The Rise Of The Great Depression Essay - 2163 Words

By the end of the 1920s, the United States had the largest economy in the world. With the destruction brought on by WWI, Europeans endured hardships while Americans continued to thrive. Upon a successful victory of the presidency, Herbert Hoover didn’t have a doubt that the United States would soon witness the day when poverty was exterminated. Then, in a moment of what seemed to be triumph, everything collapsed in the U.S. With the stock market crashing in 1929, it set off a chain of events that catapulted the U.S. into the longest and deepest economic crisis it had ever seen. It is far too easy to put the blame of the Great Depression on one event, but when there is poor investing over time with the lack of government programs and a drop in consumer purchasing power due to the market collapse it can delay the process of fixing the economy for future leaders. It is far too simple to view the stock market crash as the only cause of the Great Depression. A fit economy can be re vived from such devastation. Long-term causes sent the nation into a downward slope of despair. American firms acquired substantial profits during the 1920s and immediately reinvested most of the funds into expansion. By 1929, companies had come to the bubble point. Workers couldn’t continue to help further expansion, so a slowdown was unpreventable. While corporate profits soared and wages improved over time, so did the spread of the distribution of wealth. The richest people of American had overShow MoreRelatedThe Rise Of The Great Depression1217 Words   |  5 Pagesnosedive that the post industrialized world has ever seen, The Great Depression. This depression affected nearly every country of the world, touching American society for roughly a decade from late 1929 thru approximately 1939. Many have accredited the infamous stock market crash of October 24, 1929, as being the singular cause of the Great Depression, which was not entirely true. While the stock market cras h was highly related to the great loss of paper wealth, and the devastation of American optimismRead MoreThe Rise Of The Great Depression1260 Words   |  6 PagesThere were many depressions throughout the world that happened at different times. The greatest and longest occurred in the United States when the stock market crashed in October 1929. This marked the beginning of a major event that helped shape the economy in the 20th century but that does not mean the economy was perfect. There is no such thing as a perfect economy but from what economists know from the past depressions, they are trying to formulate an economy that is most efficient. Yes, thereRead MoreThe Rise Of The Great Depression1161 Words   |  5 PagesThe stock market crash was the starting point of the great depression. Right after the stock market crash people were grasped by all kinds of problems. Although most of the people got effected by it, but mostly working class or middle class men got effected by it. People were enjoying a very prosperous time before the Great Depression. However, this disaster led people to poverty, hunger, homelessness. The Great Depression had a huge impact on American man in terms of unemployment, homelessness,Read MoreThe Rise Of The Great Depression1407 Words   |  6 PagesThis event and other factors contributed to the prevalence of the Great Depression. During this period of an economic recession, most Americans were affected by the drastic effects: life savings were lost, unemployment reached its highest of about 25 percent nationally and 80 percent in some industrial northern cities, and hunger, poverty, and homelessness escalated among countless families (Stewart 10). Many considered the Depression era to be one of the worst and longest economic decline in the historyRead MoreThe Rise Of The Great Depression1183 Words   |  5 PagesOn October 29 , 1929 marked one of the hardest times in history know as the Great Depression. It has also been known as the Black Tuesday. On this day the stock market crashed. On October 29,1929 people all over the country were panicking not knowing what to do . Their were many causes on what lead to the great depression. People tried selling their stocks that they had bought before the stock market crashed, but no one would purchase them since the stock market crashed stocks were worthlessRead MoreThe Rise Of The Great Depression1283 Words   |  6 Pagesfirst and possibly only thing that would come to mind is the Great Depression. Started by the stock market crash of October 1929, it had put many of the investors into an economic downspin. This caused consumer spending and investments to drop dramatically, â€Å"investments fell nearly 80 percent between 1929 and 1933†^1. This also led many companies to go out of business forcing them to lay off their employees. At the peak of the Great Depression around thirteen million Americans were unemployed. This alsoRead MoreThe Nazi Rise to Power Was Essentially Linked to the Great Depression1898 Words   |  8 Pagesâ€Å"The Nazi rise to power was essentially linked to the Great Depression† (Holtfriech). To what extent do you agree with this statement? After all the hard work put in by the Nazis over several years in order to access rise to power, President Hindenburg finally appointed Hitler as Chancellor of Germany on 30th January 1933. Many historians have argued about how this all came about, however one in particular, Holtfriech, believes their rise to power was all due to the Great Depression, which wasRead MoreThe Great Depression and Unemployment: Discussion Questions1271 Words   |  5 Pagesï » ¿Principles of Macroeconomics 1 ________________________________________________________________________ Q. 2: The Great Depression The Great Depression started in 1930 and lasted until 1939. It can be regarded as the worst depression the world has ever seen in the history. Spread across various nations, the Great Depression badly hampered each and every aspect of the economic, business, political, and social life. The most affected regions due to this economic slump were North America, EuropeRead MoreDid the Treaty of Versailles Promote Hitler to Power846 Words   |  4 Pagesthat the Treaty of Versailles made Hitler’s rise to power, and his starting of WWII, inevitable. However, this mode of explanation is a deeply flawed oversimplification. The Treaty of Versailles did not make WWII inevitable because the independent forces of the Great Depression and Japanese expansion also played key roles, and because nationalism was most likely to arise in Germany even if there were less harsh terms to the treaty. The Great Depression was among the most important factors in creatingRead MoreThe Effect of the Great Depression on Hitlers Power Essay949 Words   |  4 Pagesthe Great Depression on Hitlers Power There is no simple answer as to why Hitler became chancellor in January 1933. There are a number of causal factors which all contributed to his rise into power. Any of the factors, on its own, however, would not have resulted in his appointment. They are all linked in a web of causation and if any of the factors were missing, Hitler would not have been appointed chancellor. Of the factors I would say that the Great Depression was