Preview

How Did The Great Depression Affect The Economy

Good Essays
Open Document
Open Document
1815 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
How Did The Great Depression Affect The Economy
The Great Depression was the most severe economic downturn in world history. This period started in 1929 and lasted until the late 1930s in various nations. It was the longest and most widespread depression of the 20th century. Society now became challenged both socially and politically. People were now faced with challenges of survival. Citizens of many nations now even questioned the relationship they had with their own country. Even though the poor and wealthy had distinct perceptions of the depression, both sides still felt challenged and changed by the experience. In this paper I will examine how the Great Depression affected the world economically, socially , and culturally.
Economic Impact of the Great Depression
The Great Depression
…show more content…
Undesirable social vices were on the rise because of the hopelessness most people felt. The crime rate during the Depression was at an all-time high. Bank robbers such as John Dillinger and Machine Gun Kelly became folk heroes to many Americans because they stole from individuals most Americans regarded as creating the financial crisis: the banks. Americans saw the Federal Bureau of Investigation as the villain because Dillinger and others gave money to those willing to shelter them from the government.
Heath care in general was not a priority during the Depression. Doctor visits were reserved for only most severe circumstances. Suicides, malnutrition, domestic abuse and alcoholism increased as the Depression worsened. Suicides among investors and stock brokers increased because they were bankrupted by the stock market crash or were responsible for the bankruptcy of others. Malnutrition increased as families cut fruits, vegetables and some meats from their diet. Families in rural areas were able to plant gardens for most of their nutritional needs while families in urban settings were forced to rely on what others could provide. Alcoholism and domestic abuse was more troublesome as the depression worsened. Some men, frustrated at the lack of job opportunities, became verbally and physically abusive towards their

You May Also Find These Documents Helpful

  • Good Essays

    Great Depression DBQ

    • 563 Words
    • 3 Pages

    There were many downfalls in america’s economy, but there was one that vanquished them all, the great depression. Millions of people, rich or poor, were affected in different ways. Families searching in the trash for food, and farmers killing their sheep because they don’t make profit due to the price for shipping them. Those are two examples of many in which the great depression affected some.…

    • 563 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    The Great Depression had a significant impact in history. It was one of the most memorable events in history due to its economic impact and its influence on society. It began as a stock market crash, but soon turned into the deepest economic depression in history. Businesses cut production, consumers reduced purchases, and the stock market continued to decline. It began in 1929, lasting for several years. Its impact can still be seen today, as the country continues to learn of its effects.…

    • 449 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The Great Depression had a great economic effect upon the nation, to which the existing laws and government were unprepared for. The government tried to help, but due to “rapidly declining government funds, state and local governments relied largely on relief administered by religious and charity organizations” (Downs). In an economic crisis, governments at the state and local levels were rendered incapable of offering much aid, without laws for the situation at hand. The Depression’s effect upon the government signifies the extent to which it impacted the nation considerably, to have greatly affected the people and the government. At the beginning of the Depression, under President Hoover, many measures were taken, in which the central government…

    • 280 Words
    • 2 Pages
    Good Essays
  • Good Essays

    The Great Depression was the greatest economic crisis in the Western World. The stock market crashed on October 1929, sending Wall Street up in flames. By 1933, the Great Depression reached a high point leaving over thirteen million Americans jobless (“The Great Depression”). Relief and reform measures were soon put into place to lessen the heavy load the Great Depression created, but America would not fully recover until after 1939.…

    • 676 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Great Depression had positive and negative effects on the population. The positives were people learned never take life for granted and to work hard. As the sudden drought of the Dust Bowl “left thousands of farmers and their families homeless” without a source of income. Also, to work hard as people would “work any way at all, that they could” to gain a source of income. However, the negatives were children that “travelled across the countryside” in search for a job were separated from their families and millions were still unemployed and lost everything.…

    • 94 Words
    • 1 Page
    Satisfactory Essays
  • Powerful Essays

    1929-1939 Great Depression

    • 1457 Words
    • 6 Pages

    The Great Depression was dated from 1929-1939. It was known to be the longest economic down fall in the history of western industrialized world. The Great depression was started after the stock market crashed in October 1929 ( “The Great depression”,n.d .). This event sent wall street into panic mode and swiped out millions of investors across the country. During the year 1933 the great depression had reached it’s peak and more than 13 million Americans were unemployed and half of our nations banks had failed. ( “The Great depression”,n.d .)…

