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They often did not have much extra money with which they could invest in the stock market, so most of them didn't have much to lose when it crashed (Temin, 31). They might have lost a little bit when it crashed, but they still had jobs to go to. Industry had to go on, regardless of what the rest of the country was doing (Temin, 35). These workers were building things that the country had to have, so their jobs were fairly safe (Temin, 36).
Even though such a large segment of society was affected by the Great Depression, many history texts and other literature make it sound as though everyone suffered greatly. This is not entirely true as there were many people, such as the industrial workers mentioned previously, that did not have money in the stock market and did not lose their jobs when the market crashed and the Great Depression began (Christiano, Motto, & Rostagno, 1127. This does not mean that the depression of the 1930s should be made light of. It was a very serious time in history.
It is necessary to remember, however, that not everyone in the country suffered and the market eventually recovered. Only those that took their own lives really...
Those that had a lot of money to invest in the market were the hardest hit, and many of these people lost their large homes and many of their assets. Some fear that this kind of market crash and depression could actually happen again.
Works Cited
Bordo, Michael, Erceg, Chris, & Evans, Charles (2000). "Money, Sticky Wages, and the Great Depression." American Economic Review 90, 1447-1463.
Christiano, Lawrence, Motto, Roberto, & Rostagno, Massimo (2003). "The Great Depression and the Friedman-Schwartz Hypothesis." Journal of Money, Credit, and Banking 35, 1119-1198.
Cole, Harold, & Ohanian, Lee E. (2000). "Re-considering the Contributions of Money and Banking Shocks to the U.S. Great Depression." In Macroeconomics Annual, edited by Ben Bernanke and Kenneth Rogoff. Cambridge, MA: MIT Press.
Ohanian, Lee E. (2001). "Why Did Productivity Fall So Much During the Great Depression?" American Economic Review Papers and Proceedings…
Works Cited
Bordo, Michael, Erceg, Chris, & Evans, Charles (2000). "Money, Sticky Wages, and the Great Depression." American Economic Review 90, 1447-1463.
Christiano, Lawrence, Motto, Roberto, & Rostagno, Massimo (2003). "The Great Depression and the Friedman-Schwartz Hypothesis." Journal of Money, Credit, and Banking 35, 1119-1198.
Cole, Harold, & Ohanian, Lee E. (2000). "Re-considering the Contributions of Money and Banking Shocks to the U.S. Great Depression." In Macroeconomics Annual, edited by Ben Bernanke and Kenneth Rogoff. Cambridge, MA: MIT Press.
Ohanian, Lee E. (2001). "Why Did Productivity Fall So Much During the Great Depression?" American Economic Review Papers and Proceedings (May 2001), 34-38.
There was little support for an Equal Rights Amendment, largely due to the belief that there were other problems to solve first, but the mindset of women was well set for what would be their need in the workforce during World War II. However, while large numbers of women worked during the Depression, scholars often see their status slightly decreasing because the American Federation of Labor, for one, did
Great Depression Angela Thomas The Great Depression was a pivotal time in the history of the United States and as a result, American business, banking, agriculture and society were drastically altered. It is commonly believed that the crash of the New York stock market at the end of October 1929 caused the Great Depression, but in reality this turbulent period of American history was brought on by a number of factors. And
Great Depression Dorothea Lange's iconic picture of the Great Depression in America is titled simply, "Migrant Mother." The title depersonalizes the image of Florence Thompson, who Jennifer Keene claims is "angry and bitter" that the photographer never asked her name, nor used the photograph to help the poor. According to Keene, Thompson believes that Lange profited from the photo without fulfilling the original promise to inspire government aide for the poor.
In fact, from 1923-1929 corporate profits rose 62% and dividends rose 65%." (McElvaine R.S. p. 39) This is further evidence not only of the inequality of general wealth distribution, but also of the severe imbalance that was to create havoc in the economy. This dilemma was also further exacerbated by the fact that the Federal Government encouraged this situation. For example, President Coolidge signed the Revenue Act of 1926, which
Great Depression was the single most significant economic catastrophe of the 20th century, brought on by a lack of the ability to control monetary pricing as well as a period of sustained high unemployment. Unlike modern economies, pre-Great Depression governments did not have many tools to sway the economy one way or the other, there was a long standing belief in "laissez faire" capitalism, with the premise that all markets
Thus, when stricter regulations should have been implemented, they were not, and the avoidable became utterly unavoidable. The president Hoover's initial reaction was to allow the market to fix itself, thus going alongside his lassiez-faire beliefs. Yet, he was forced by Congress to act, but did so minimally (Wilkison 1). Thus, it was not long before the nation was in demand of a more hands on president who was