Literature Review - the Great Depression

Topics: Great Depression, Wall Street Crash of 1929, Central bank Pages: 3 (969 words) Published: August 19, 2012
Literature Review
These sources discuss causes and effects of the Great Depression which happened around the 1929 until mid-1930. Here, the authors analyses and mentions some of the causes and effects of this depression that affect not only the United States but other countries as well. It will also be review some statistics and facts originated by the Great Depression. Source:

Gay, E.F., 1932. The Great Depression. Foreign Affairs, 10(4), pp. 529-540.

The author mentions and describes that for 1929 the rates of unemployment were from 3.2% to a 24.9% by the year of 1933. This abruptly increase was caused by the crash on Wall Street market and the past crises. The author also mention that is was too difficult for one quarter of women to find a job to help to support their families, so the poverty and consumption of commodities decrease as well, leading to an overabundance of supplies in the market. Critique

Its seems that, the great crash on the Wall Street market had a huge impact in the rates of unemployment during the crisis, leading to a general panic not just for consumer but suppliers as well since they were having an overstock in supplies since the people did not have enough money to buy goods. Source:

Historical Statistics of the United States: Millennial Edition, ed. Susan Carter, Scott Sigmund Gartner, Michael Haines, Alan Olmsted, Richard Sutch and Gavin Wright (Cambridge: Cambridge University Press, 2006),, accessed 8 August 2012.

Changes in the behaviour of the population were also a factor in this crisis. The author mentions that in 1929 the rates of suicide increase rapidly since many companies were ruined or in bankruptcy. Another change was the rates of fertility and family, which decrease in a nearly 20% by 1934. Many young couples were afraid of having children for their finances, the widespread poverty was affecting all the aspects of a family life and women prefer not to have children. Finally,...
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