Herbert Gintis

but only 10,000,000 were actually in the stock market. Since the crash, unemployment was now at 3.2 mlllion, it rose about 1.7 million. “Black skilled workers saw their wages fall much faster than those of similar white employee” (bur 11). Since Herbert was the president, he was the one blamed for not doing anything to help throughout the depression. He told the people that everything would be alright because the worst had passed, but things were just getting…

1. How did consumerism affect the meaning of American freedom in the 1920s? During the first quarter of the 20th century, American industry skyrocketed. Production and consumption was at an all-time high, and “…Americans spent more and more of their income on leisure activities” (Foner 762) such as vacations and going to the movies. However, as Andre Siegfried has observed, a “new society” was forming in the United States due to the increase in mass consumption. Consumerism had led to a set…

"The Financial house of cards collapses, a financial panic grips the world. Practically overnight an economic blizzard swept the world. It is always the unemployed, the soup kitchens, the grinding poverty, and the despair” (Unidentified Man). This quote perfectly explains the hardships America had to trouble through during the 1920s. America was hit with it’s worst economy ever known to United States history. The author of “The Great Depression America 1929-1941," Robert S. McElvaine, gives…

the 1940s the United States was in the midst of the Great Depression. The Great Depression placed the US into severe economic instability just before World War II, leaving 3.2 million people unemployed. Soon after Franklin Roosevelt’s win against Herbert Hoover in the 1932 presidential election, his inauguration allowed for many changes to begin within the government. Roosevelt created something called the “New Deal,” which incorporated the Farm Security Administration (FSA). The FSA was a…

Chapter 7: (The Spoilsmen: An Age of Cynicism) The Spoilsmen were also known as Robber Barons or Captains of Industry. From 1865 through the Industrial Revolution, they controlled most of the wealth, and thought that since they or their parents worked hard to get it they deserved it. The Republican Party was corrupt at this time, and was more successful than the Democrats. All the Republican Presidents during this time period were corrupt in some way, and even the leaders of the Republican Party…

The Great Depression “(Stockbrokers) Hollard (sic) and screamed, they clawed at one another’s collars. It was like a bunch of crazy men.” “The great buildings were ablaze with lights all night as sleepy clerks fought desperately to get accounts in shape for Monday opening” (“The Wall Street Crash”). This is how journalist Jonathan Leonard described the day the stock market crashed on October 28 1929 - the day that triggered the great depression. The Great Depression of 1930’s had great impact…

The great recession that is known as the “Great Depression’ started in 1929 and continued until about 1933 in United States. This severe economic phenomenon that was originated in United States not only affected the USA economy but also shook the economy of almost all the countries of the world. This great depression led to severe decline in the real output, acute unemployment rate and consequently all the economic sectors and variables were negatively affected. As a result, the living standard…

The New Deal, World War II, and the role they had in ending the Great Depression. Wars are a curious event. Two sides, typically gathered by political interests, pit their youth against their opposition and hope they emerge victorious. Yes, there’s many factors involved, and strategies are of course in play, but at the end of the day it boils down to the slaughter of young men just so their leaders can maintain their elevated social status. World War II was a prime example of this. More people…

The Great Depression was the deepest and longest-lasting economical downturn the western world had ever experienced. It had begun soon after the Stock Market crash of 1929, which had sent Wall Street into a frenzied panic. Millions of investors were wiped out, and over the course of the next several years the deeper effects of the Depression began to surface. The sudden and sharp decrease of consumer spending and investment caused decline in industrial production. The lack of production needed…

The Greatest Election Upset in American History The 1948 election is considered the greatest upset in American history. Why you may ask? The reason is that everyone thought that Republican Thomas E. Dewey would defeat Democratic Harry S. Truman and they would finally receive a Republican in office after a long period of time. The election had six candidates but only four were important which included Harry S. Truman, Thomas E. Dewey, J.Strom Thurmond, and Henry Wallace. The parties that were…