Cause of the great depression essay

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A little about the essay
Please join StudyMode to read the full document. Later a place called the stock market crash of came as a shock to most Americans and especially the bankers, that looking at the causes of the Great Depression ; it was clear how America entered this period. Not only was there poor economic, but an uneven distribution of wealth and poor debt structure. Prosperity had depended on a few basic industries; some was not able to construction and automobiles, which in the late s began to decline America had become so reliant on these two major industries that it did not realize the effect they would have on the economy once they began to lack profit.

Great depression

Causes of the Great Depression Essay | Cram

Please join StudyMode to read the full document. Many people speculate that the stock market crash of was the main cause of The Great Depression. In fact, The Great Depression was caused by a series of factors, and the effects of the depression were felt for many years after the stock market crash of By looking at the stock market crash of , bank failures, reduction of purchasing, American economic policy with Europe, and drought conditions, it becomes apparent that The Great Depression was caused by more than just the stock market crash.

Essay on The Causes and Consequences of the Great Depression

From the start of the depression the United States economy was going down day by day. President Roosevelt had closed all the banks for three days and then some banks opened backed up with strict limits on withdrawals. There was absolute chaos when people heard that the stock market had crashed, which led to bank runs. People did not trust banks anymore and wanted to get their money so they could make sure their money was in safe hands.
It occurred in multiple countries, but it was the worst in the United States. In the United States, millions of people were affected by it, including the rich. During the Depression, the rich were still ok, but many of the poor and middle class families lost their jobs, homes, and money. Hundreds of thousands of people had to live Hoovervilles, which were shantytowns that were named after the President at the time, who many people blamed for the Depression. The Great Depression was the worst economic disaster to ever take place in the United States.

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