Does anyone exactly know the number of people that lost their jobs between the years of 1932 to 1936? Over 13 million Americans lost their jobs as the unemployment rate skyrocketed from 3% to 25% in less than a year. The Great Depression was a monumental time in U.S. history as it defined the generation after it and punished those who lived through it. There is a surplus of possible reasons for the depression, but it can be narrowed down to 3 words: surplus, credit, and Government. With no actual consensus on the matter, these 3 words are the most debated on.
One possible reason for the economic crash was the downfall of the farming industry. Farmers were farming food as fast and plentiful as they could for the longest time. When the crash …show more content…
The 1920s brought a slew of new and exciting things with it, one being the credit system. This allowed people to buy things then and there, and pay later. The only problem was that a monumental amount of people couldn’t pay what they promised to. With no one paying, and owning things they could not afford, eventually those items were taken away, as no one was getting their money. Stocks plummeted and as the banks closed, no one was able to receive the money that was rightfully theirs. The surge of new goods in the roaring twenties was to enticing for most.
The final probable reason for the collapse of the American economy would have to be our own Government. At the time, the Government was never expected to actually help people out physically. Hoover tried to eventually help the nation out, but it was too late. The nation’s citizens developed a loathing towards President Hoover. Without the help of the federal Government, the economy quickly collapsed, and as no one knew how to fix it, there was no stopping it. This alone may have been the biggest cause of the Great Depression.
In conclusion, there is many possible reasons for the economic crash of the 1930s. From farming surplus to our own federal government, there might never be a definite
One possible reason for the economic crash was the downfall of the farming industry. Farmers were farming food as fast and plentiful as they could for the longest time. When the crash …show more content…
The 1920s brought a slew of new and exciting things with it, one being the credit system. This allowed people to buy things then and there, and pay later. The only problem was that a monumental amount of people couldn’t pay what they promised to. With no one paying, and owning things they could not afford, eventually those items were taken away, as no one was getting their money. Stocks plummeted and as the banks closed, no one was able to receive the money that was rightfully theirs. The surge of new goods in the roaring twenties was to enticing for most.
The final probable reason for the collapse of the American economy would have to be our own Government. At the time, the Government was never expected to actually help people out physically. Hoover tried to eventually help the nation out, but it was too late. The nation’s citizens developed a loathing towards President Hoover. Without the help of the federal Government, the economy quickly collapsed, and as no one knew how to fix it, there was no stopping it. This alone may have been the biggest cause of the Great Depression.
In conclusion, there is many possible reasons for the economic crash of the 1930s. From farming surplus to our own federal government, there might never be a definite