How Did The Great Depression Affect The Economy In The 1930s

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During the 1930’s, millions of people were affected by an economic crisis. This economic failure was called The Great Depression. When the economy started failing and businesses closed, people lost faith in the government. “When Franklin Delano Roosevelt was elected president in 1932, he inherited a nation in the pits of an economic crisis that cost millions their livelihoods and life savings (Great New Deal).” Eventually, the Congress passed 2 New Deals to help bring the economy up, and help in many other needed areas (Alchin). These New Deals that were passed, allowed people to put their trust in the government (Great Depression). During the time frame of 1933-1934 the First New Deal was passed (Alchin). The First New Deal was made to set …show more content…
When the 1930s hit, the economy dramatically declined. The era of 1920 was labeled the “Roaring Twenties” (The Roaring Twenties). It was named the roaring twenties because the economy was on a rise. Although, a decade later, the economy plummeted. The economy majorly decreased because of many reasons. One major reason, was the decline of people spending money (Great Depression).
The effect of people spending less caused a decrease in demand for products (Great Depression). A quote from Britannica states, “The economic impact of the Great Depression was enormous, including both extreme human suffering and profound changes in economic policy (Great Depression).” The New Deal provided trust towards the government that they would help turn the economy around (Achlin). The economic crash affected everyone and caused people great fear of what could happen …show more content…
Economic growth occurred after the nation was told to follow the new laws and in time the economy would bring itself up. These new laws helped build a stronger future by providing stronger laws (Achlin). Temporary jobs was provided by the government to financially support people through this rough economic patch (Achlin). These jobs enabled building a whole new outlook by not only providing a job, but by building important buildings, roads and bridges, increased wildlife, and made water sources available by irrigation systems (Achlin). These New Deals helped build stronger laws and changed the terrain aspect of
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