The Great Depression The Greatest Depression - 1257 Words

The Great Depression was one of the lowest points ever seen in history that began in 1929 and lasted until 1939. It can be defined as an economic slump in North America and Europe, along with other industrialized areas of the world. The Great Depression was the longest, most severe depression ever seen, and experienced by the newly, industrialized Western world. Although there are pros and cons, as it brought in deep social and personal problems as well as a new introduction to thought and culture. Today, economists still argue on what really caused The Great Depression. Today, still there is a minimum understanding on what caused the Great Depression, although there are many theories. In the Unites States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into great panic and wiped out millions of investors. Also many banks failed and went bankrupt, others were forced out of business when depositors began to panic and withdraw money . Furthermore, these failures and panics almost completely shut down the entire country’s banking system. In 1929, there was an increase in the amount of poor people, which led manufacturers to lay off thousands of people, thus creating a greater amount of poor people. The industrialized world was still new, and not everyone knew how to handle it. For instance, farms began to fail because they were producing too much for such a low price; and eventually due to nature these farms began to dryShow MoreRelatedThe Greatest Generation During World War II And The Great Depression2197 Words   |  9 PagesThe Greatest Generation was the generation during World War II and the Great Depression. What made them great were their perseverance, patriotism, and sacrifice throughout the WWII era. 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They traveled togetherRead More Milton Friedman Essay1059 Words   |  5 Pagesaccomplishments and awards he has received, but what about how Milton Friedman played a very important role in helping us get into a huge national debt? This paper will discuss how Milton Friedman played a negative role in our economy. When the Great Depression hit worldwide, it was up to the economists to explain it and to devise a cure for it. A person named John Maynard Keynes came up with an explanation to the economic slump that was so simple people did not think it would work. Keynes explanationRead MoreRichard Wright And The Harlem Renaissance752 Words   |  4 Pagesracism, communism, The Harlem Renaissance, The Great Depression, Jim Crow Laws, and Civil Rights. Wright speaks on and writes about these subject because he was there and they had a direct influence on him as a person of color. Wright, later, wrote about his encounter because he felt as if he could contribute to the Civil Rights cause. 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