The Great Depression

The Great Depression is probably one of the most misunderstood events in American history. It is routinely cited, as proof that unregulated capitalism is not the best in the world, and that only a massive welfare state, huge amounts of economic regulation, and other interventions can save capitalism from itself (Main Causes 1). The Great Depression had important consequences and was a devastating event in America, however many good policies and programs became available as a result of the great depression, some of which exist even today.
When the stock market crashed in October 1929, the nation plummeted into a major depression (Nelson 1). An economic catastrophe of major proportions ...

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the goods they had helped to produce (Main Causes 1). The financial and banking systems were very unregulated and a number of banks had failed during the 1920s. The construction and automotive industries, whose booming business had been made possible by the prosperity earlier in the decade, slowed (Nelson 1). Declining sales resulted in higher rates of unemployment.
America was witnessing a breakdown of the Democratic and free enterprise system as the US fell into the worst depression in history (Nelson 1). The economic depression that beset the United States and other countries was unique in its severity and its consequences. At the depth of the depression, in 1933-1935, one American worker in every four was out of a job (Nelson 2). It was a time when federal and state officials were still developing work programs for the unemployed (Nelson 1). This great industrial slump continued throughout the 1930's, shaking the foundations of Western capitalism.
Prior to the Great ...

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The Great Depression. (2011, March 21). Retrieved June 17, 2019, from
"The Great Depression.", 21 Mar. 2011. Web. 17 Jun. 2019. <>
"The Great Depression." March 21, 2011. Accessed June 17, 2019.
"The Great Depression." March 21, 2011. Accessed June 17, 2019.
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Added: 3/21/2011 07:39:31 PM
Submitted By: sh4dyyy
Category: Economics
Type: Premium Paper
Words: 728
Pages: 3

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