The Positive And Negative Effects Of The Great Depression

One of America’s darkest times in it’s history is known as the Great Depression. Isaac Asimov, a historical writer, once stated, “No one can possibly have lived through the Great Depression and not be scared by it. No amount of experience since the depression can conceive someone who has lived through it that the world is safe economically.” (Isaac Asimov) The country really struggled during this time, as jobs and money were scarce, impacting everyone throughout the nation. But not all of the depression was negative, more positives came out of this time than most people realize. People came together and unity spread across the entire country which, in turn, helped them get through the problems that they encountered. The Great Depression had both a positive and negative impact on the nation as a whole during and after it occurred. The Great Depression was a dreary time in American History and took a toll on much of the nation in a negative way. Black Thursday was the beginning of the depression, and it was on this day that “investors were made nervous by the rising interest rates, and suddenly sold their shares. This jolted investor confidence, and caused …show more content…
As a result of the entire economy collapsing in on itself, everything was able to be rebuilt on a more stable foundation. One of the major stones that held this foundation up was the New Deal created by president Franklin Delano Roosevelt. His programs “benefited certain segments of society and helped ease the strain of depression. When more prosperous times returned, the economic reforms Roosevelt initiated in 1933 and 1935, such as Social Security” (galegroup.com). When FDR took over as president during the Great Depression he created many programs to help mend the economy and took on the challenge of repairing a broken nation. Through many of his programs, the citizens of America were helped financial and the economy benefitted