Economic Conditions And The Great Depression Essay

2408 Words Jul 13th, 2016 null Page
Economic Conditions leading to the Great Depression.
The Great Depression otherwise related to as the ‘Economic Collapse’ was a grave moment in the 1930s whereby there was a practical halt in the American capitalism. This actually took place for over a decade as the depression ran from 1929 through to 1940. It was during that duration that America’s economy operated at a level way below what could allow most of her citizens to achieve economic success. It was a rather difficult time with Americans experiencing unprecedented heights of economic collapse and social distress. This, as historically recorded, was the longest and dreadful depression to have ever been experienced across the Western world. Although the Great Depression was originally experienced in the United States, its results; declined output, extreme unemployment, deflation were felt in practically all over the globe. The Great Depression was a worldwide economic catastrophe that was primarily as a result of poor economic conditions.
The tale of the Great Depression can be explained by the chronological litany of preceding bleak statistics. “The Great Depression began in August 1929, when the economic expansion of the Roaring Twenties came to an end. A series of financial crises punctuated the contraction. These crises included a stock market crash in 1929, a series of regional banking panics in 1930 and 1931, and a series of national and international financial crises from 1931 through 1933. The downturn hit…

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