Great Depression
Angela Thomas
The Great Depression was a pivotal time in the history of the United States and as a result, American business, banking, agriculture and society were drastically altered. It is commonly believed that the crash of the New York stock market at the end of October 1929 caused the Great Depression, but in reality this turbulent period of American history was brought on by a number of factors. And as the causes of the Great Depression are still being debated, so to are the effectiveness of President Franklin Delano oosevelt's "New Deal" solutions. What is agreed upon is that the Great Depression and oosevelt's New Deal changed America forever.
While there is still much debate as to the exact causes of the Great Depression, there is no doubt that it began with a decline in industrial production in early 1929. However, this decline did not necessarily mean that a depression…...
mlaReferences
Coleman, Amanda. (2010) "Rehabilitating the region: the new deal, gender, and the remaking of the rural South." Southeastern Geographer 50.2 (2010): 200+. Retrieved from Academic OneFile.
Hillstrom, Kevin. The Great Depression and the New Deal. Detroit: Omnigraphics. 2009. Print.
Himmelberg, Robert. The Great Depression and the New Deal. Westport: Greenwood. 2001. Print.
Temin, Peter. (1994). "The Great Depression, Historical Paper No. 62." The National Bureau of Economic Research. Retrieved from http://econ161.berkeley.edu/teaching_folder/Econ_210b_spring_2001/Readings/
There was little support for an Equal ights Amendment, largely due to the belief that there were other problems to solve first, but the mindset of women was well set for what would be their need in the workforce during World War II. However, while large numbers of women worked during the Depression, scholars often see their status slightly decreasing because the American Federation of Labor, for one, did not allow women to join unions and pushed employeers to hire men (Moran)
Minorities -- Most of America's minorities did not benefit from oosevelt's New Deal Programs. They were considered the "last hired, first fired" regardless of their tenure with the company, and because so many White Males were out of work, had a tougher time finding employment. A shortage of jobs in the American Southwest, however, led to the illegal deportation of 400,000 Mexican-Americans just so Whites could take those…...
mlaREFERENCES
"America in the 1930s." June 2009. EyeWitnessesto History.com. Web. March 2013. .
Briggs, J. "1930's Race Relations in the American South." 3 March 2004. mgagnon.myweb.uga.edu. Web. March 2013. .
Feagin, J. Racist America: Roots, Current Relaities, and Future Reparations. New York: Routledge, 200. Print.
Moran, M. "1930s America: A Feminist Void?" April 1989. loyno.edu. Web. March 2013. .
Great Depression
Dorothea Lange's iconic picture of the Great Depression in America is titled simply, "Migrant Mother." The title depersonalizes the image of Florence Thompson, who Jennifer Keene claims is "angry and bitter" that the photographer never asked her name, nor used the photograph to help the poor. According to Keene, Thompson believes that Lange profited from the photo without fulfilling the original promise to inspire government aide for the poor. On the other hand, Thompson's two youngest children are also depicted in the photograph taken in 1936. One of those daughters claims that it is only via self-reliance that economic independence is possible, suggesting that government aide is not necessarily the best or only way to help the poor. Indeed, the best way to help the poor at any time is to provide a diverse range of programs and resources. The "poor" should never be lumped together as a homogenous…...
mlaReference
Keene, Jennifer. "Dorothea Lange and Migrant Mother." Video retrieved: http://media.pearsoncmg.com/ph/hss/SSA_SHARED_MEDIA_1/history/MHL/U.S./videos2/migrant_mom-large.html
In fact, from 1923-1929 corporate profits rose 62% and dividends rose 65%." (McElvaine R.S. p. 39) This is further evidence not only of the inequality of general wealth distribution, but also of the severe imbalance that was to create havoc in the economy.
This dilemma was also further exacerbated by the fact that the Federal Government encouraged this situation. For example, President Coolidge signed the Revenue Act of 1926, which in effect reduced tax for the wealthy. "... he was able to lower federal taxes such that a man with a million-dollar annual income had his federal taxes reduced from $600,000 to $200,000.. Even the Supreme Court played a role in expanding the gap between the socioeconomic classes. " (Gusmorino P.A. 1996)
This situation was further worsened by another imbalance, namely the disparity between supply and demand. This was to have far-reaching and damaging effect on the economy and was directly…...
mlaBibliography
1929 -1939 - the Great Depression. Canadian Economy Online. July 7, 2005. http://canadianeconomy.gc.ca/english/economy/1929_39depression.html
Baer, Doug, Edward Grabb, and William a. Johnston. "Class, Crisis, and Political Ideology in Canada: Recent Trends." Canadian Review of Sociology and Anthropology 24.1 (1987): 1-22.
