The Great Depression Of The United States - 1299 Words

The Great Depression in the United States triggered when the American stock market crashed, causing America’s economy to have a downturn. The two long-term causes of the Great Depression were the stock market and consumer spending. When the prices were rising and wages became stagnant, people started to buy with credit and slowly reduced the amount they spent. The stock market was one of the long-term causes of the Great Depression because of speculation and abusing the stock market. Speculation is when the stock prices began to rise and it inflated a company’s worth. People also began to buy on a margin, which led to copious amounts of debt. Hoover was elected in 1928, before the Great Depression started. Hoover believed in voluntary cooperation, rugged individualism, and that the economy has cycles of up and down. Voluntary cooperation was a belief that the government should not force or control the people. Rugged individualism was the belief that people should only s ucceed through their own efforts. Since Hoover believed that the economy has cycles of up and down, his main approach was to wait and see. FDR was elected in 1932, during the time the Great Depression was in action. FDR was the kind of president who had a â€Å"try anything† philosophy. Because of this, he created the New Deal, which was when lots of laws and programs were passed in order to help reform, relief, and recover from the Depression. The New Deal in America was a success because of FDR’s efforts.. TheShow MoreRelatedThe Great Depression Of The United States857 Words   |  4 PagesThe United States has been through many wars and confrontations with other countries since its founding in 1776. Many lives were lost and many names forgotten. World war two was one of those wars. â€Å"The good war† as they called it, was a fight that was fought between the leading powers of the world. The First World War ended only 21 years prior to the beginning of this war in 1939. The citizens of the United States were set on not entering another war and losing more family and friends. World warRead MoreThe United States And The Great Depression Essay1167 Words   |  5 PagesThe United States was forever changed during the 1930s. The United States had just come out of a period of unprecedented wealth. Farmers had abundance of crops, many were investing all of their paycheck into the stock market, and banking-business practices had not changed since the Industrial Era. Many of these factors contributed to the Great Depression. Americans felt as if they were immune to any economic downturn; however by 1932, one in four American â€Å"breadwinners† were out of work. On OctoberRead MoreThe United States And The Great Depression1402 Words   |  6 Pagescolonized by Great Britain, is still considered a western country. 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Banks fizzled, the country s cash supply lessened, and organizations went bankrupt and started to terminate their specialists by the thousand. Then, President Herbert Hoover who was the president at the time promised to be patient and let the time frame run its course. He citedRead MoreEssay on The Great Depression in the United States930 Words   |  4 PagesThe United States? Downfall Screams, tears, and cries for help were all part of Americas downfall. From 1929 through 1941 there was only one thing that was plentiful, sorrow. During this time the United States was faced with another obstacle. It changed America in many ways. One hard struggle lead to the next. The later events all started with the crash of the stock market. This period can only be explained by its name. So, the stock market crash in the United States caused businesses toRead MoreThe Great Depression Effects On The United States2949 Words   |  12 Pagesâ€Å"The Great Depression was the most severe, prolonged economic crisis in American History. It displaced thousands of families, created hardships for millions of people, shaped an entire generation, and reshaped the way Americans viewed the role of their government,† (Cravens). Although the Great Depression had devastating effects on the United States, its impacts on family life and structure were the most devastating. Children had to take on more responsibilities by attempting to find jobs in a marketRead MoreCauses and Effects of The Great Depression in the United States1238 Words   |  5 PagesThe Great Depression is a defining moment in time for not only American, but world history. This was a time that caused political, economical, and social unrest. Not only did the Great Depression cause a world wide panic, it also caused a world wide crisis unlike any before it. This paper will analyze both the causes and the effects of the Great Depression in the United States of America. One cause of the depression is the effects of World War One. World War one had many devastating effects onRead MoreThe United States Economy During The Great Depression1464 Words   |  6 Pages The United States economy has never been as great nor as equal as it was during the late 1940s-1970s, a period commonly known as the Great Compression. It is extremely ironic that the United States economy boomed and strived after only a few years succeeding the Great Depression. One may ask what stirred this dramatic change from a damaged economy to one that was striving and strong in so little time. To answer this question, one must look closely at the history of the United States economy. To