Preview

How Did The Great Depression Affect The Economy

Good Essays
Open Document
Open Document
434 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
How Did The Great Depression Affect The Economy
On October 29, 1929, “Black Tuesday,” the successful stock market crashed and the house of cards fell. The Great Depression began, marking the worst economic downturn in the history of the United States of America. The economy plummeted and unemployment skyrocketed. Henry Ford had to close several factories in Detroit in 1931, putting 75,000 people of their jobs. By 1933, 25% of the American public was unemployed. Tariffs, war debt, crisis in farmland, accessible credit and an unequal distribution of income promoted the Great Depression. Tariffs and extreme war debt policies negatively impacted the foreign market for American goods. In 1930, the Hawley Smoot Tariff Act (the highest United States tariff) placed a tax on over 20,000 imported
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Satisfactory Essays

    How Did Black Tuesday React To The Great Depression
    • 232 Words
    • 1 Page

    How Did Black Tuesday React To The Great Depression

    The economy of the United States expanded greatly through the 1920's reaching its climax in August 1929. By this point, production had already declined and unemployment was at an all-time high, leaving stocks to imitate their real value. During the stock market crash of 1929, better known as Black Tuesday, investors traded vast numbers of shares in a single day, causing billions of dollars to be lost and millions of investors to be eliminated. This "crash" signaled the beginning of a decade long Great Depression that would affect all Western industrialized nations; a crash that would later become known as one of the darkest, longest lasting, economic downturns in American history. People all around the world suffered greatly as personal income,…

    • 232 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Better Essays

    How Did Hoover React To The Great Depression
    • 2080 Words
    • 9 Pages

    How Did Hoover React To The Great Depression

    The day in which grief struck is referred to as Black Tuesday, the day when the stock market crashed. That marked the date when the Great Depression officially started. The stock market prices crashed in such a way that there was no reality in which they will be able to rise again. A long period of panic and fear struck the United States and there was a recession in terms of stock prices. Many people tried as they could to sell their stock, but no one was ready to buy because of their bankruptcy.…

    • 2080 Words
    • 9 Pages
    Better Essays
    Read More
  • Good Essays

    How Did The Great Depression Affect The Economy Of The 1920's
    • 362 Words
    • 2 Pages

    How Did The Great Depression Affect The Economy Of The 1920's

    Imagine that you came home tonight and you had just come home and you found out that your father had just lost his job. That you didn’t know where your next meal was coming from and that you were also going to lose your house. That all your money in the bank had just disappeared and that you were never going to see it again. All your crops had shriveled up because of the dust storms and that it was getting into your well and that it was your only supply of water. The Great Depression impacted the economic prosperity for blacks and whites in the United States.…

    • 362 Words
    • 2 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    President Roosevelt's Administration During The Great Depression
    • 559 Words
    • 3 Pages

    President Roosevelt's Administration During The Great Depression

    The Great Depression was catalysed by the stock market crash of October 1929. The "Roaring Twenties" was a decade that had seen unparalleled economic success for the United States, and both the citizens and government expected it to remain that way. Risky business practices such as the quick buying and selling of shares and lack of information on the state of the economy all served as contributors to the market's plummet. After the crash on "Black Tuesday" (October 29, 1929) the economic health of the United States continued it's decline into the Great Depression. At the time of the crash, President Herbet Hoover believed that the Federal government should not play an active role in helping the economy, and believed that it was best to stand…

    • 559 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    How Did The Great Depression Affect The Economy
    • 946 Words
    • 4 Pages

    How Did The Great Depression Affect The Economy

    The great depression was caused mainly due to the Stock Market Crash of 1929. This was a widespread panic that hurt investors and cost many people their jobs. On the infamous date where the stock market began to crash, investors rushed to get their investments out of the market before it was too late. Individuals also ran to banks to get their money out of the banks but it was impossible for the banks to give everyone all of their money because they had invested a large proportion of the people’s money into the stock market. Banks cannot just grab every person that has money in their bank out at one time, it is a process to do so when everybody tried to get their money at once a panic occurred.…

    • 946 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    How Did The Great Depression Affect The Economy
    • 1031 Words
    • 5 Pages

    How Did The Great Depression Affect The Economy

    Home The Great Depression: a conflict over an economic downfall. Sophia Bosi Junior Division Individual Website Process Paper: 336 Words Total words on website: The Great Depression caused extreme poverty and job loss throughout America during the 1930s. This economic downfall led to the abandonment of the Gold standard, FDR's New Deal programs, and increased the size of the federal government.…

