Great Depression

A detailed Summary of Great Depression


Analyze the causes of the Great Depression and describe the methods used to remedy it.

The Great Depression, which plagued the U.S. from 1929 to 1939, was truly a product of World War I. All throughout the war the American economy had been booming and expanding. We had been supplying all the countries involved with the war with anything and everything they needed, be it food, clothing or arms. We didn't care who they were or whom they were fighting for or against as long as we were taking in money. Everyone had been making money and pouring it into farms, factories, and equipment. The demand was at a level it had never come close to before and we were more than willing to meet this demand with supply. Americans quickly got used to being employed, having money, and a high standard of living. When the war ended, society continued on this path. Unfortunately, the demand for our supplies was gone. We didn't know what to do. Between 1929 and 1933 world output of goods fell by an estimated 38% because the demand was gone.

As the demand died down, farms were overproducing, factories were overproducing, and this was leading to prices dropping. With prices dropping, companies had to cut down the numbers of employee


Throughout all of Roosevelt's efforts, the New Deal never did really pull the United States out of the depression. He did wonderful things but escaping depression was not possible with the state the economy was in.

The Great Depression wasn't something that could in any way be immediately fixed. Franklin Delano Roosevelt who took over the presidency after Herbert Hoover realized this. He realized that much had to be done. He organized the "New Deal" to help America escape from its terrible economic state. He realized tht he had to reform capitalism in order to preserve it. The measures of the New Deal included the government taking a part in the economy like it never had before. The government began to put controls on production to raise prices again. The government organized many new agencies to provide employment for Americans. The government left the gold standard and reduced the value of the dollar. The government organized the National Recovery Administration, which reduced competition and fixed prices and wages while sponsoring public works projects. Regulations were placed on every industry through this. There was the Works Progress Administration, the National Labor Relations Act, the the Agricultural Adjustment Act, and others.

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Some common words found in the essay are:
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Approximate Word count = 867
Approximate Pages = 3 (250 words per page double spaced)

Category: History

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