The Great Depression Of The 1930 ' S Essay

931 Words Dec 7th, 2015 4 Pages
The Great Depression of the 1930’s is an event in United States history that is forever remembered for the catastrophic effect it had on the American peoples’ financial, social, and psychological well being of the time. The vast and complicated nature of the economic downturn would take years to recover from, and is still being analyzed by historians and economists to this very day; as time has passed, the debate among experts on what caused the disaster has yet to settle. Just as the consequences of the Great Depression were distributed in a wide array of complex components, so to are the theories as to what factors contributed to their initiation. However, in all instances of the conclusive research of that has followed the period, one inference is evidently clear: The Great Depression was not unavoidable. The three primary culprits for the massive financial decline of the 1930’s were the overspending of consumers, the actions of President Herbert Hoover, and the inaction of the Federal Reserve. These contributing factors will be listed chronologically from the “roaring twenties” onward, and in order of importance according to their role in contribution to the infamous Great Depression of the 20th century. In the aftermath of World War One, The United States began a period of robust economic growth known notoriously as “The Roaring Twenties”. While war torn Europe was just beginning to reconstruct their infrastructure and financial systems, America was in the midst of…

Related Documents