The Great Depression was an event that let the world realize how the world’s economy can suffer a severe downfall. The Great Depression was a harsh worldwide economic depression that lasted till 1940. There were several important events that happened during the Great Depression which lead to the decline of the world’s economy. The Great Depression was the worst economic depression in the United States. The Stock Market, bank runs and bank failures, and the uneven distribution of income are some of the main causes of the Great Depression. The Stock Market was one of the major causes that lead to the Great Depression. Operating banks made numerous loans available for stock speculation. This allowed for the buying and selling of stock without
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Many people said the rich got richer and the poor got poorer. The income of the wealthy people, which was 1%, rose by 75%, while the rest of the Americans increased by 9%. Many Americans were purchasing high cost items on installment plans. Productivity increased everyday, but the wages and prices remained stationery. Factories were making products but nobody was buying them. Wages for workers were not increasing so workers couldn’t afford the products being produced. There were a small number of workers that actually could afford the products. High tariffs and the lack of money in Europe stopped the products from being sold overseas. Farm income also also dropped during the 1920s due to surpluses and overproduction. The price of land had dropped and the income for farm families wasn 't a lot. Thirty percent of Americans lived on farms, so the problems in farming had a large impact on those …show more content…
Roosevelt’s New Deal permanently changed the federal government 's relationship with the populace. The New Deal seemed to solve problems by creating more jobs, creating better help and support from the government because they created many labor laws. The New Deal solved many of their problems through public works because public work would provide Americans jobs and the government would not be spending. The New Deal had a large impact on arts and letters during the 1930s. Many artists worked the New Deal projects. The Federal Art Project paid artists a living wage to produce art. Additionally, to form social changes, they mostly used art. Roosevelt used the alphabet’s letters as he improved the economy, which was called the Alphabet
Many people said the rich got richer and the poor got poorer. The income of the wealthy people, which was 1%, rose by 75%, while the rest of the Americans increased by 9%. Many Americans were purchasing high cost items on installment plans. Productivity increased everyday, but the wages and prices remained stationery. Factories were making products but nobody was buying them. Wages for workers were not increasing so workers couldn’t afford the products being produced. There were a small number of workers that actually could afford the products. High tariffs and the lack of money in Europe stopped the products from being sold overseas. Farm income also also dropped during the 1920s due to surpluses and overproduction. The price of land had dropped and the income for farm families wasn 't a lot. Thirty percent of Americans lived on farms, so the problems in farming had a large impact on those …show more content…
Roosevelt’s New Deal permanently changed the federal government 's relationship with the populace. The New Deal seemed to solve problems by creating more jobs, creating better help and support from the government because they created many labor laws. The New Deal solved many of their problems through public works because public work would provide Americans jobs and the government would not be spending. The New Deal had a large impact on arts and letters during the 1930s. Many artists worked the New Deal projects. The Federal Art Project paid artists a living wage to produce art. Additionally, to form social changes, they mostly used art. Roosevelt used the alphabet’s letters as he improved the economy, which was called the Alphabet