The Great Depression The Worst Economic Slump - 1427 Words

The great Depression was the worst economic slump in US history, beginning in 1929 it lasted almost a decade. Leuchtenburg suggests â€Å"there was no single cause of the Great crash and ensuing depression†, however the most influential reasons for the Great depression was a culmination between the unequal distribution of income and the extensive speculation of the 1920s. Underlining these two dominant influences was the republican government practises of the 1920’s under Harding, Coolidge and Hoover Governments. The Republican economic policies of the 1920 are contributed significantly to the Great Depression. Misdistribution of income existed on many levels within the US economy. Money was unevenly distributed between rich, middle class and poor, and between industry and agriculture. The 1920’s was an era of considerable growth , bearing witness to its total national income rising from $74 Billion in 1920 to $89 Billion in 1929, associated primarily with Republican economic policies and industrialisation. Much of this growth however was founded upon the illusion of the decade of economic prosperity and growth, yet 43% of all families throughout the 20’s earned less than $1500 a year, considered poverty. In 1929 5% earn 33% of all incomes, the top 0.1% had the combined income of the bottom 42% of society. From 1920-29 real incomes rose 9%, yet the top 1% enjoyed real income rises of 75%. Republican government policy played a major hand in this Maldistribution of income.Show MoreRelatedFranklin Roosevelt (FDR) Essay1224 Words   |  5 Pagesand Roosevelt had very different v iewpoints on how to handle the Great Depression. Hoover preferred â€Å"rugged individualism,† and FDR preferred â€Å"helping hand† philosophies. Hoover believed in assisting business in hope that this support would create a trickle down impact which would lead to investment and more jobs. FDR, on the other hand, wanted to provide people with jobs to increase confidence and correcting failures in certain economic institutions, leading to a bubble up scenario. It is ironic thatRead MoreWill Mcclellan3/5/17. Herbert Hoover. Herbert Herbert Is874 Words   |  4 Pagesstock market crash of 1929 and the Great Depression. These were tough tasks for a president and since the Great Depression lasted so long, I don’t believe that he handled them very well so I believe that Herbert Hoover belongs in the hall of shame. Hoover became President in March, 1929. The stock market crash occurred in October, 1929 and lasted for four days. The stock market lost more than 25% of its value over those four days and is considered the worst crash in the history of the US stockRead MoreEssay on The Causes of the Great Depression697 Words   |  3 PagesThe Causes of The Great Depression History Imagine waking up one morning, only to find out that all your investments and savings are gone. So if your bank that you invested all your money in collapsed, you didn’t get any money back. This is what happened to millions of Americans during the 1930s. This era was called the great depression. The great depression was one of the worst economy issues we have ever had in history. It was a hard time for everyone. The great depression started in 1929Read More causes of the great depression Essay582 Words   |  3 Pages The Great Depression was a decade of poverty for many United States citizens. Starting in 1929, The Great Depression was a rough time not only for the U.S. but for many other countries. There are many causes for the Depression but the main cause was the combination of the greatly unequal distribution of wealth throughout the 1920s and the extensive stock market speculation(Gusmorino, 1). Other causes were the unsteadiness of the stock market, short signed economic policies, overdependence on massRead MoreFranklin Delano Roosevelts Presidency Essay1190 Words   |  5 PagesDelano Roosevelt was elected for four consecutive terms. However he died in the first year of his fourth term. During his prolonged presidency Franklin Delano Roosevelt did many incredible things as our Nations leader. He pulled us out of the great depression, dealt with civil rights issues, created many reforms for our nation including the twenty-first amendment, handled the attack on Pearl Harbor, and handled World War Two efficiently. Franklin Delano Roosevelt was born January 30, 1882 in HydeRead MoreExperience in a Community in Essay, The Worst Hard Time by Timothy Egan 692 Words   |  3 Pagesessay, The Worst Hard Time, author Timothy Egan conveys the experience of the community in the town of Dalhart, Texas as it falls from being a town that enjoyed fortune from high demands of product in the market to a town of unrest and helplessness just a while after the market crash of 1929. Egan describes the economic and social conditions in the Texas Panhandle as a whole and in other areas, as well as what it meant for the people of this community in the midst of the Great Depression. When theRead MoreThe Great Depression Essay747 Words   |  3 PagesThe Great Depression From black Thursday on October 24, 1929, to December 7, 1941, and the attack on Pearl Harbor, America endured many changes concerning The Great Depression. From the Hooveradministration to Franklin D. Roosevelt; the desperate economic condition threatening the United States in the late twenties and thirties only grew worse. The United States was in total economic failure; the previous presidents did nothing to improve our nations status; althoughRead More Economical Events That Lead Up To The Great Depression Essay604 Words   |  3 Pagesbonds and bank accounts. As the prices continued to rise, some economic analysts began to warn of an impending correction, but the leading pundits largely ignored them. Many banks, eager to increase their profits, began speculating dangerously with their investments as well. Finally, in October 1929, the buying craze began to dwindle, and was followed by an even wilder selling craze. The Great Depression was the worst economic slump ever in U.S. history, and one, which spread to virtually the entireRead More The Great Depression and Franklin D. Roosevelts New Deal Essay858 Words   |  4 PagesThe Great Depression and Franklin D. Roosevelts New Deal During the 1930s, America witnessed a breakdown of the Democratic and free enterprise system as the US fell into the worst depression in history. The economic depression that beset the United States and other countries was unique in its severity and its consequences. At the depth of the depression, in 1933, one American worker in every four was out of a job. The great industrial slump continued throughout the 1930s, shaking theRead MoreGreat Depression Essays1347 Words   |  6 PagesThe Great Depression is probably one of the most misunderstood events in American history. It is routinely cited, as proof that unregulated capitalism is not the best in the world, and that only a massive welfare state, huge amounts of economic regulation, and other interventions can save capitalism from itself. The Great Depression had important consequences and was a devastating event in America, however many good policies and programs became available as a result of the great depression, some