Did the Great Depression completely destroyed America economically in the twentieth century? During the twentieth century, America experience one of the most long and influential depressions, the great depression. Which left a historical memory for the entire nation. Some of this struggles that were faced were the bank failures, the stock market crash, and the loss of industries which concluded to unemployment for the citizens. The causes of the depression was the corruption of the Jazz Age as Robert S. McElvaine mentioned “It is difficult to think of the time as anything but the Roaring Twenties, the years of flappers, the Charleston, bathtub gin, petting parties, and the Slutz Bearcat. These were the days when America Withdrew from the world and went into an orgy of self-indulgence.” (McElvanie 13) In other words, Americans citizens had spent money that they didn’t have, on things that they believed were necessary. Therefore, the country couldn’t stabilize the amount of money that was lost, until ultimately it crash along with the banks, some industries, and the whole countries population. Although all of this issues attacked America, the country didn’t fall, because the great depression was not as severe as to crash America completely. Moreover, the issues that were avoided during the great depression are economical disasters, the collapse of the country and its people, and political rebellions. To begin with, during the Great Depression the economic disaster was the major outcome of this issue. The United States of America system which was involved to preserve the society’s money had collapsed, which lead to the start of an unstable America, and massive unemployment. On the other hand, this economic disaster avoided even greater conflicts during the depression such as complete poverty, overthrown by other countries, and the loss of the markets. America could have suffer an enormous poverty which could have completely destroyed the nation, but instead leaders were stable and had control over the depression. Moreover, an overthrown of the country could have happened, America was vulnerable during the depression, and any country with power that was against the American nation could have overthrown it. But, America still had control over their own country which lessen the possibility of being attack. Also, during the depression the loss of the American products didn’t crash, it was still stable and Americans did not lose any of their market economy. Moreover, the leader’s response towards this economic depression was to establish programs from the New Deal, such as the Reconstruction Finance Corporation (RFC).
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Which had the purpose to lend money to the nation to stabilize the economy efficiently during the depression. Although Jim Powel believed the contrary, he claimed that the New Deal had the contrary purpose of an assistance for the citizens, but it was a made only to make everything more expensive. (Powel 49). It is believed that the economy was fatal, but it could have led to more drastic consequences, and thankfully it did not. In the present, America is aware of how the economy tumble to its disaster, which is why know there are precautions that are taken in consideration to prevent this collapse from happening again. Such precautions are the improvements of the banking systems, and the control over their citizen’s investments. Second of all, during the great depression Americans avoided the collapse of the country along with the people. For instance, the total collapse of the American industries or business, such as meat industries which would have cause lack of food consumption for the country. As McElvanie mentions; The Panic of 1893 was America’s worst depression in the nineteenth century. Real income of Americans is estimated to have dropped some 18 percent between 1892 and 1894. That depression led to massive unemployment, which in turn fueled protest. Workers were angry and ready to undertake cooperative and, in some cases, radical action. These facts alarmed middleclass Americans, some of whom believed revolution might be imminent, particularly since the farm belts of the nation were seething with populism. Under the circumstances, middle America chose to cast its lot with business and dig in to defend economic orthodoxy. (7) Furthermore, another fact that was avoided was a
Which had the purpose to lend money to the nation to stabilize the economy efficiently during the depression. Although Jim Powel believed the contrary, he claimed that the New Deal had the contrary purpose of an assistance for the citizens, but it was a made only to make everything more expensive. (Powel 49). It is believed that the economy was fatal, but it could have led to more drastic consequences, and thankfully it did not. In the present, America is aware of how the economy tumble to its disaster, which is why know there are precautions that are taken in consideration to prevent this collapse from happening again. Such precautions are the improvements of the banking systems, and the control over their citizen’s investments. Second of all, during the great depression Americans avoided the collapse of the country along with the people. For instance, the total collapse of the American industries or business, such as meat industries which would have cause lack of food consumption for the country. As McElvanie mentions; The Panic of 1893 was America’s worst depression in the nineteenth century. Real income of Americans is estimated to have dropped some 18 percent between 1892 and 1894. That depression led to massive unemployment, which in turn fueled protest. Workers were angry and ready to undertake cooperative and, in some cases, radical action. These facts alarmed middleclass Americans, some of whom believed revolution might be imminent, particularly since the farm belts of the nation were seething with populism. Under the circumstances, middle America chose to cast its lot with business and dig in to defend economic orthodoxy. (7) Furthermore, another fact that was avoided was a