The Great Depression

Essay by Flamegurle03A+, March 2003

download word file, 2 pages 5.0

My essay is about the great depression. It gives my opinion on why I think it was the most influential time in american history. It has information to back up my statement explaining how it affected America as a country and its individuals.

The Great Depression

I believe the great depression was the most influential event in the 20th century because not only did our country suffer from not having money, but it caused the people to suffer. They didn't have enough money to buy food, nor other necessities. It taught our country how to keep itself from going bankrupt, and how to manage money. Unfortunately it didn't help all of the individuals.

The Great Depression was the worst economic slump ever in U.S.

history, and one which spread to virtually all of the industrialized

world. The depression began in late 1929 and lasted for about a

decade. Many factors played a role in bringing about the depression;

however, the main cause for the Great Depression was the combination

of the greatly unequal misdistribution of wealth throughout the 1920's,

and the extensive stock market speculation that took place during the

latter part that same decade.

The mistake of distributing wealth in the

1920's existed on many levels. Money was distributed disparately

between the rich and the middle-class, between industry and

agriculture within the United States, and between the U.S. and Europe.

This imbalance of wealth created an unstable economy. The excessive

speculation in the late 1920's kept the stock market artificially

high, but eventually lead to large market crashes. These market

crashes, combined with the misdistribution of wealth, caused the

American economy to capsize.

A major reason for this large and growing gap between the rich

and the working-class people was the increased manufacturing output

throughout this period. From 1923-1929...