The Causes And Overview Of The Great Depression
At the end of the 1920s, a worldwide depression impacted countries with market economies. Comparatively, while many other countries witnessed minor effects, the United States faced the severity of what was known as the Great Depression. In the years before the depression hit, the early 1920s, also known as the Roaring Twenties, lead the nation into economic growth and the Americans into a consumer society. Towards the end of the decade, mass consumerism lead to overproduction, which placed many farmers and manufacturers into debt. Factories and stores began to close down and many individuals found themselves without work. The breadth and depths of the Great Depression, spanning from 1929 to 1939, brought economic hardships on all workers, famers, and families across the nation.
Causes and Significant Events It is believed that several causes and significant events contributed to the onset of the Great Depression. One of the greatest factors was the imbalance between the wealthy and the …show more content…
Under the direction of Roosevelt, the Government also intervened in the lives of American people on a greater level, leading to the creation of welfare systems, and new policies that supported agriculture and industries by limiting production and increasing prices, (WGBH, 2013). During this time the nation also saw a rise in crime rates, mostly involving theft burglary, and felony charges. Suicide was on the rise as many workers felt pressure or stress during this trying time, and if workers were not banding together within labor unions, many were migrating to other countries in search of employment, (WGBH, 2013). The lack of opportunities to seek a higher education was also becoming a realization for Americans, forcing many to give up