An example of Robbins philosophy was that the monetary confusion and rampant inflation after the war had hampered. Many policies that the government put out hurt and slowed the recovering economy.
One act known as the American Hawley-Smooth of crushed the European industry which was already unstable from the depression. It stopped European trade and prevented European from earning the almighty dollar. This Act also destroyed any possibilities of regaining the money loaned to them during World War I. The collapse of the German Banking system in had monumental affects on the entire world.
It aided to turn, what would have been, a small economic problem into the Great Depression. The Germans also blamed the depression on the harsh terms imposed by the Versailles Treaty, especially the reparation they were forced to pay.
They claimed the reparations brought down the economic vitality of their country to an all time low. Not one single book I have read has blamed any one specific country for the start of this catastrophe. As a matter of fact, each book has said if the countries would have worked in unison rather than focusing solely on themselves we might not have ever heard of the Great Depression.
Nobody knows what the result would have been if the countries worked together and resolved the problem before it festered as it did. No one ever envisioned the extensive duration of the depression. My only prayer is that we never see another time like this again. When American producers cut back on their purchases of raw materials and other supplies, the effect on other countries was devastating. After Great Britain was again forced to leave the gold standard in , many foreign banks withdrew deposits from America in the form of gold: High unemployment was the most alarming aspect of the Great Depression.
It has been estimated that in about thirty million workers were jobless, about two-thirds of these in three countries — the United States, Germany, and Great Britain.
If anything, this estimate is low. The homeless rate increased dramatically. So much so that many people did not even have a roof over their heads. The majority of homeless people had nothing at all and the minority made shacks on vacant land: Women played a new role during this time. When a man lost his job and was having difficulty locating a new one, it was up to the women to work. Worldwide, in about one-third of all workers were women.
There was also, however, the more immediate problem of what to do about the people who were unemployed and needed assistance merely to survive. Whether efforts to aid the unemployed would help to end the depression or make it worse was a matter of risk-taking.
Another way to solve the unemployment problem was to export people to other countries that had available jobs so that people could survive.
I do not think the Great Depression could have been avoided: There is no way of telling when or if the next depression will occur. I feel if the governments worked together then the depression would not have been such a catastrophe as it ended up being. Did the nations not know that they influenced the course of the depression and in turn, the course of history. Farmers could no longer pay their loans and some banks closed down.
The American economy policy in the s was laissez faire and this led to uneven distribution of wealth. The rich controlled major sources of income and became richer. There was a significant and constant decrease in spending. International policies in Europe and America that supported an increase in tariffs brought international trade to a standstill. Nations that owed America billions of dollars could not honor their obligations because of the effects of the depression. Despite these events, Americans continued to invest heavily in the stock market, which hit its highest mark in A decline began soon after and on 24th October , investors began to sell millions of shares in panic as the decline persisted.
The stock market crashed on 29th October Black Tuesday and investors including banks lost billions of dollars. The effects of the Great Depression were more severe in America but were felt across all world economies.
Investors in the stock market could not pay their loans. These included real estate companies. People demanded their deposits from banks in panic and as a result, there was less money in circulation. Companies closed down because of deflation and low demand while some laid down thousands of their workers.
Consequently, unemployment levels increased. Real estate properties that were once priced possessions lost value.
6. Causes of the Great Depression i. World-wide and domestic factors 6. Summary of the effects of Great Depression 7. Conclusion 8. Works Cited. The Great Depression. Background. The great depression is an immense tragedy that took millions of people in the United States from work.
“The Great Depression of the ’s was a worldwide phenomenon composed an infinite number of separate but related events.” The Great Depression was a time of poverty and despair caused by many different events. Its hard to say what caused this worldwide depression because it’s all based on opinion as opposed to factual data.
The Great Depression - This paper is about the Great Depression and how President Hebert Hoover plan was unsuccessful in dealing with the depression. Also, how the Great Depression affected the women in the United States. In the ’s is when the Great Depression begun. The Great Depression and the Dirty Thirties Essay examples - There were many causes of the Great Depression (need help on the first sentence). Yes, the stock market crash was a main reason of the Depression, but it actually began long before that, with the Roaring 20’s.
The Great Depression. The Great Depression was the worst and longest economic downturn in the history of the world economy. The Depression began in and lasted until This economic meltdown affected Western industrialized economies but its effects spread across other nations. The great depression essay in front of you offers a detailed summary of what caused the Great Depression that took place between and - a period of worldwide economic crisis that began in the United States of America. From to around the s, a lot transpired across the globe.