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. This time period is important because it pushed the United States into a better economic system to prevent it from happening again. Franklin Delano Roosevelt was the President during the Great Depression era, he was able to sustain the nation through this crisis. The Great Depression changed America socially
and politically. Over 9,000 banks failed throughout the years, bank deposits were also uninsured so people lost their life savings. This crisis shapes how our government works today to ensure this from happening again. The effects of the Great Depression happened across the world and led to the New Deal in America, but more importantly it led to World War II. The New Deal helped many Americans find jobs start to climb out of the Great Depression. That wouldn’t happen today because there are many jobs out in the world that are constantly being fulfilled. Herbert Hoover was the President during the beginning of the Great Depression but didn’t want to give aid to those in need. Then in the 1932 election, citizens elected Franklin Delano Roosevelt and he immediately started creating programs. The New Deal provided many jobs and public housing paid by the government. This administration affected us because most unemployed citizens couldn’t afford home. More than 1.2 million citizens currently live in public housing today. Unemployment rates increased up to 20%. After the New Deal was established. The New Deal built new financial reforms and federal regulations to provide jobs and closure. If it weren’t for Franklin Delano Roosevelt, things would be a lot different in the world today. Franklin Delano Roosevelt created the Social Security Act that introduces social security into the country to ensure that everyone has a pension and insurance to prevent anyone from struggling again. This is important because it provides support and benefits the elderly and unemployed when they could no longer earn a living. Roosevelt’s programs definitely affected the Great Depression and shaped the way our economy works today. Without the Social Security Act and the Public Works Administration, the economy wouldn’t have gotten better. These programs provided many jobs for citizens that needed money and reliability.