What were the causes and consequences of the great depression?
The great depression began with the collapse of the New York Stock Exchange in October of 1929. Some of the cited causes of the Great Depression include: Investing on margin, land speculation in Florida , a decade long agricultural recession, irresponsible loan policies by banks, and a lack of regulation on capital markets. After the collapse, the economy fell into years of extended economic downturn, decline and unemployment. By 1932, one of four Americans was out of work. One in three banks had closed and millions of land owners lost their property. With the American financial house in ruins, loans to Germany, Britain, and France stopped. American banks called in their national and international loans. When no one could repay, banks closed, sparking bank runs throughout the United States. The Smoot-Hawley Tariff was passed in 190 by the United States congress.
United States
United States
United StatesThis tariff erected an impenetrable tariff wall around the United States. Britain, France, and Germany soon created similar tariffs. This was the beginning of economic nationalism.
Great Depression
You make some interesting points in your essay on the causes and consequences of the Great Depression but I would have liked to have read more. For example, you might have devoted a separate paragraph or two explaining each of the following causes: investing on margin, land speculation in Florida , a decade long agricultural recession, irresponsible loan policies by banks, and a lack of regulation of capital markets.
I agree that some of the consequences of the Great Depression were years of extended economic downturn, decline and unemployment. You might also have mentioned other consequences such as the rise of tyrants like Adolf Hitler who took advantage of the hard times to manipulate their countrymen into placing trust in them. It is widely agreed that passage of the Smoot-Hawley Tariff exacerbated the situation, but you need to change the year of its passage from 190 to 1930.
What you've written isn't bad, but you need to provide more detail and explanation as the Great Depression was one of the more momentous events of the twentieth century, causing widespread human misery, and merits a fuller discussion. I hope that what I have said helps you with revision and I will forego rating your essay for now.
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