Essay about Effects Of The Great Depression - 2151 Words

Effects of the Great Depression The introduction of the discussion will focus on the origins of the Great Depression and the escalating events that led to it. This will provide adequate foundations to bring up questions and attempt to answer them in an objective fashion as to why and how the Depression affected different industrialized countries in different ways. The core of the debate will consist of detailed comparable analyses of the consequences of the Depression with an emphasis on the economic aspects. The conclusion will provide a brief overview of the ways used by the different governments to get out of that dark episode of world economic history. When studying the Great Depression and†¦show more content†¦Clearly, the U.S. was going from being a traditional debtor of Europe before World War I to becoming its creditor: America had financed the war and it was issuing loans for its reconstruction. However, the attitudes in the U.S. were evolving in an unusual direction: an increasing number of American financiers were starting to literally seek ut potential borrowers which led to competition among U.S. banks and the spreading of unsound lending.2 The main object was to do the most business, even at the expense of essential caution. What seemed like a beginning of recovery from the Great War, was in fact an immense accumulation of debts, which made the international economic order vulnerable to depression. Analyzing these events with the insight we have today, they seem even more unbelievably audacious given the high instability of the borrowing nation. (i.e., Europe) The triggering event was the crash of the Wall Street stock market in October of 1929. The stock market collapsed after steady declines in production, prices and incomes over three previous months which forced the speculators to revise their expectations. Anxiety soon gave place to panic which led to the crash. However, the depression affected the different industrialized countries in various ways and degrees of intensity. The depression was of especially great magnitude in the U.S. because there were not any welfareShow MoreRelatedThe Great Depression And Its Effects1166 Words   |  5 Pages The Great Depression The Great Depression is one of the single most important events in the financial history of the United States and the world; the effects of and leading to the Great Depression lasted for several years (Shindo). The great depression was a very difficult time in the time that it occurred. It hit people hard and left an everlasting memory (Shindo.) It would lead to a lot of devastating events better all over would feel the affect of this crisis. It was a very unexpected and suddenRead MoreThe Great Depression And Its Effects1011 Words   |  5 Pages The Great Depression was a ten year, economic downward spiral in the U.S that spanned from 1929- 1939. The cause of the Great Depression was the fault of several contributing factors. First was the stock market crash that occurred on black Tuesday of October 1929. This was the major cause because stock holders lost more than 40 billion dollars, and although it regained some of its losses, by end of 1930 truly entered the Great depression. Stock prices reached a permanent plateau. 2 out of everyRead MoreThe Effect Of The Great Depression Essay1500 Words   |  6 PagesThere is much debate as to what caused the Great Depression. There was certainly the short-term trigger of the Stock Market Crash of 1929, but there are also long-term causes that manifested itself during the 1920’s. Whether it is the shift from coal to electricity that negatively affected those invested with the old technology, or a shift more to trucks and cars to transport goods instead of railroads, or perhaps that farmers were losing their farms because over over-investment during the lateRead MoreEffects Of The Great Depression1329 Words   |  6 PagesEnglish 8 3/12/2015 The Effects of the Great Depression The Great Depression, the worst economic recession in US history. In October 1929 the U.S. stock market crashed. This event is commonly referred to as the beginning of the Depression. The stock market crashed in New York causing the rest of America to fall. It was not just one factor, but a combination of domestic and worldwide conditions that led to the Great Depression. There are many theories of what caused the Great Depression, however, they areRead MoreThe Great Depression And Its Effects2007 Words   |  9 Pagesâ€Å"My parents survived the Great Depression and brought me up to live within my means, save some for tomorrow, share and don t be greedy, work hard for the necessities in life knowing that money does not make you better or more important than anyone else. So, extravagance has been bred out of my DNA.† This quote from a child who was born and raised during the Great Depression is telling us something that used to be true to nearly everybody and is not as true as it should be today. This is an ideaRead MoreThe Effects Of The Great Depression4304 Words   |  18 PagesPaper 2: The effects of the Great Depression By: Christa Dorvil Paper 2: The effects of the Great Depression By: Christa Dorvil Modern World History Instructed by Dr. Stephanie Laffer Miami International University of Art and Design Abstract Never had the flaws of capitalism been so evident or as devastating as during the decade that followed the outbreak of the Great Depression in 1929. All across the Euro-American heartland of capitalist world, this vaunted economy systemRead MoreThe Effect Of The Great Depression1278 Words   |  6 Pagesdebated many times. Welfare has good and bad aspects to it. The welfare system came about when the stock market crashed in October of 1929. The stock market crashing had a huge effect on the economy. Banks started to fail, businesses closed, and thus millions of people lost their jobs. The effect of the Great Depression was crucial. It was particularly hard on the children. President Franklin Roosevelt focused on two topics. One was the most important to him; it was to create jobs for the millionsRead MoreThe Great Depression Effects On America1351 Words   |  6 PagesThe Great Depression had a profound effect on the generation that lived through it, with many people struggling j ust to get by, and the crisis lasted for years. An entire decade was shaped by this event and so were its people. Because of the effects of the Great Depression, essentially everyone had to change their lifestyle and their daily routines. Because of these tough times, the American outlook on life was grim, the Great Depression lasted for over a decade and no one knew when it was goingRead MoreGlobal Effects Of The Great Depression Essay1099 Words   |  5 PagesGrace Young Dr. John R. Dabrowski American History II, AMH-2020-H01 7 December 2016 Global Effects of the Great Depression When the American stock market crashed on the infamous Black Tuesday in October 1929, the resulting circumstances were felt worldwide. This crisis resulted in a devastating economic collapse. The ensuing Great Depression was in fact a global event. The world was not immediately engulfed by this wave of economic decline. The timing of economic events varied greatly among nationsRead MoreThe Effect of the Great Depression Worldwide765 Words   |  3 PagesThe Great Depression was a major economic disaster which left the people of the world shocked. Many countries were already left in a bad position due to the effect of World War I. Countries that bought and sold on the international market were affected. The United Kingdom, France, and Germany were just a few of the affected countries that had a difficult time getting their country back to great economic shape. The United Kingdom finished World War I a few years prior to the Great Depression, and