    • 1031 Words
    • 5 Pages
    Better Essays
    Read More
  • Powerful Essays

    How Did The Great Depression Affect The Economy
    • 1022 Words
    • 5 Pages

    How Did The Great Depression Affect The Economy

    Ryan Fiala Dr. Diaz Hist 2310 21 April, 2016 Labor Issues During the Great Depression The Great Depression was the deepest and longest economic downturn in the history of the west. The Great Depression began shortly after the stock market crash during 1929, the end of the Roaring Twenties.…

    • 1022 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    How Did The Great Depression Affect The Economy
    • 923 Words
    • 4 Pages

    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.…

    • 923 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    How Did The Great Depression Affect The Economy
    • 1463 Words
    • 6 Pages

    How Did The Great Depression Affect The Economy

    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
    Read More
  • Good Essays

    How Did The Great Depression Changed America
    • 432 Words
    • 2 Pages

    How Did The Great Depression Changed America

    The Great Depression was an important time in U.S history; it also affected other parts of the world. It began in 1929 after the Stock Market Crash of Wall Street until 1939. It was the worst and longest economic collapse in the history of the world. Most factories closed or slowed down, and banks and businesses closed down. Americans lost their homes, jobs, and savings because of this; they also depended on charities to survive this era.…

    • 432 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    How Did The Great Depression Affect The Economy
    • 844 Words
    • 4 Pages

    How Did The Great Depression Affect The Economy

    The stock market crash of 1929 negatively affected millions of Americans by decreasing the economy, turning millions of money into nothing, hurting our agriculture, and doubling the unemployment rate. It was an austere time for Americans as they tried to find jobs to sustain their families, and it lasted for about a decade. The stock market crash became known to everyone as the Great Depression, which started in October of 1929. The stock market prices were gradually dropping, and economic uncertainty finally won over Americans.…

    • 844 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    How Did The Great Depression Contribute To The Downfall Of American Society
    • 1641 Words
    • 7 Pages

    How Did The Great Depression Contribute To The Downfall Of American Society

    There have been many downfalls throughout the history of America such as both of the World Wars, the many unnecessary deaths of several Americans throughout these wars, and much more, but this downfall overtakes them all. The Great Depression began on Black Tuesday, October 29, 1929. The stock market crashed creating a terrible life for all Americans and others across the globe. Herbert Hoover, president at the time, could not stop the fall. Not just the stock market crashed, but as did many humans lives.…

    • 1641 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    How Did The Great Depression Affect The Economy
    • 3349 Words
    • 14 Pages

    How Did The Great Depression Affect The Economy

    Like us, many of you had a loved one that lived during the Great Depression. Many of us have heard stories from our parents or grandparents of the horrific times of the depression; stories that told us how hard it was to find a job, put food on the table, and to provide shelter for the family. Learning how to live without things was a battle all by itself. Hearing the stories made me grateful to be born in a different era. However, each era has it 's own battles to fight that will change the direction of the economy and maybe the world.…

    • 3349 Words
    • 14 Pages
    Powerful Essays
    Read More
  • Good Essays

    The New Deal: The Effects Of The Great Depression
    • 325 Words
    • 2 Pages

    The New Deal: The Effects Of The Great Depression

    A period of time known as the Great Depression was the most severe and sustained economic enfeeblement in the United States. This harsh drawback in the country eventually ensued soon after the stock market crash, also known as Black Tuesday, in 1929, where Wall Street experienced extreme panic and lost many investors. Declines in industry and the rise of unemployment came about due to the plummeting of consumer spending and investments. President Franklin D. Roosevelt though helped to lessen the effects of the Great Depression through relief and reform. His administration and establishment of the New Deal greatly impacted unemployment, labor unrest, the economy, and the government during the period 1929-1941.…

    • 325 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Black Tuesday And The Great Depression
    • 910 Words
    • 4 Pages

    Black Tuesday And The Great Depression

    The Great Depression The Problem The stock market crashed on October 29, 1929 and was dubbed the term Black Tuesday. This was the foundation that led to the great depression. While they were several contributing factors that caused the Great Depression, the stock market crash is arguably the most affective determining factor.…

    • 910 Words
    • 4 Pages
    Good Essays
    Read More