Education, History
The Greatest Depression in the History of the United States
The greatest depression in the US was a sudden social and economic shock for the whole country. It gave rise to a completely new level of poverty, crime, unemployment and other similar derivatives from social tension. To such a comprehensive crisis, the state and society were extremely unprepared because the previous period since 1923 was an extremely prosperous stage of rapid economic growth and prosperity.
The causes of the Great Depression of 1929-1933
This rapid and seemingly cloudless growth began to slow down already in 1929. In August, throughout the United States, the main production indicators began to decline gradually. But then the economic slowdown that began did not receive any significant attention. It is believed that the greatest depression for all the years of the United States began with the stock market crash on October 24 of the same year. On this day, shares of all stock exchanges began to fall catastrophically: first on the domestic, and then on the foreign market. This day was called by the Americans afterwards "Black Thursday". In the causes of these events, economists later identified a number of aggregate causes: among them excessive production of goods - overproduction and surplus, as a consequence; Investment in some industries beyond the need (the emergence of the so-called soap bubble); A sharp increase in the number of people, which led to a shortage of money.
Difficult years
New Deal
The government of Herbert Hoover has never been able to cope with a comprehensive decline in the economy, production and social standards. In 1932, Franklin Delano Roosevelt was elected president, who proposed a set of measures to
Similar articles
Trending Now