    • 1457 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    The Great Depression was a time of great suffering in American history. Remarkably it was a time that marked the American people and the country was able to emerge shining and stronger than ever. The Great Depression began in 1929 when in the month of October the stock market crashed and fourteen billion dollars were lost. In just one week, thirty billion dollars were gone. This loss was so monumental because it was ten times the average annual budget of the United States.…

    • 717 Words
    • 3 Pages
    Good Essays
  • Good Essays

    In the history of United States, Great depression that occurred in late 1920’s and 1930’s made a dramatic and tragic impact on American economy along with American people. The depression set at time when many were just arriving in new country and try to settle their feet on ground. Theodore Roosevelt, the president of time, began several programs to slow down the impact of great depression. The government began new deals to tackle the dilemmas of great depression.…

    • 513 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    There was an unprecedented amount of financial growth that was unable to be sustained due to the 1920s, but not everyone in the nation shared in this prosperity; this is a major contributing factor of the Great Depression. Herbert Hoover had an outdated belief on “rugged individualism” that kept him and his administration from intervening and regulating the government. The stock market was a big part of society, but “Black Tuesday” was the beginning of this recurring and prolonged cycle of booms and busts. There were multiple “black” days during this time, but October 22, 1929, “Black Tuesday” was the day millions of middle and working class people lost their life savings; this resulted in credit drying up, workers being laid off and “Hoovervilles” began to form (Globalyceum, “The Great Depression”). The unemployment rate in 1929 went from 3% to 25% all within a span of four years.…

    • 1463 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    Starting in 1930, the Great Depression was a time of serious monetary ruin in America. The Great Depression made a great deal of anxiety on Americans monetarily and emotionally. The Great Depression was a monetary destruction in the United States and the world, this was brought about by the tremendous stock market crash. Because of the decrease in value of money, less employments were accessible. Regardless of the fact that you could discover an occupation with many hours, the pay wouldn't be sufficient to provide for your family.…

    • 373 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The American society, socially had a very big impact planted on it during the Great Depression. There was a very high depression rate from the Great Depression, this lead to higher suicide rates, high number of runaway teens, more orphaned children, and a higher divorce rate. All of these things caused by depression…

    • 410 Words
    • 2 Pages
    Good Essays
  • Good Essays

    During the 1930’s or as the others know as the dirty thirties came the great depression. The great depression is the longest economic downturn in the history of the Western industrialized world. This happened in North America, Europe, Canada and many more places around the world. People went through a lot during the great depression and lost many people. It also made the employment rate drop in increasingly numbers.…

    • 440 Words
    • 2 Pages
    Good Essays
  • Good Essays

    In 1932 when Franklin Delano Roosevelt was elected into office, a group of university scholars, liberal theorists, and himself fought for an answer to help the people of the United States through the Great Depression. Within the first 100 days of Mr. Roosevelt’s presidency, bills to relieve poverty, minimize unemployment, and promote economic recovery were already being passed. Though the acts did not help, the Great Depression lasted nearly another seven years afterwards. While some were worried about the wellbeing of the economy, others were worried about the wellbeing and mental health of the people. Both the physical and mental effects the Great Depression had on the public forced them to make many difficult and jurassic changes in their…

    • 810 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Great Depression Causes

    • 1060 Words
    • 5 Pages

    The Great Depression was an awful point in history. It was a worldwide economic slump of the 1930’s. Banks, factories, and shops all closed. Millions of people were left jobless. Many people had to depend on the government or charity to provide them with their everyday needs. Rising unemployment, declining production, and falling prices spread rapidly to the rest of the world in the early 1930's. The Depression caused world trade to slow down a lot, as countries tried to help their own industries by increasing restrictions on imports.…

    • 1060 Words
    • 5 Pages
    Good Essays
  • Good Essays

    The great Depression affected not only the poor countries, but the rich as well. The U.S saw unemployment rates climb as high as 25% while other countries saw rates as high as 33%.…

    • 349 Words
    • 2 Pages
    Good Essays