The great Depression and the World Wars

"A Look at the Great Depression of 1936"
After reading through the article, I gained very good information of what really happened during the era of 1930s in USA. Whereas I think the main cause for the Great depression was the huge stock market crash that occurred in October 1929 other than the'Dust Bowl'. The great Depression affected almost every nation. It caused a sharp decrease in world trade because each country tried to help its own industries by raising tariffs on imported goods. Everyone blamed the President Herbert Hoover at that time and people were very upset about his decisions involving the economy. They dealt with anger and elected President Franklin D. Roosevelt. He was the one who helped get the economy back in shape by creating a program called the'New Deal'. I think the Great Depression is 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 other interventions can save capitalism from itself. Among the many myths surrounding the Great Depression are that Hoover was a'laissez faire' president and that FDR brought us out of the depression. What caused the Great Depression? To get a handle on that, it's necessary to look at previous depressions and compare. The Great Depression was by no means thefirst depression this country ever had, but it was clearly the worst. What made it different that the rest? At the time of the Great Depression, government intervention in the economy was higher than it had ever been and a special government agency had been set up specifically to prevent depressions and their associated problems, such as bank panics. One agency was the Federal Reserve Board and it was to have been the loaner of last resorts for banks in order to prevent collapses as it happened before. I think the most dynamic fiasco, ever recorded which affected life in eve…


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