The Great Depression in America
Great Depression in America
It is well known as the great depression which refers to a very severe economic downturn that took place on both U.S and global level in 1930’s. This occurred following the stock market crash in 1929 that signaled the beginning of decades characterized with economic problems as well as difficulties in people’s lives.
According to Matés-Barco (2023) it was characterized by a severe economic downturn, marked by the 1929 stock market crash, widespread unemployment, and a collapse of the banking system. American life changed dramatically during this time leading to unprecedented levels of unemployment prompting a re-evaluation of economic policies and the role of government. Families struggled to make ends meet, and poverty became pervasive.
In response, President Franklin D. Roosevelt came up with a programme called the New Deal — which had numerous programmes and reforms aimed at relieving people, triggering quick recovery and formulating permanent solutions to problems. It also brought the alphabet agencies like CCC, WPA, and TVA which were unique in their ways of dealing with unemployment, public works, and financial control (Munchner, 2022). Roosevelt sought to help many unemployed Americans.
As a result, Mates-Barco (2023) noted that such efforts helped reduce the burden of the Great Depression and set the stage for an economically stable system by providing relief, recovery, and reform measures.
In conclusion one cannot help but conclude that the great depression forever altered the way Americans live both socially, economic and culturally. These were difficulties which shaped public opinion and policy making over a long period of time, spanning several decades……
Great Depression in America
In conclusion one cannot help but conclude that the great depression forever altered the way Americans live both socially, economic and culturally. These were difficulties which shaped public opinion and policy making over a long period of time, spanning several decades……
