar-reaching consequences as the Great Depression. This experience was the most extended and severe depression of the Western world. It was an economic downturn that began in 1929 and lasted until 1939. A large amount of America’s labor force lost their jobs and suffered during this crisis. During the nation’s financial disaster, Franklin Delano Roosevelt became president and made extensive changes to America’s political structure. The effects of the Great Depression had lasting consequences that areRead MoreThe Depression Of The Great Depression1232 Words   |  5 Pagespeople think that the stock crash was to blame for the Great Depression but that is not correct. Both the crash and depression were the result of problems with the economy that were still underneath society s minds. The depression affected people in a series of ways: poverty is spreading causing farm distr ess, unemployment, health, family stresses and unfortunately, discrimination increases. America tended to blame Hoover for the depression and all the problems. When the 1932 election came peopleRead MoreThe Great Depression Essay1390 Words   |  6 PagesIntroduction: The world had faced two main economic problems. The first one was the Great Depression in the early of 20th Century. The second was the recent international financial crisis in 2008. The United States and Europe suffered severely for a long time from the great depression. 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You would think the United States would have learned from their mistakes but it seems we are going down the same road once again without even taking a step back and realizing it. When people talk about the Great Depression not a single person will have anything good to say about it. It caused families a great deal of pain that they will never forget. WithRead MoreThe Great Depression1368 Words   |  6 PagesAfter WW1 the Great Depression had a very late impact on the major film companies in France, when it did, it unfortunately caused several film studios to go bankrupt, then in the late 1920’s to 1930’s many small film companies and groups emerged giving birth to the tendency called poetic realism. Because the large companies who made films with a focus on making money were gone the filmmakers and artists were able to concern themselves with the art of film, they often took poetic innovations thatRead MoreGreat Depression7197 Words   |  29 PagesGreat Depression From Wikipedia, the free encyclopedia {draw:frame} Dorothea Langes Migrant Mother depicts destitute pea pickers in California, centering on Florence Owens Thompson, age 32, a mother of seven children, in Nipomo, California, March 1936. The Great Depression was a severe worldwide economic depression) in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s