Major Cause Of The Great Depression Essays

1668 Words Dec 28th, 2016 7 Pages
Major causes of the Great Depression include technologies, banks loaning money out on credit and government control over trade. Advances in technologies, and government taking control of the nation are causes of the Great Depression.
Technologies like electricity in 1922 helped improve productivity with machines doing the work individuals once did. Now with more time on their hands, people had more time to do recreational activities. New appliances helped the women in the home get their chores done faster leaving time for women to go shopping and purchase more products for the home. Women started seeking jobs outside of the home so that families could afford more products and services. Learning about nutrition helped individuals live longer and healthier lives. (Norton, 2015) Families buying larger items on credit helped banks and businesses grow. While income increased and prices of goods stayed the same, Americans were able to purchase items only the wealthy once could afford, such as cars. With more cars on the road ways, people were coming together to improve roadways. Banks loaned money to individuals, and with the stock market crash in 1929, it left banks without enough money to cover consumers’ deposits, therefore individuals would take their money and hide it in their homes or turn it into gold. President Roosevelt stopped people from being able to withdrawal their money to help the U.S. banking system from failing. Roosevelt established The Emergency Banking…

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