U.S. History II
January 2, 2012
The Great Depression: The Epitome of History
The great depression has had lasting effects on how Americans view themselves and their government. Some of the main causes of The Great Depression were the Dust Bowl, the purchase of margin stocks, and the advancement in technology. However, these things may have caused trauma in our country, but they also had a lasting effect that helped our country grown and learn from our mistakes. The economic and social pain that the Great Depression caused for America had a silver lining, as many positive new policies came out of our experience. Some examples are the Stock Market Crash leading to regulation, banks failing leading to FDIC, poverty leading to unemployment and welfare, and lack of medical care led to Medicare. Basically, we created safeguards to prevent another depression and programs to help people if the safeguards failed. "Great Depression." : The Concise Encyclopedia of Economics. N.p., n.d. Web. 04 Jan. 2013. "Government Growth." : The Concise Encyclopedia of Economics. N.p., n.d. Web. 04 Jan. 2013. "The Great Depression - Causes of the Depression." The Great Depression - Causes of the Depression. N.p., n.d. Web. 04 Jan. 2013. Generally, the Stock Market Crash led to regulation. Saying that the Stock Market Crash of 1929 devastated the economy is an understatement. A lot of people lost all of their life saving, and it was common that many of those people ended up committing suicide because of it. However, as a country we were able to learn from this significant event. Years after, regulations covering buying stocks on margin and the roles of banks have added protections to prevent this from happening again. The Stock Market regulations objective is to secure their futures, pay for homes, send children to college, and overall, sustain economic growth. The securities industry is one of the most highly regulated businesses in the United States. It...