The Great Depression : An Event That Causes Great Suffering And Distress

1588 Words Oct 29th, 2014 7 Pages
A tragedy is an event that causes great suffering and distress, and many relate it to an event where a large percentage of a population meet their demise. However, the Great Depression is classified as a major tragedy even without large scale deaths. Not many people died in the Great Depression, but millions lost all of their assets when the market crashed. They had no way of being able to make back what they lost without going to the very system that made them lose their money in the first place, the investing market. Investors themselves were only average at best in being able to make money. The Great Depression was a terrible tragedy as many people around the world lost their money and jobs to the collapse; however, this benefitted society by producing cheap technology and bringing forth a newly reformed government, leading to new organizations and bills being passed to prevent any situation such as this from ever happening again. The Great Depression had a variety of different causes. New concepts, ideas and inventions were being developed in the time between 1920 and 1929, which were otherwise known as the “Roaring Twenties.” One example would be “credit, or installment buying,” which changed how purchasing products worked. Before credit was created, one would have to pay the entire amount of the product on the spot to own it. If the money was not readily available, that product could not be purchased. With credit, one could pay monthly or yearly amounts and still…

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