The unequal distribution of wealth throughout America was the single largest cause of the depression of 1930's. From the beginning of the twenties, the total income of the U.S. jumped from $74 billion dollars in 1922, to an astonishing $89 billion dollars in 1929. On paper this jump looked good, but the gains were so unevenly distribut

With so many problems looking America in the face, a change was in order and it occurred when Franklin Roosevelt took over the presidency in 1932. With a fresh face in office, the winds of change began. Roosevelt enacted a set of acts that comprised the New Deal. These mostly set up new agencies to regulate troubled markets. One such agency set was the Civilian Conservation Corps, which put a focus on keeping our environment clean and plush. This system was run by the Army and took young men off the streets and put them to work cultivating our country. There jobs were often general but well worth it because it was a paying job, and that was something that these men hadn't seen in a while (A New Deal).

Now our society was faced with many problems that they never had to contemplate before. This was a drastic change and people were forced to adapt to the new living conditions that were forced upon them. People who were used to living comfortably were now squeezing every penny to the last drop. Unemployment, poverty, sickness, hunger and other things plagued the U.S. for the next decade.

The one question that every person asked in the Great Depression was this: whose fault was it? Some blamed bankers, stockbrokers, and businessmen but most fingers pointed to Herbert Hoover and his Democratic Party. President Hoover had an economic approach similar to that of Europeans views of the "laissez-faire". Laissez-faire means to leave it alone, and that is exactly what Hoover did with the economy until it was too late. Entire markets had the free reign to do whatever they wanted without the government interfering. With no government control, the business's set up monopolies, which dramatically cornered markets while consumers could only stand back and watch. Also, business's set up their own taxes, which allowed them to pay little for what they bought. Plus, many people were saving their money without putting it in the bank. Consumption along with investment were going down dramatically. Now the money differential between the classes was defined and it kept growing until the depression started.

Hoover's attitude towards the economy left the markets to spark their own sales and production but nothing close to that happened. The basis of the laissez-faire view was that business would heal their own wounds naturally. Jobs would be created and people would have money to spend leading to more production and business. This idea was so far from what was really happening. When the nation's economic situation started to go down hill, Hoover thought that if he balanced the budget and cut spending by the government things would even out. By cutting government spending he cut off much needed money that was going into the economy leaving the money supply even weaker. Right before the depression started, people were realizing that banks had little money. President Hoover tried to give emergency loans to banks but there was no use because the countries economic structure was about to crumble.

Now the nation was faced with unequal distribution not only in society, but industry too. When you combined that with increasing debts owed by consumers who bought items on credit and over production, the result was a drastic decrease in stock prices in the stock market on October 24, 1929. Investors started to panic and sold stocks in enormous amounts and one week

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Approximate Word count = 2288
Approximate Pages = 9 (250 words per page double spaced)