Causes of the Great Depression |
Herbert Hoover |
The causes of the Great Depression in the early 20th Century are a matter of active debate among economists, and are part of the larger debate about economic crisis, although the common belief is that the Great Depression was triggered by the 1929 crash of the stock market. The specific economic events that took place during the Great Depression have been studied thoroughly: a deflation in asset and commodity prices, dramatic drops in demand and credit, and disruption of trade, ultimately resulting in widespread unemployment and hence poverty. However, historians lack consensus in determining the causal relationship between various events and the government economic policy in causing or ameliorating the Depression. The initial stock market crash triggered a "Panic Sell-off" that made the stock market go even lower.
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Herbert Hoover was 31st President of the United States. He was a professional mining engineer, and was raised as a Quaker. A Republican, Hoover served as head of the U.S Food Administration during World War I, and became internationally known for humanitarian relief efforts in war-time Belgium. As the United States Secretary of Commerce in the 1920s under President Warren G. Harding and Calvin Coolidge, he promoted partnerships between government and business under the rubric "economic modernization". |
Depression in the City |
Franklin D. Roosevelt |
Throughout the industrial world, cities were hit hard during the Great Depression, beginning in 1929 and lasting through most of the 1930s. Worst hit were port cities and cities that depended on heavy industry, such as steel and automobiles. Service-oriented cities were hurt less severely. Political centers such as Washington, London and Berlin flourished during the Great Depression, as the expanded role of government added many new jobs. The worldwide Great Depression had a moderate impact on the French economy, which proved resilient. Conditions worsened in 1931 bringing hardships and a more somber mood. Unemployment rose, and hours of work were cut; however the price of food sharply declined, offsetting some of the hardship
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Franklin D. Roosevelt was an American statesman and political leader who served as the 32nd President of the United States. A democrat, he won a record four elections and served from March 1933 to his death in April 1945.He was a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic depression and total war. His program for relief, recovery and reform, known as the New Deal, involved the great expansion of the role of the federal government in the economy. A dominant leader of the Democratic Party, he built the New Deal Coalition that united labor unions, big city machines, white ethnics, African Americans, and rural white Southerners. The Coalition realigned American politics after 1932, creating the Fifth Party System and defining American liberalism for the middle third of the 20th century
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The New Deal |
Eleanor Roosevelt |
The New Deal was a series of domestic programs enacted in the United States between 1933 and 1938, and a few that came later. They included both laws passed by Congress as well as presidential executive orders during the first term of President Franklin D. Roosevelt. The programs were in response to the Great Depression, and focused on what historians call the "3 Rs": Relief, Recovery, and Reform. That is Relief for the unemployed and poor; Recovery of the economy to normal levels; and Reform of the financial system to prevent a repeat depression
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Eleanor Roosevelt was an American politician, diplomat, and activist. She was the longest-serving First Lady of the United States, holding the post from March 1933 to April 1945 during her husband President Franklin D. Roosevelt's four terms in office. President Harry S. Truman later called her the "First Lady of the World" in tribute to her human right achievements.
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Depression in the Countryside |
Hardship for Children |
The Great Depression represents a peculiar epoch in the history of twentieth-century America. The nation's continuous march toward technological, political, and economic ascendancy stood still for a time. After the stock market crash of 1929, the country was sent into a painful tailspin as a mysterious illness infected and spread to its every organ. Americans spent a decade attempting to vanquish the malady; however, an effective medicine was delayed until the onset of World War II. Although it ushered in an era of unprecedented carnage, the conflict did finally end a depression that had gripped the nation for a decade. During the period, the crisis produced unemployment, poverty, and unrelenting want, which took a terrific toll upon Americans.
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Children also suffered during the 1930s. Poor diets and a lack of money for health care led to serious health problems. Milk consumption declined across the country, and clinics and hospital reported a dramatic rise in malnutrition and diet-related disease, such as rickets. At the same time, child welfare programs were slashed as cities and states cut their budgets in the face dwindling resources.
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