Depression: The Key Factors Of The Great Depression

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The Great Depression

The Great Depression of the 1930’s plunged the American people into an economic crisis unlike any endured in the country before or since. This time period of limited economic growth was caused by a few main factors. Because these certain factors happened, american life was vastly changed until the recovery in the late 1930’s. Though economists are not completely sure why the Great Depression happened, a few key factors do stand out as specifically influencing the economy 's great downturn. The stock market, the buying and selling of stocks precisely know as Wall Street, altered American life greatly and some even claim caused the entire depression. During the 1920’s people wished to make quick money with the stock market.
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People began to lose their jobs since large amounts of businesses began to deteriorate. At one point, over 20 percent of the United States population was unemployed. Millions of people were without homes or work. In 1932, children couldn’t attend schools because they lacked the funds to open. American life was changing, people began taking to the rails and walking the highways living as hobos. Soup kitchens became wildly popular as well as Hoovervilles. Hoovervilles were towns made of cardboard and sheets built by the homeless and named after the president of the United States, Herbert Hoover. Things normal like buttons, became too expensive so items like zippers became popular. Money exchange between people was so low, the U.S. did not mint nickles. The american culture began to change, the song “Brother, Can You Spare a Dime?" by Bing Crosby was the top hit in 1932, showing how widespread this epidemic was no certain group was immune. John Steinbeck wrote "The Grapes of Wrath" and "Of Mice and Men" about the lives of these people and the devastating effects of the Dust Bowl. Farmers became widely poor making barely enough to survive but this is shown in almost all job fields. During the 1930s, manufacturing employees earned about $17 per week. Doctors earned $61 per week. The Great Depression had colossal effects on the American people and how they

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