The Great Depression Of The 1930s Essay

1393 Words Jan 29th, 2016 6 Pages
Recently, fear of recession has struck the heart of many economists as the prospects of an economic crisis is always present in the minds of people. No economic crisis; however, can match the devastation of the great economic crisis of the 1930s, popularly known as the Great Depression. A crash of the stock market caused by a speculative bubble combined with a drop of prices on farmed goods, staggering rates in unemployment and inflation, a sharp decrease of global trade and destructive natural disasters caused the late 1920s and much of the 1930s to be a time of desperation and poverty.The president in power at the beginning of the Depression, the Republican Herbert Hoover, was a man who firmly gripped to the laissez-faire spirit of the conservative faction. His refusal to have the government directly interfere with the economy and his bad handling of protests costed him the trust of the voters and caused him to lose the election of 1932 to the Democrat Franklin D. Roosevelt. In contrast with Hoover, Roosevelt was quick to take action to help the economy through his series of programs known as “The New Deal”. In despite of not being a perfect system, the New Deal was very effective when it came to relieving the economic stress of the depression and providing aid to the needy (not to mention it did so despite going through plenty of criticism).
The New Deal allowed for economic improvement by creating agencies that dealt with increasing industrial productivity. One of the…

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