This website uses cookies to ensure you have the best experience. Learn more

Causes And Effects Of The Great Depression University Of Reading Malaysia Essay

1096 words - 5 pages

Foundation in Business
All coursework submitted for assessment must be accompanied by a copy of this sheet.
Student number:
25827603
Tutorial Group No:
1
Module:
Economics
Class Tutor:
Ms. Zahara
Title of assignment:
Economics Essay. (Great Depression)
PLAGIARISM DISCLAIMER
By completing and sealing the section in the top right of this document, I certify that this is my original work and that the use of material from other sources has been properly and fully acknowledged in the text. I understand that to use material from unacknowledged sources is cheating and that disciplinary action will be taken by the University against those caught cheating
PLEASE TICK THE BOX TO SHOW YOUR AGREEMENT WITH AND UNDERSTANDING OF THE ABOVE STATEMENT ??
Date: ____5/9/2017
Introduction.
Great Depression was one of the international worst economic depression in the history of United States which lasted from 1929 to 1939 (Kelly, 2017). $12.9 million of stock was sold by trader on a day (Amadeo, 2017). The amount was triple than the usual amount. The Great Depression was not only cause by one event but was caused by many types of event (Kelly, 2017). In the United States, the Great Depression disabled the president who was Herbert Hoover and led Franklin D. Roosevelt election in the year 1932. On the year 1933 was the height of Depression (Amadeo, 2017). The nation?s workforce on unemployment had risen from 3 percent to 25 percent and homelessness increased. 42 percent wages had reduced for those who had work.
Timeline of Great Depression.
On October 24th1929, ?Black Thursday? started. $12.9 million shares of stock had been sold in one day by traders, the amount was triple than the usual (Amadeo, 2017). Life during the Great Depression caused a huge number of famers to suffer the loss of their farms (Amadeo, 2017). On August 1929 to June 1938 was the timeline of Great Depression which occurred approximately ten years (Amadeo, 2017). October 25th and 26th one percent stocks gained on Friday yet one percent was loss on the half day of Saturday (Amadeo, 2017). Black Monday (October 28th) 13 percent of stock prices decreased (Amadeo, 2017). As a result, 16 million shares had been traded and another 12 percent was loss by the market on Black Tuesday (October 29th). Therefore, the stock market continued to decrease (Amadeo, 2017). Consumer spending and investment decreased over the next few years causing unemployment to increase as failing companies unwaged labours (History.com Staff, 2009). Great Depression had touched the lowest point in the year 1933, 15 million American workers were unemployed and 650 of the bank had flopped (Histroy.com Staff, 2017).
Causes of Great Depression.
Economist believe that there are numerous theories that explains the causes of Great Depression. Stock Market Crash of 1929 is the first theory that caused the Great Depression (Kelly, 2017). As mentioned above as the ?October 29th, Black Tuesday?. Five days before Black Tuesday which is on...

Find Another Essay On Causes and Effects of the Great Depression - University of Reading Malaysia - Essay

Causes of the Great Depression Essay

755 words - 3 pages Causes of the Great Depression The Great Depression also called Depression of 1929, or Slump of 1929, began in 1929 and lasted until 1939. It was the longest and most severe depression ever experienced by the industrialized world. Though the United States economy had gone into depression six months earlier, the Great Depression may said to have begun with a catastrophic collapse of the stock market prices on the New York Stock Exchange

Causes Of The Great Depression Essay

3203 words - 13 pages Causes Of The Great Depression Missing Works Cited Between the late 1890’s, after the panic of 1893, and the late 1920’s, the American people led good lives in which most prospered. In the 1920’s the problems that led to the Great Depression were dispersed over a time of maldistribution of wealth, and what was called a bull market. A bull market is a stock market that is based on speculation. Speculation was a system of borrowing money to

Causes of the great depression

3278 words - 13 pages the real culprit. The truth behind the stock market crash is that it was the event that caused the already unstable economy to go over the limit. If the president and the stock market crash did not cause the Great Depression, then what did? According to research done on the Great Depression, the causes rest on of different factors, but can be put under two main categories. The responsibility for the Great Depression falls not only on the

causes of the great depression

582 words - 2 pages The Great Depression was a decade of poverty for many United States citizens. Starting in 1929, The Great Depression was a rough time not only for the U.S. but for many other countries. There are many causes for the Depression but the main cause was the combination of the greatly unequal distribution of wealth throughout the 1920's and the extensive stock market speculation(Gusmorino, 1). Other causes were the unsteadiness of the stock market

