Economic Impacts Of The Great Depression

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The Great Depression began in 1929 and lasted almost 10 years; It was a time period when the America had the most severe economic. The majority of American left their home with dream to earn money to support their family; even teenagers left school to get a chance to work in order to find a better life on their own. People who found a work during the Great Depression would have a bad living condition provided. The owner housed them with a shanty, barn, or even an open field. However, the wage dropped dramatically since the large amount of workers came for works, even if the whole family had work, the money would not be enough to support them. The Great Depression affected every American. The unregulated bank is one of the long …show more content…
Buying magin also is a significant factor that causes the stock market crash of 1929. In the 1920s, it was popular for people to buy stock at a lower price and sell them for profit. Until 1929, stock market investors began to sell their stock which causes the stock price fall dramatically. Due to the Black Tuesday, people were not willing to buy stock because of the plummeting price which cause the market crashed. Herbert Hoover was nominated in 1928 and became the president of the United Stated in 1929. He believed in individualism and the government should not go in debt so he was not allowing the government to help or give money to people. Since the large amount of workers came for work, they had a lower chance to get hired. At the same time, government was not giving any help to them which prolong the depression. President Franklin D, Roosevelt was elected in 1933. He enacted the New Deal that gave reform, relief, and recovery to the United States. It is a series of programs that give relief for the unemployed, recover the economic problem, and reform the society and economic system. The New Deal is a success because the American definatly got relief, reform, and recover from the …show more content…
It also became a reason to prove that the New Deal was a success. From document 1, a teenager stated that the program gave him work and he got paid for it, and it definitely gave relief to his family from his necessary demand for money. This program benefited both teenagers and adults. Teenager could earn little money in order to help the family; at the same time, the government provide education for them so they can stay in school while their parent were left. The adults also benefited from the program because they don’t have to worry about their children’s education and their children can earn money for themselves while their parents were completing a work with others in the outside society. This proves the New Deal is a success because it gave relief to the youth and adult. In addition, document 5 shows the unemployment rate from 1933 to 1945. The New Deal started in 1933 when FDR was elected the president of America. The unemployment rate dropped from 20.6% in 1933 to 9.1% in 1937. In these 4 year, the rate dropped nearly 11% and had never been raising until 1938. In 1938, the rate increased to 12.5% but after few years it dropped to 4.7%. This data can best conclude that the New Deal was a success because the unemployment rate dropped nearly 16% from the beginning of the New Deal. Lastly, document 6 also proved that the New Deal was a

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