Great Depression Of The 90's Essay

The Great Depression of the 90’s refers to the economic collapse of the American economy which initially occurred between the years 0f 1929-1932 but went on from 1929-1939. President Hoover acted as president between the years of 1929-1933 and was succeeded by President Franklin D. Roosevelt who served from 1933-1945. Not only did it affect the United States but it also had a negative on countries such as Germany, France and Canada . Due to the Depression occurring so soon after World War One it made the recovery process difficult for a few reasons. First, Britain, a financial powerhouse in Europe was still in the process of recovering from the war and was in no position to help manage Europe’s financial sector. Second the war caused a major disruption in the international gold standard which was central to the value of the currency of both the United States and Europe. “The gold standard rendered the International monetary system inflexible at a moment that required great flexibility in global finance.” The Depression …show more content…
On the Left side some Americans claimed that it had gone too far and some claimed it didn’t go far enough. In their minds Roosevelt didn’t try hard enough to change capitalism and thought that the First New Deal gave too much power to businesses. On the Right Side Americans targeted Roosevelt, saying that he tried to intervene too much and the Court struck down most of his Legislation. In order to counter this, he started the Second New Deal, and also moved to the left politically. Although the Second New Deal greatly helped the Depression by creating a powerful social-welfare state for the well-being of American Citizens, there were still critics. Conservatives claimed that the government was intruding into the personal and financial lives of Americans while Liberals shined light on the holes in the plans like the lack of a national health-care