Causes of the Great Depression

815 words - 3 pages The Great Depression was the most catastrophic economic disaster in American history. It affected all of the US from sea to beautiful shining sea. Old and young, rich and poor, black and white, everyone suffered the consequences of the over extravagant Roaring Twenties. Businesses closed, everyone was up to their neck in debt, banks failed, and the mid-west was soon a dust bowl from over farming and reclaimed equipment. With the Smoot-Hawley

Causes of The Great Depression

1748 words - 7 pages than sixteen million of stock shares were sold that day. The stock prices were steadily moved downward as the stock prices were not going to be regained at any time soon. The years went by, maybe it has been more than two years which the market was drifting lower and lower. Prosperity comes to an end As seen, the first stage of the disastrous Great Depression is the stock market “crash”. The resources of the millions of Americans were wiped off as

Causes of The Great Depression

3306 words - 13 pages The Great Depression was the worst economic slump ever in U.S.history, and one which spread to virtually all of the industrializedworld. The depression began in late 1929 and lasted for about adecade. Many factors played a role in bringing about the depression;however, the main cause for the Great Depression was the combinationof the greatly unequal distribution of wealth throughout the 1920's,and the extensive stock market speculation that took

Causes and Effects of The Great Depression in the United States

1606 words - 6 pages The Great Depression is a defining moment in time for not only American, but world history. This was a time that caused political, economical, and social unrest. Not only did the Great Depression cause a world wide panic, it also caused a world wide crisis unlike any before it. This paper will analyze both the causes and the effects of the Great Depression in the United States of America. One cause of the depression is the effects of World War

Effects Of The Great Depression

2145 words - 9 pages Effects of the Great Depression The introduction of the discussion will focus on the origins of the Great Depression and the escalating events that led to it. This will provide adequate foundations to bring up questions and attempt to answer them in an objective fashion as to why and how the Depression affected different industrialized countries in different ways. The core of the debate will consist of detailed

This essay is about causes of the great depression

7047 words - 28 pages distributed. The wealthy made large profits, but more and more Americans spent more than they earned, and farmers faced low prices and heavy debt. The lingering effects of World War I (1914-1918) caused economic problems in many countries, as Europe struggled to pay war debts and reparations. These problems contributed to the crisis that began the Great Depression: the disastrous U.S. stock market crash of 1929, which ruined thousands of investors and

The Causes of the Great Depression

1189 words - 5 pages became famous . The 1920’s was an eventful era for Americans. Credit was introduced and the stock market was booming. What caused the worst depression in history? What events led up to the economic failure? Was the government aware that the crash was coming? Traditionally, President Roosevelt has been lauded as a savior of the economy and one of the greatest presidents we have had. However, there is another way to look at the causes of the Great

Similar Essays

Causes And Effects Of The Great Depression

3996 words - 16 pages C:\MSOFFICE\WINWORD\TEMPLATE\NORMAL.DOTApril 2, 1997The Causes and Effects ofThe Great Depression In AmericaFew Americans in the first months of 1929 saw any reason to question the strength and stability of the nation's economy. Most agreed with their new president that the booming prosperity of the years just past would not only continue but increase, and that dramatic social progress would follow in its wake. "We in America today," Herbert

Causes And Effects Of The Great Depression In America

3738 words - 15 pages hopes of receiving plate scrapings. Nearly 2 million youngmen simply took to the roads, riding freight trains from city to city, living as nomads.The economic hardships of the Depression years placed great strains on Americanfamilies, particularly on the families of middle-class people who had become accustomedin the 1920s to a steadily rising standard of living and now found themselves plungedsuddenly into uncertainty. It was not only unemployment

Causes Of The Great Depression Essay

651 words - 3 pages economic depression started and lasted until the start of the Second World War. The three causes of the Great Depression are installment buying, uneven distribution of wealth and the irrational behavior in the stock market. Installment buying serves as the first cause of the Great Depression. In the 1920s, a large number of American families purchased automobiles, refrigerators, vacuum cleaners and similar household products on credit. Many

Causes Of The Great Depression Essay

932 words - 4 pages seemed to rise, when they started to drop people overreacted. A domino effect was created by people panicking and selling stock because it would lower the stock price even further (“Economics Essays: Causes of Great Depression.”). When banks started going under that is when it really created a problem. With the faults in the banking policies, chaos was just waiting to happen. If people heard a bank they had their money in was on the verge of