How Did The Great Depression Affect The Economy In The Twentieth Century

1340 Words 6 Pages
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 …show more content…
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 …show more content…
And finally, citizens deciding to leave the country because of an unsettle America. A prepper citizens, which believed that their country’s future was going to collapse because of its rulers. Moreover, a collapse of all the resources that had held America as a nation was not drastically affected during the great depression. Furthermore, a program was develop to avoid a collapse during the twentieth century named Agricultural Adjustment Act (AAA) which raised the crops, products that farmers were engage with. As Paul Evans from the Department of Economies of Ohio State University claimed, during the depression the government’s policy to solve the financial issues came to a degree where taxes became higher, which aggressively affected their citizens. (Evans 15) According to this, prizes did go higher which was extremely inconvenient but was equally helpful, it lead to a distribution of the products and money invested in it which was fair. As Robert F. Himmelberg claimed “Assessing the history of the twentieth century is a formidable prospect. It has been a period of remarkable transformation. The world broadened and narrowed at the same time” (Himmelberg

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