Essay on The Great Depression

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The Great Depression

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The Great Depression was a severe worldwide economic depression in the decade before World War II. The timing of the Great Depression varied across nations. But it most countries is started in 1930 and lasted until the late 1930s or middle 1940s. It was the longest, deepest, and most widespread depression of the 20th century. The Great Depression is commonly used as an example of how far the world's economy can decline. The depression in the U.S. originated after the fall in stock prices that began around September 4th, 1929, and became worldwide news with the stock market crash on October 29th, 1929. The Great Depression had devastating effects in countries rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade failed by more than 50%. The unemployment rate in the U.S. rose to 25%. People lost their jobs and only way of income. Cities all around the world were hit hard, especially those which were dependent on heavy industry. Construction was virtually stopped in many countries. Farming and rural areas suffered as crop prices fell by almost 60%. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as cash cropping, mining, and logging suffered the most. There were multiple causes for the first downturn in 1929. These include the structural weaknesses and specific events that turned it into a major depression and the

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Nevada Great Depression

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Great Depression Causes

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Many people were affected by the Great Depression. After the stock market crash in 1929, the country changed in a lot of way. Many people lost their jobs because of this downturn in the economy. During the Great Depression practically every person had to adjust to a different way of living than what they were used to. This tells how life changed for all Americans. During this time many children didn’t receive education because many communities had to close their schools down during the 1932-1933…

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Causes Of The Great Depression

First of all, The Great Depression became one of the most extreme monetary scenarios the world had ever seen. It all commenced for the duration of overdue 1920’s and lasted till 1930’s. President Hoover also 31st president of the United States did not understand the complexity of the true damage that was coming in these coming years. Although the beginning of melancholy turned into United Sates with United States Economy being fantastically correlated with the international economic system, the…

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5/1/10 The unemployment rates of the United States today compared to the rate during the Great Depression is drastically different. During the Depression, up to 25% of the U.S. population was without a job. Nowadays however, only 9.3% were jobless over the past year. New Jersey specifically had an unemployment rate of about 9.2%; still quite high, though looked at next to the numbers of the Great Depression it is clearly much better. I will now elaborate on how these unemployment rate percentages…

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