The Great Depression
This report is about the economic hard time of the 1930's. The great depression is a time when the people of the United States and the government's spending was out of control. You'll learn that the great depression didn't just happen over night but accumulated over a period of time.
It's a common misconception that the stock market crash in October 1929 was called by the Great Depression. They are closely related but both are result of the modern economy. People were spending more money than they made. Banks played a role in the Great Depression because banks were willing to loan money to people who could not pay the loan back. Then the US is coming out of the roaring twenties and people were living good, plus the US is coming out of the WWI and time were good.
The whole country is focused on getting rich quick enjoying the new fad of life, invention and new ideas. The old way of doing things was being replaced by the city-oriented Jazz Age. An example of this influence is the wearing of short skirts by women, makeup, smoking and drinking.
People also developed self-centered attitudes that helped during the roaring twenties but was beging to effect the economy. Modern industry had the ability to produce vast quaunties of product, but this created a huge problem with because the demand of these good was beginning to decline and there was a surplus of goods that merchants had to sell without profits.
There was a one economic problem and that is that income was not distributed evenly to everyone. The amount of money going to the wealthiest was getting larger as the decade proceeded. To factors caused this problem. First the company showed outstanding gain in productivity, but the workers got received a small percentage of the profit. At the same time the there was a tax cut to the rich but for lower income had no change and worker... [continues]
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