The Great Depression Essay examples

1265 Words Apr 27th, 2016 6 Pages
The daily life of the average American was never the same after the United States’ involvement in World War I. Throughout the early 1920s the economy was booming as businesses thrived off the increased spending of the public. The flourishing consumer culture generated new forms of leisure such as the radio, the automobile, and Hollywood films as apart of the everyday life. However, this period of prosperity would drift off as demand for these products decreased. After the 1929 crash, the United States plunged into the Great Depression. As many felt devastating consequences during this time, the government frantically searched for a solution. President Franklin D. Roosevelt developed the New Deal to pull America out of the Great Depression. The New Deal was successful in its accomplishments because it reformed the banking system, increased employment, placed regulations on Wall Street, and created a safety net for those who needed it. The origins of the Great Depression began after World War I, when factories hired workers to make cars, appliances, and clothes. People and businesses began to borrow money to buy a home, a car, stocks, or new equipment. Many states also borrowed money to build roads, bridges, and schools. While the economy was growing, more jobs and higher wages led to higher consumer spending. However, as the demand for cars and consumer goods declined in the late 1920s, businesses that made them had to cut back on production. As production declined,…

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