“At least in part, the Great Depression was caused by underlying weaknesses and imbalances within the U.S. economy that had been obscured by the boom psychology and speculative euphoria of the 1920s. The Depression exposed those weaknesses, as it did the inability of the nation 's political and financial institutions to cope with the vicious downward economic cycle that had set in by 1930” (“About the Great Depression”). Unemployment rose and wages fell during this time for the people who continued to work. For the businesses, they were all falling through because of the people not having money to buy stuff from them due to not having a job, or had a low paying job. During the great depression the stock markets closed and the banks were losing savings that were other peoples who banked there, people were worried about not ever getting there money, not ever being able to afford a house, car, appliances and other necessary things needed for their families. The great depression was known as the “Economic Slump” in North America, other places started around 1929 and lasted until around 1939. The great depression was the most severe depression that North America ever experienced. “By the beginning of the next decade the United States had gone from a laissez-faire economy that oversaw its own conduct to an economy regulated by the federal government. The debate over which is the best course of action still rages today” (American Culture History). Sincerely, Caleigh Growe.
Works Cited
"American Cultural History." American Cultural History. N.p., n.d. Web. 28 Feb. 2013.
"About the Great Depression." About the Great Depression. N.p., n.d. Web. 12 Feb. 2013
"The Great Depression." Great Depression (1930 's) News. N.p., 11 Feb. 2013. Web. 11 Feb. 2013.
Sutton, Bettye. "1930-1939." American Cultural History. Lone Star College-Kingwood Library, 1999. Web. 7 Feb. 2011.
Cited: "American Cultural History." American Cultural History. N.p., n.d. Web. 28 Feb. 2013. "About the Great Depression." About the Great Depression. N.p., n.d. Web. 12 Feb. 2013 "The Great Depression." Great Depression (1930 's) News. N.p., 11 Feb. 2013. Web. 11 Feb. 2013. Sutton, Bettye. "1930-1939." American Cultural History. Lone Star College-Kingwood Library, 1999. Web. 7 Feb. 2011.
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