Bernanke, Ben S. "The Macroeconomics of the Great Depression: A Comparative Approach." Journal of Money, Credit & Banking 27.1 (1995): 1+. Questia. 8 June 2005 http://www.questia.com/ .
Christiano, Lawrence, Roberto Motto, and Massimo Rostagno. "The Great Depression and the Friedman-Schwartz Hypothesis." Journal of Money, Credit & Banking 35.6 (2003): 1119+. Questia. 8 June 2005
Thus, when stricter regulations should have been implemented, they were not, and the avoidable became utterly unavoidable. The president Hoover's initial reaction was to allow the market to fix itself, thus going alongside his lassiez-faire beliefs. Yet, he was forced by Congress to act, but did so minimally (Wilkison 1). Thus, it was not long before the nation was in demand of a more hands on president who was willing to implement new social and economic programs to get the United States back on track to economic prosperity.
When Franklin D, oosevelt took over the Oval Office, he inherited a multitude of problems still reeling from the onslaught of the Great Depression. In his formulation of a plan, oosevelt created the New Deal, which "sought to save capitalism and the fundamental institutions of American society from the disaster of the Great Depression," (Wilkison 1). Thus, oosevelt created a multi-faceted approach…...
mlaReferences
Ezzell, Patricia Bernard. "TVA: From the New Deal to a New Century." TVA Heritage Column. Retrieved 5 Dec 2009 from http://www.tva.gov/abouttva/history.htm
Gusmorino, Paul Alexander. "Main Causes of the Great Depression." Gusmorino World. 1996. Retrieved 4 Dec 2009 from http://www.gusmorino.com/pag3/greatdepression/ index.html
Hall, Thomas Emerson & Ferguson, David J. The Great Depression: An International Disaster of Perverse Economic Policies University of Michigan Press. 2001.
Kelly, Martin. "Top 5 Causes of the Great Depression." American History. Retrieved 4 Dec 2009 from http://americanhistory.about.com/od/greatdepression/tp/greatdepression.htm
Depression
The Great Depression
Pre-Depression Economy Summary
• rite a journal entry describing a weakness in your chosen character's sector of the economy that would later contribute to the Great Depression.
• rite a summary of the weaknesses in the American economy that contributed to the Great Depression.
The Great Depression was one events of the twentieth century that defined the entire century. It was the longest lasting and most widespread financial crisis in the history of the country. However, it also spread globally and many economies were all involved in varying amounts depending on their trade arrangements with the U.S. The atmosphere in the U.S. was filled with desperation and pretty much any political leaders who had a seemingly reasonable idea gained popularity quickly as people demanded action.
In the United States the economy went from virtually booming to bust in a relatively short time frame. Although the unemployment rates today are relatively high, the…...
mlaWorks Cited
History. (N.d.). New Deal. Retrieved from History: http://www.history.com/topics/new-deal
Rampell, C. (2010, January 28). Unemployment Today vs. The Great Depression. Retrieved from The New York Times: http://economix.blogs.nytimes.com/2010/01/28/unemployment-today-vs.-the-great-depression/
Great Depression was the single most significant economic catastrophe of the 20th century, brought on by a lack of the ability to control monetary pricing as well as a period of sustained high unemployment. Unlike modern economies, pre-Great Depression governments did not have many tools to sway the economy one way or the other, there was a long standing belief in "laissez faire" capitalism, with the premise that all markets are to be left alone, with the belief that the market can always correct itself if given enough time. Sensing that the world economy could take years to recover on its own, economists such as John Maynard Keynes of Britain advocated the creation of government backing for bank deposits, which gave citizens the peace of mind of knowing their money would be backed by the government in case of another banking disaster like we saw in the 1930s. (B News…...
mlaConcerning whether a downturn in U.S. economic growth affects Canadian economic growth, there is indeed a direct correlation. Due to the closeness of the two economies, and the mammoth size of the U.S. Economy in general, there is no way that any disruption in one country would not be felt in the other. Over the past twenty years, globalization, NAFTA, and an increase in technological capability has only brought both countries financial mechanisms closer. In fact, Canadians are at great risk when the behavior of Wall Street becomes reckless. It is risky behavior, such as that exhibited during the subprime lending crisis, that most affects international financial institutions.[footnoteRef:3] (Somerville 2010) The health of the U.S. economy is vital to the success of Canada's economy, and therefore caution must be placed whenever either country predicts a downturn in the imminent future. [3: Somerville, Glenn. Reuters. January 31, 2010. http://www.reuters.com/article/2010/01/31/us-usa-economy-bailout-idUSTRE60U09L20100131 .]
