The Great Depression: History Of The Western Industrialized World

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“The Great Depression (1929-39) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world.” (The Great Depression). The Great Depression was easily one of the most detrimental things to happen to the United States of America. Not only did It cause temporary turmoil amongst Americans, but it even led to many horrible events such as World War II- “…there was a great disparity between rich and poor. More than 60% of the population was living below poverty levels, while a mere 5% of the wealthiest people in America accounted for 33% of the income, and the richest 1% owned 40% of the nation’s wealth.”( Causes of The Great Depression). Most people automatically attribute the stock market crash as the leading factor to the demise of Americas …show more content…
The stock market crash happened on October 29,1929, it didn’t initially have an immense impact but over the next two months people that held stock had lost well over $40 billion dollars, and the loss continued well into 1930, when the Great Depression had finally began (Kelly).
The stock market crash didn’t only affect stockholders but it completely destroyed the flow of income and revenue. Wall Street didn’t know how to rectify the situation and the rise of unemployment was a quick reminder of how things had changed. Many companies were forced to lay people off as they could no longer afford to stay in business, and “by 1933, when the Great Depression reached its nadir, some 13 to 15 million Americans were unemployed and nearly half of the country’s banks had failed.” (The Great Depression). Bank Failures was also an important issue regarding the structure of The United States failing economy. Banks didn’t not insure their customers money, and when the stocks crashed people were desperate too pull

The Great Depression: History Of The Industrialized Western World

The Great Depression was the longest and deepest economic down fall in the history of the industrialized Western World. It started not long after the stock market crashed on October 1929 that sent Wall Street into a panic and wiped out millions of investors. It put people on the streets. Banks lost money which made people go to get their money withdrawn. Not long after banks started closing down. It affected both working and middle class people. The depression challenged American families…

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The Great Depression In The 1930's

The Great Depression was the worst crash in the history of American stock. Throughout the 1930s, neither the free market or the federal government was able to get the country happy again. The American people faced the worst pain ever. Americans flirted with a number of radical alternate. Some of those radical alternatives faded into memory, while others were incorporated where a few remain with us even today. The early warning signs first came in the agricultural sector. Farmers continued to produce…

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