How Did The Great Depression Affect The Economy

The Great Depression The Great Depression is one of the worst financial drops and drawbacks in history. It was caused mainly by the stock market crash in 1929 and happened right after ‘The Roaring Twenties’ as people now know as an era of glamour and luxury, which made it a much more difficult situation to experience for certain people. It made such a huge impact since it happened in the United States of America which is one of the biggest country in terms of business and success. It did not occur specifically in the United States alone, it happened to many other countries outside of the US. It affected countries like Japan, Britain, Germany, France, Italy, and more. Which shows that it affected countries that also had an industrial economic
Back then, the government greatly intervened with the country’s economy to a point where it had almost controlled it, and had unlimited control over providing jobs and financial stability to the citizens of the United States. Though it had received a tonne of backlash, it had had such a beneficial impact towards the country where to this day, people are still protesting for a rise in aid for the needy, a fairer share of wealth among the people, and for more government intervention.
Unlike his Republican counterpart, Herbert Hoover, Roosevelt was able to help millions of citizens rise against the Great Depression and gave them their old lives back, with getting back their jobs and getting their old pay, et cetera, no matter how much disapproval he got from the higher power such as the Supreme Court, et cetera. While Hoover preferred to sit back and let it die down, which could potentially worsen the state, Roosevelt did the exact opposite and took action quickly, which led to the rise of the nation once again after one of the biggest economic downfalls in