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 …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 …show more content…
The Social Security Act of 1935 also brought stability back to people by providing unemployment, disability, and pensions for old age. Eight years from the start of the depression, in 1937, a recession hit which caused a temporary economic slowdown, which was cause partially by the Federal Reserve’s increase in money for the reserve; this forced Roosevelt to increase the work relief programs to the highest level ever, (Taylor, 2013). This drawback, although prolonged the road to recovery, did not put a halt to it completely. When World War II began, it was a turning point for the nation as factories were supplying the American war effort and this brought the stimulus needed to bring the depression near a close, (Smiley, 2008). Unemployment declined drastically, military service enlistments increased, and for consumers the recovery came with the war’s end in 1945. By this time, people could buy products that were unavailable during war, or unaffordable during the 1930s, (Smiley,
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 …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 …show more content…
The Social Security Act of 1935 also brought stability back to people by providing unemployment, disability, and pensions for old age. Eight years from the start of the depression, in 1937, a recession hit which caused a temporary economic slowdown, which was cause partially by the Federal Reserve’s increase in money for the reserve; this forced Roosevelt to increase the work relief programs to the highest level ever, (Taylor, 2013). This drawback, although prolonged the road to recovery, did not put a halt to it completely. When World War II began, it was a turning point for the nation as factories were supplying the American war effort and this brought the stimulus needed to bring the depression near a close, (Smiley, 2008). Unemployment declined drastically, military service enlistments increased, and for consumers the recovery came with the war’s end in 1945. By this time, people could buy products that were unavailable during war, or unaffordable during the 1930s, (Smiley,