However Canada does have its own ability to handle government spending however it likes. For instance, providing a single payer health care system greatly simplifies the health care process and costs, and ensures that even during an economic downturn, citizens are able to seek the medical treatment they are entitled to. This is a service provided by the government even during hard times, a social responsibility which is lacking in the American public conscience. This is in stark contrast to the United States, which opts to spend heavily on military and defense, while relying entirely on the private sector to provide health insurance for Americans. Among other differences between the nations, the way labor is exported from America to China and other low income nations is not nearly as extreme in Canada. Additionally, Canada's property market was not as heavily affected as in the States, due to better market regulation and less of a reliance on sub-prime loans. [footnoteRef:4] [4: CBC News. Replay of Great Depression Unlikely. September 25, 2008. http://www.cbc.ca/news/business/story/2008/09/25/td-forecast.html .]
In conclusion, we see that the Great Depression has taught all world governments how to evade calamity, but the extent to which government involvement in the market should be permitted is still in heavy contention. The pro-business low tax business class sees Keynes as a man who simply redistributes wealth via tax collection and government spending, meanwhile the middle class typically benefits from the benefits government offers in its ability to stabilize the market and prevent prolonged periods of slow growth and unemployment, periods which are inherent in the instability of the free market.
Depression V ecession
The Great ecession of 2009, which in economic terms lasted two quarters but for many people stretched out quite a bit longer, was billed as the worst economic event since the Great Depression. This provides us with an opportunity to examine the two events, their respective time periods, and what sort of similarities and differences we can determined between them.
The 1920s were known as the roaring twenties, and were considered a boom time. The period after the First World War saw significant shifts in American life, in terms of standard of living and how people lived. The 20s saw a significant shift towards urbanization, fueled by job opportunities that were emerging in white collar sectors. The term urban is juxtaposed against rural -- in many cases these areas were what we would consider small country towns. But the shift away from the farm was a profound thing, and…...
mlaReferences
Berger, I. (2013). The continuing, transformative impact of IT. Wall Street Journal. Retrieved December 6, 2014 from http://blogs.wsj.com/cio/2013/06/14/the-continuing-transformative-impact-of-it/
Escow, R. (2014). 7 facts that show the American Dream is dead. Salon. Retrieved December 6, 2014 from http://www.salon.com/2014/10/25/7_facts_that_show_the_american_dream_is_dead_part
ner/
Investopedia (2014). Definition of laissez-faire. Investopedia. Retrieved December 6, 2014 from http://www.investopedia.com/terms/l/laissezfaire.asp
The middle one, Stevie, he's usually hiding in his room but every now and then, he'd hug me like he knew I needed it. Times aren't the greatest for my friends either. They all have family and are looking for jobs, too. Remember our neighbors, the Moribitos? They've got six kids and Domenic, the husband, is out of work, too while his wife is running after their wee little ones. I think despite all the problems, the neighborhood here in New York City seems cohesive like we're all one big family facing the same dilemma. In the end, all we need is love right, and as long as our families got each other; money doesn't make the world go round! It's what I tell Eileen and myself but I don't think she's buying much of it anymore. We have nothing to our name but these ragged clothes on our…...
Weak governmental intervention and stubborn responses by overzealous investors led to the stock market crash in October of 1929. Non-existent money artificially inflated the prices of stocks traded on the market and caused firms to produce more than they could sell. When reality hit, it was too late to prevent the market from crashing.
