Great Depression 8


"The Great Depression of the 1930's was a worldwide phenomenon composed an infinite number of separate but related events." The Great Depression was a time of poverty and despair caused by many different events. Its hard to say what caused this worldwide depression because it's all based on opinion as opposed to factual data. There are many contributing factors but not one specific event can be pin pointed for starting the depression. It is believed that some events contribute more than others-such as the Stock Market Crash of 1929.
The Stock Market Crash of 1929 was in the majorities opinion, a long and overdue crash that was bound to happen. Prices sky-rocketed so high that when ...

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and many others speeches like this scared people into selling there stocks before the inevitable would happen. This was a leading causes that assisted the Great Depression become one of the bleakest and most studied events in the history of our country: yet not the only cause.
Another large contributing factor was Mother Nature, I say this because in Oklahoma the weather was so dry that the farmers were unable to harvest their crops: these farmers became known as Okies. The land was a barren wasteland of dust and dirt in which it got it's name the Dust Bowl. In other areas, the extreme opposite took place: farmers overproduced and prices rapidly dropped because the demand decreased. The drastic result of this oversupply made it hard for farmers to make money due to the fact that they had so much that they were forced to sell it at substantial low priced just to remain competitive enough to make even the small profit they were making. The imbalances were however, self ...

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That discouraged investors and slowed the economy down. Another good explanation was the bad distribution of wealth for the cycles. During these challenging and difficult times the rich opted not to spend there money: they saved in banks, vaults, etc. This resulted in increased investments, more production, and eventually more goods piled up on shelves and warehouses. Prices fell, production was cut back and workers were discharged. As a result, the economy entered the depression phase of the cycle.
The crisis stage of the cycle was brought about by bank failures and by irrational selling of stocks ;thus causing business failures, a slowing in production, a rise in unemployment, and ...

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PAPER DETAILS
Added: 10/14/2007 12:46:33 AM
Category: World History
Words: 1885
Pages: 7

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