The Great Depression Essay -- American History

The causes and far-reaching effects of The Great slump are examined. Discussion includes its impact on both American cultures and nations around the realism. The role of World fight II and the New Deal in everyplacecoming the Depression are explored.The Great Depression began in October 1929, when the stock market in the United States dropped rapidly. Thousands of investors lost all(prenominal) of their of money and were forced to live on the streets often going without food. This butt in lead into the Great Depression. The ensuing period of 10 years be as the worst period of high unemployment and low business legal action in modern times. Banks, stores, and factories were closed and left millions of Americans jobless, homeless, and without food. Many people came to await on the disposal or charity to provide them with food. The Depression became a worldwide business slump of the 1930s that affected almost all nations. It guide to a sharp decline in world trade as each co untry tried to protect their own industries. The Depression led to political turmoil in many countries such as Germany where poor people economic conditions helped lead to the rise of Hitler. Franklin D. Roosevelt was elected President in 1932 and his new deal reforms gave the government more power and helped slow the depression. The Great Depression ended as nations increased their production of war materials at the start of World War II. This increased production provided jobs and put large amounts of money back into circulation. several(prenominal) factors led to the great depression. One being the lack of diversification in the American economy. The prosperity of America had been basically dependent on a few industries like construction and the automobile and in the late 20s these industr... ...l dearth and Bennett cut back on government spending. A great preventative on the country was Canadian National Railway, the government had to take over many railways and from that to ok in a debt of over two billion dollars. later seeing president Roosevelts New Deal policy having good results in the U.S. Bennett introduced policies based on the New Deal. Bennett started up minimum wage and unemployment insurance. moreover Bennetts attempts to revive the economy were not nearly as successful as Roosevelts. as a result the depression was worse in Canada than in the U.S., and this led to the defeat of Bennett in the 1935 election to liberal Mackenzie King. Like in the U.S. the Great Depression did not end until the outbreak of the second world war. A boost in the economy was created by a pissed demand of Canadian goods in Europe and an increase of government spending.(ibid)