Social Impact of the Great Depression

Analyzing the Causes of the Great Depression

Each of these reasons probably played a part in the Great Depression.

Friedman and Schwartzs , which provided an extraordinarily detailed account of the effects of monetary policies during the 1930s and put the Great Depression into the broader context of American monetary history, returned the collapse of the banking system to center stage. Their interpretation was challenged in turn by Peter Temin in (1976) who defended the Keynesian interpretation. Subsequent work, however, continued to emphasize the banking crisis. The 1983 research of Ben Bernanke, who later became chair of the U.S. Federal Reserve, was particularly influential. Bernanke argued that the banking and financial crises had disrupted the ability of the banking system to act as an efficient financial intermediary. Even sound businesses found it hard to borrow when their customary lender had closed its doors and the assets they could offer as collateral to another lender had lost value. The Bernanke thesis not only explained why the contraction was severe, but also why it took so long for the economy to recover: It took time for financial markets to rebuild the relationships that had been sundered in the early 1930s.

(Launfal Press, Los Angeles: 2011) tells why the Great Depression occurred.

The fact is, the Great Depression was caused many different factors.

20th century theatre is when the Great Depression plagued Europe, Because of this playwrights started to make plays on realism like John Osborn’s Look back in anger.

The Great Depression started in the late 1920s and continued on until the early 1940s.

On Thursday, October 24, the market plunged at the opening bell, causing a panic. Though investors managed to halt the slide, just five days later on "Black Tuesday" the market crashed, losing 12 percent of its value and wiping out $14 billion of investments. Two months later, stockholders had lost more than $40 billion dollars. Even though the stock market regained some of its losses by the end of 1930, the economy was devastated. America truly entered what is called the Great Depression.

This event created a domino effect that helped lead to The Great Depression.


The great depression is a major contributor for this.

America had gone through hard times before: a bank panic and depression in the early 1820s, other economic hard times in the late 1830s, the mid-1870s, and the early and mid-1890s. But never did it suffer an economic illness so deep and so long as the Great Depression of the 1930s.

The Great Depression was a massive economic depression.

Events such as the stock market crash, an economy suffering from being inflated, overuse of credit, a farming crisis, and other events led America to the economic downfall known as the Great Depression.

There were many factors that caused the Great Depression.

We can learn from the occurrences during The Great Depression that government involvement is the deciding factor of whether an economy will expand or continue to shrink during a recession....

The great depression was a time of horror and failure.

While the Great Depression affected some sectors of the economy more than others, and thus some regions of the country more than others, all sectors and regions experienced a serious decline in output and a sharp rise in unemployment. The hardship of unemployment, though concentrated in the working class, affected millions in the middle class as well. Farmers suffered too, as the average price of their output fell by half (whereas the aggregate price level fell by only a third).

Life was portrayed a few different ways during the Great Depression.

The Great Depression followed almost a decade of spectacular economic growth. Between 1921 and 1929, output per worker grew about 5.9 percent per year, roughly double the average in the twentieth century. Unemployment and inflation were both very low throughout this period as well. One troublesome characteristic of the 1920s, however, was that income distribution became significantly less equal. Also, a boom in housing construction, associated in part with an automobile-induced rush to the suburbs, collapsed in the late 1920s. And automakers themselves worried throughout the late 1920s that they had saturated their market fighting for market share; auto sales began to slide in the spring of 1929.