1920s Affluence and Anxiety

Topics: Great Depression, Business cycle, Late-2000s recession Pages: 2 (525 words) Published: August 2, 2012
1920s Affluence & Anxiety: During the 1920s,the United States achieved remarkable economic growth (affluence) because of various conditions - electricity, Europe's destruction (WWI), technlology and others. At the same time, immigration (Southern Europeans and Asians), new ideas (Evolution and Science), political (Socialism, Anarchism, Communism)and religious ideologies ( Catholism, Judaism) entered American society. With the affluence, was also the presence of anxiety. How did most Americans deal with new ideas and religion? Why in such affluence would there be fear and anxiety? Explain. You may end your reply with a question.

The United States began to experience an astonishing economic growth. Like most growth, society began to change and many ideas were emerging. The dynamic of cultural and technology advancement was gradually changing people perspective, and therefore bring division among the people. The presence of anxiety is quite natural since people are not accustomed to changes. Some people are willing to accept the changes and some might not. With more and more immigrants coming in, people will always fear what they don’t know and they are afraid of being suppressed. When it comes to religion for example, they were displeased by the evolution theory and did not want to accept it. Also after the WWI ended, people are afraid of still going to war because of America is becoming the world power. The Great Depression & Today’s Economy: This is a timely one. As you uncover the causes of the Great Depression of 1929, compare and contrast those conditions with the conditions of the Great Recession of 2007/2008. Are there similarities in 1929 that may be present in today's recession? After knowing about the Great Depression, does that knowledge shed any light of understanding about the recession?

The Great Depression affects not only the U.S, but the whole world. Like the Great Recession of 2007/2008 some of the cause for the financial crisis revolved...
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