The Quality Of Life During The Great Depression

The Great Depression, starting in the early 1930’s, was a devastating event putting millions out of work and destroying the economy of the time with frozen credit and deflation. The Great Depression left people of the United States hungry and scrambling to find jobs where there were none. Starting with the stock market crash, banks failing, and farmers left in shambles after World War I, it caused people to lose jobs leaving them on the streets unable to find new places of work because many companies had gone out of business. Despite the downsides of the Great Depression it set the groundwork for many things that better quality of life and financial stability of the country today. The quality of life during the great depression had people unsure about their future and unsure if they’d make it through the next day. People had to pay high taxes and were cornered into taking food from soup kitchens and other charity organizations. The people of the time
Even today economists try to pinpoint the true reason the depression started to avoid ever repeating history. The start of the depression lead into the suffering and hopelessness felt during the depression and of course allowed economists and the US government to learn and put in place the groundwork for many modern policies helping to keep the economy alive today. The groundwork laid out by the depression has allowed economists to learn more about what can harm the economy and given people of today the foundation for financial safety nets and allowed the government to intervene with private business to make it safer for the people involved and for the economy. One of the the problems with the economics of the 1930’s is that it can allow monopolies to emerge, “Monopolies can charge higher prices, restrict supply, and those firms with monopsony power can pay lower wages to