The Depression Of The Great Depression Essay

1855 Words Nov 21st, 2016 8 Pages
The period of the great depression is one of the most trying socioeconomic challenges ever experienced in the United States. The crashing of the stock market, the failure of numerous banks, and massive loss of jobs marked the Great Depression. During this period, many Americans struggled to meet their daily needs and it often became common to see American citizens begging for food and money in the streets. The Great Depression had a significant impact on the lives of the majority of Americans who either lost their jobs, savings, and even possessions. Various theories exist about the causes of the Great Depression, including the stock market crash and government inaction. While many of these are often thought as theories it is often assumed that the Great Depression was a result of several factors that cumulated into the economic slowdown.
Moreover, the Great Depression in the United States began at the end of the 1920’s with a backdrop of a flourishing economy. The 1920’s were a remarkable period for Americans, the economy was flourishing, Americans had money to spend, and the employment rate was high. Unlike Europe, which was largely destroyed by the first world war, America remained largely intact and was able to recover quickly from the effects of war. During this decade, with the promise of a bright future, purchasing by Americans was at the all-time high, many bought houses, cars, and household appliances. Americans also invested…

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