President Hoover reacted by stimulating construction and public works projects. Urging firms to keep wages steady and relatively high, he cut taxes and increased allocations for public spending. Hoover was initially praised for his approach and for his awareness of ancillary factors causing the recession including his blaming rampant stock speculation. His reputation fell when he passed the Smoot-Hawley Tariff. Moreover, his pro-development policies did not help circulate the surplus goods. Oversupply and under-demand were still core problems that needed to be addressed. Worker wages remained too low to stimulate consumer spending. In the absence of…...
mlaReferences
America's Great Depression." Retrieved Oct 25, 2006 at http://www.amatecon.com/gd/gdcandc.html
Gupta, P. & Lee, J. (1996). "The Great Depression and the New Deal." Retrieved Oct 24, 2006 at http://www.bergen.org/AAST/Projects/depression/
Gusmorino, P.A. (1996). "Main Causes of the Great Depression." Retrieved Oct 25, 2006 at http://www.gusmorino.com/pag3/greatdepression/
The Herbert Hoover Presidential Library and Museum." Retrieved Oct 24, 2006 at http://hoover.archives.gov/exhibits/Hooverstory/gallery06/gallery06.html
These two factors would cause the economy to experience a sudden erosion of economic stability. At which point, a new Administration would begin: massive spending and enacting various regulations to address the causes of the Great Depression. This would help to provide stability to: the economy and it created a foundation for placing some kind of support in the different economic structures (i.e. banks / the stock market). What all of this shows, is that the lack of taking any kind of action from the federal government would make the situation worse. As it would cause the depression to begin and have devastating effects. Then, when they finally decided to do something about it, the policies would essentially negate each other. What put an end to the Great Depression was: the massive amounts of government spending on social programs and new regulations to address the underlying causes.
Causes of the…...
mlaBibliography
Baru, S. (2009). The Global Economic Crisis and U.S. Power. Economic Meltdown. (pp. 3 -- 38). Seattle, WA: National Bureau of Asian Research.
Bonnick, K. (2010). Securitization. Why to Big to Fail. (pp. 61 -- 68). New York, NY: Author House.
Edsforth, R. (2000). A New Deal in 100 Days. The New Deal. (pp. 121 -- 149). Malden, MA: Blackwell Publishing
Flynn, K. (2008). Federal Deposit Insurance. New Deal. (pp. 142-147). Layton, UT: Gibbs Smith.
The excessive use of margin had encouraged speculation. Poor governance on the part of banks and brokerages allowed for a market failure where investors were not making rational decisions, resulting in a bubble.
A variety of new taxes were created to offset Roosevelt's social programs. The American psyche had been scarred by the abject poverty of such a wide proportion of the population. There was palpable fear and desperation. This resulted in the creation of a social safety net and massive infrastructure investment. To pay for this, payroll taxes were developed and this was followed by more taxes to pay down. ithholding taxes and broader income taxes also came out of this era.
The gold standard was abandoned as a result of the Great Depression. The rigidity of the standard was considered to be an impediment to recovery. The coming of orld ar Two resulted in the postponement of monetary system…...
mlaWorks Cited:
No author. (1929). Wall Street Hums on the Day of Rest to Catch up at Work. New York Times. Retrieved April 23, 2009 from http://www.nytimes.com/library/financial/102829crash-sunday.html
No author. (1929). Stocks Collapse in 16,410,030 Share Day, but Rally at Close Cheers Brokers; Bankers Optimistic, to Continue Aid. New York Times. Retrieved April 23, 2009 from http://www.nytimes.com/library/financial/103029crash-lede.html
Salesman, Richard M. (2004) "The Cause and Consequences of the Great Depression, Part 1: What Made the Roaring '20s Roar" The Intellectual Activist .
Carter, Susan. (2006). Historical Statistics of the U.S.: Millenial Edition. Retrieved April 23, 2009 from http://www.hyperhistory.com/online_n2/connections_n2/depression9.html
Great Depression was an immense tragedy for Americans. It was the beginning of involvement of government in the economy. After a decade of prosperity and optimism, the United States of America was thrown in despair on October 1929. The whole stock market got crashed and the Great Depression began officially. That day is known as Black Tuesday. There was no hope of the recovery of stock prices. Masses of Americans tried to sell all the stock but there was no buyer. At that time, the stock market became the path of bankruptcy. After the crash of stock market, the banks had to close forcefully as they had invested the savings of their clients in the stock market. This caused a lot of panic and people rushed to the opened banks for withdrawing their money.
The Great Depression caused the unemployment to reach 25% and the wages of employed people fell by…...
mlaReferences
Dickstein, Morris. Dancing in the Dark: A cultural History of the Great Depression. New York: W.W. Norton and Company, 2009. Print.
McElvaine, Robert S. The Great Depression: America 1929-1941. New York: Times Books, 1984. Print.
"Wall Street Crash of 1929 and it's after math." Historylearningsite.co.uk. Web. 1 April 2012.
