April 8, 2012
Today, I will be talking about the Great Depression, the impact on the supply and demand of labor
on the sector of the labor market Hit around the 1930’s, it was also known as black Tuesday. The major
impact on the supply and demand took a toll and caused a decline in the whole country there were
shortages of jobs and a lack of food supply people had to survive with what they had and hope for the
best . When it comes to the factors that affected labor demand and labor supply in the chosen historical
example Since many banks had also invested large portions of their clients' savings in the stock
market, these banks were forced to close when the stock market crashed. Seeing a few banks close
caused another panic across the country. Afraid they would lose their own savings, people rushed to
banks that were still open to withdraw their money. This massive withdrawal of cash caused additional
banks to close. Since there was no way for a bank's clients to recover any of their savings once the
bank had closed, those who didn't reach the bank in time also became bankrupt. In previous
depressions, farmers were usually safe from the severe effects of a depression because they could at
least feed themselves. Unfortunately, during the Great Depression, the Great Plains were hit hard with
both a drought and horrendous dust storms. To many at the time, President Roosevelt was a hero.
They believed that he cared deeply for the common man and that he was doing his best to end the
Great Depression. Looking back, however, it is uncertain as to how much Roosevelt's New Deal
programs helped to end the Great Depression. By all accounts, the New Deal programs eased the
hardships of the Great Depression; however, the U.S. economy was still extremely bad by the end of
the 1930s.... [continues]
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