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How Did The Great Depression Come To Be?

770 words - 4 pages

The Great Depression is known as one of the deepest and long-lasting economic downturn in the history of the Western industrialized world. The Great Depression began soon after the stock market crash of October 1929, sending Wall Street into a panic, wiping out millions upon millions of investors. The seven following years include investment dropping and companies to lay off workers. It wasn't until 1930 where President Roosevelt took some reforming measurements that soon lessen the greater effect of the depression. What exactly caused the Great Depression? There was only one question left in everyone’s mind that still stunt economists and economic historians today. After some hard debate ...view middle of the document...

Trade between other countries had also become as challenging, U.S. was unable to trade with other countries for a period of time - this could have been a factor in the evolution of The Great Depression. In 1958, a law was passed that prevented U.S. from trading with any other country for a long period of time. The reason being was that U.S. insisted on purchasing only in their country alone to raise up their money back, another reason for this being was because U.S.’s product-making was so poor that no other nation wanted to trade with U.S. at that time (Doc P). There was a small image created in relation to the world trade decline problem. The image is of a man staying in his country while others try to pass into the country but are unable to because the country is surrounded by a wall and lifted up high. This image is to represent America avoiding any trade contact with any nation eager to come in and trade with them, currently showing their situation at that moment (Doc O). Decline in trading had not helped America, but hurt it.
What mainly leads to The Great Depression was the overconsumption of products. Everyone at this time was...

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