Great Depression New Deal Voices Protest
In this essay, the author will discuss the importance of Huey Long and Father Coughlin in shaping the course of the New Deal. Since rinkley also mentions Charles Townsend's social security ideas, it will also be necessary to consider them as well. It is the author's position that Alan rinkley is largely correct that these individuals forced the president Franklin Delano Roosevelt to move left in 1935. Evidence will be presented to support this position. The urbane, pragmatic president looked with fear upon the above extremist figures and found it necessary to craft a third way between the extremes and a leftward drift was necessary to achieve this.
While this essay comprises principally a comparison of rinkley and Rauchway, it is necessary to consider Long's writings themselves and the impact that they had upon the American political landscape. In 1934 Huey Long created "Share Our Wealth,"…...
mlaBibliography
Amenta, Edwin, Dunleavy, Kathleen and Mary Bernstein. "Stolen Thunder? Huey
Long's 'Share Our Wealth', Political Mediation. 59. (1994), 678-702,
(accessed May 31, 2011).http://www.jstor.org/pss/2096443 .
Beekman, Scott. William Dudley Pelley: A Life in Right-Wing Extremism And the Occult .
Question 1
In essence, there was rapid expansion of the United States stock market in the 1920s. This expansion was founded on credit. In late 1920s, wild speculation reached its peak, and the price of stocks went too far from their intrinsic value. This led to the 1929 Stock Market Crash. The 1930s ushered a period of the stock market contraction as a consequence of the Great Depression.
Question 2
The United States did not have its factories destroyed during WW1, unlike was the case in some European countries. It is important to note that through necessity, there was significant increase in production as well as manufacturing during the war. For this reason, and several others, the United States emerged from the WW1 stronger, with a booming economy and as an industrial leader.
Question 3
With most people having zero experience in the purchase of securities, Liberty Bonds, “Investing Culture”, Margin Buying managed to get…...
mlaReferences
[FullyFundedTrader]. (2013, Jan 30). 1929 The Great Crash. – A Video about the Stock Market Crash in 1929 [Video File]. Retrieved from https://youtu.be/POMhTJqw1d4
Title: The Impact of Global Wars on Societies: Causes, Consequences, and Lessons
Introduction:
Global wars have shaped world history, leaving indelible imprints on societies and cultures. This essay explores the causes, consequences, and lessons derived from the major global wars in history. By examining significant conflicts such as World War I, World War II, and the Cold War, we gain an understanding of the profound socio-political changes and humanitarian crises resulting from these wars. Utilizing a range of authoritative resources, this essay aims to present a comprehensive examination of global wars and their legacy.
I. Causes of Global Wars
A. Imperialism and Expansionism
-....
1. The impact of the Salt March on the Indian independence movement
2. The role of women in the Harlem Renaissance
3. The influence of Chinese immigrants on the development of the American railroad system
4. The forgotten history of the Mexican Repatriation during the Great Depression
5. The impact of the Stonewall Riots on the LGBTQ rights movement
6. The role of Native American code talkers during World War II
7. The history of Japanese internment camps in the United States during World War II
8. The significance of the Zoot Suit Riots in the history of civil rights in America
9. The contributions of Filipino farmworkers....
Understanding the Concept of Narrative
A narrative is a form of storytelling that unfolds a sequence of events or experiences over time. It typically involves characters, a setting, a conflict, and a resolution. Narratives can be fictional or nonfictional, and they can be expressed through various mediums such as literature, film, music, and visual arts.
Approaching Narrative Essay Topics
When developing essay topics centered around narratives, consider the following aspects:
Personal Narratives: Explore personal experiences, anecdotes, or stories that have shaped your life or perspectives.
Literary Narratives: Analyze narratives in literary works, examining character development, plot structure, and themes.
Historical Narratives: Examine historical....
1. The Dust Bowl: A Time of Desperation and Resilience
2. The Environmental Catastrophe of the Dust Bowl
3. Surviving the Dust Bowl: Stories of Struggle and Strength
4. The Economic Impact of the Dust Bowl on American Agriculture
5. The Role of Government Intervention in Alleviating the Dust Bowl Crisis
6. Lessons Learned from the Dust Bowl: Environmental Sustainability and Conservation
7. Dust Bowl Migration: How the Great Plains Crisis Reshaped American Society
8. The Dust Bowl and the Great Depression: Interconnected Tragedies of the 1930s
9. Dust Bowl Literature: How Writers Captured the Human Experience of Displacement and Loss
10. Revisiting the Dust Bowl: Modern Perspectives on....
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