Essay On Causes Of The Great Depression

Virtually none enjoyed such common urban amenities as electricity and indoor plumbing.Other maladies began to appear, faintly at first, but with mounting urgency as the Depression began to unfold.

Virtually none enjoyed such common urban amenities as electricity and indoor plumbing.

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The long-suffering countryside was home to nearly half of all Americans in the 1920s; one out of every five workers toiled on the nation’s fields and farms.

Yet for most of the 1920s the mood of much of the country, impervious to news of accumulating international dangers and buoyed by wildly ascending stock prices as well as the congenital optimism long claimed as every American’s birthright, remained remarkably upbeat. The Great Crash in October sent stock prices plummeting and all but froze the international flow of credit. Herbert Hoover, elected just months earlier amid lavish testimonials to his peerless competence, saw his presidency shattered and his reputation forever shredded because of his inability to tame the depression monster—though, again contrary to legend, he toiled valiantly, using what tools he had and even inventing some new ones, as he struggled to get the upper hand.

By 1932, some thirteen million Americans were out of work, one out of every four able and willing workers in the country.

To a much greater degree than in the earlier cases, the changes set in motion by the Great Depression and World War II had their origins outside the United States—a reminder of the increasing interdependency among nations that was such a salient feature of the twentieth century.

The Great Depression was a worldwide catastrophe whose causes and consequences alike were global in character.