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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 as the causes of the Great Depression are still being debated, so to are the effectiveness of President Franklin Delano oosevelt's "New Deal" solutions. What is agreed upon is that the Great Depression and oosevelt's New Deal changed America forever.
While there is still much debate as to the exact causes of the Great Depression, there is no doubt that it began with a decline in industrial production in early 1929. However, this decline did not necessarily mean…
Coleman, Amanda. (2010) "Rehabilitating the region: the new deal, gender, and the remaking of the rural South." Southeastern Geographer 50.2 (2010): 200+. Retrieved from Academic OneFile.
Hillstrom, Kevin. The Great Depression and the New Deal. Detroit: Omnigraphics. 2009. Print.
Himmelberg, Robert. The Great Depression and the New Deal. Westport: Greenwood. 2001. Print.
Temin, Peter. (1994). "The Great Depression, Historical Paper No. 62." The National Bureau of Economic Research. Retrieved from http://econ161.berkeley.edu/teaching_folder/Econ_210b_spring_2001/Readings/
There was little support for an Equal ights 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 not allow women to join unions and pushed employeers to hire men (Moran)
Minorities -- Most of America's minorities did not benefit from oosevelt's New Deal Programs. They were considered the "last hired, first fired" regardless of their tenure with the company, and because so many White Males were out of work, had a tougher time finding employment. A shortage of jobs in the American Southwest, however, led to the illegal deportation of 400,000 Mexican-Americans just so Whites could take those…
"America in the 1930s." June 2009. EyeWitnessesto History.com. Web. March 2013. .
Briggs, J. "1930's Race Relations in the American South." 3 March 2004. mgagnon.myweb.uga.edu. Web. March 2013. .
Feagin, J. Racist America: Roots, Current Relaities, and Future Reparations. New York: Routledge, 200. Print.
Moran, M. "1930s America: A Feminist Void?" April 1989. loyno.edu. Web. March 2013. .
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. On the other hand, Thompson's two youngest children are also depicted in the photograph taken in 1936. One of those daughters claims that it is only via self-reliance that economic independence is possible, suggesting that government aide is not necessarily the best or only way to help the poor. Indeed, the best way to help the poor at any time is to provide a diverse range of programs and resources. The "poor" should never be lumped together as a…
Keene, Jennifer. "Dorothea Lange and Migrant Mother." Video retrieved: http://media.pearsoncmg.com/ph/hss/SSA_SHARED_MEDIA_1/history/MHL/U.S./videos2/migrant_mom-large.html
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 in effect reduced tax for the wealthy. "... he was able to lower federal taxes such that a man with a million-dollar annual income had his federal taxes reduced from $600,000 to $200,000.. Even the Supreme Court played a role in expanding the gap between the socioeconomic classes. " (Gusmorino P.A. 1996)
This situation was further worsened by another imbalance, namely the disparity between supply and demand. This was to have far-reaching and damaging effect on the economy and was…
1929 -1939 - the Great Depression. Canadian Economy Online. July 7, 2005. http://canadianeconomy.gc.ca/english/economy/1929_39depression.html
Baer, Doug, Edward Grabb, and William a. Johnston. "Class, Crisis, and Political Ideology in Canada: Recent Trends." Canadian Review of Sociology and Anthropology 24.1 (1987): 1-22.
Bernanke, Ben S. "The Macroeconomics of the Great Depression: A Comparative Approach." Journal of Money, Credit & Banking 27.1 (1995): 1+. Questia. 8 June 2005 http://www.questia.com/ .
Christiano, Lawrence, Roberto Motto, and Massimo Rostagno. "The Great Depression and the Friedman-Schwartz Hypothesis." Journal of Money, Credit & Banking 35.6 (2003): 1119+. Questia. 8 June 2005
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 willing to implement new social and economic programs to get the United States back on track to economic prosperity.
When Franklin D, oosevelt took over the Oval Office, he inherited a multitude of problems still reeling from the onslaught of the Great Depression. In his formulation of a plan, oosevelt created the New Deal, which "sought to save capitalism and the fundamental institutions of American society from the disaster of the Great Depression," (Wilkison 1). Thus, oosevelt created a multi-faceted approach…
Ezzell, Patricia Bernard. "TVA: From the New Deal to a New Century." TVA Heritage Column. Retrieved 5 Dec 2009 from http://www.tva.gov/abouttva/history.htm
Gusmorino, Paul Alexander. "Main Causes of the Great Depression." Gusmorino World. 1996. Retrieved 4 Dec 2009 from http://www.gusmorino.com/pag3/greatdepression/ index.html
Hall, Thomas Emerson & Ferguson, David J. The Great Depression: An International Disaster of Perverse Economic Policies University of Michigan Press. 2001.
Kelly, Martin. "Top 5 Causes of the Great Depression." American History. Retrieved 4 Dec 2009 from http://americanhistory.about.com/od/greatdepression/tp/greatdepression.htm
The Great Depression
Pre-Depression Economy Summary
• rite a journal entry describing a weakness in your chosen character's sector of the economy that would later contribute to the Great Depression.
• rite a summary of the weaknesses in the American economy that contributed to the Great Depression.
The Great Depression was one events of the twentieth century that defined the entire century. It was the longest lasting and most widespread financial crisis in the history of the country. However, it also spread globally and many economies were all involved in varying amounts depending on their trade arrangements with the U.S. The atmosphere in the U.S. was filled with desperation and pretty much any political leaders who had a seemingly reasonable idea gained popularity quickly as people demanded action.
In the United States the economy went from virtually booming to bust in a relatively short time frame. Although the unemployment…
History. (N.d.). New Deal. Retrieved from History: http://www.history.com/topics/new-deal
Rampell, C. (2010, January 28). Unemployment Today vs. The Great Depression. Retrieved from The New York Times: http://economix.blogs.nytimes.com/2010/01/28/unemployment-today-vs.-the-great-depression/
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 are to be left alone, with the belief that the market can always correct itself if given enough time. Sensing that the world economy could take years to recover on its own, economists such as John Maynard Keynes of Britain advocated the creation of government backing for bank deposits, which gave citizens the peace of mind of knowing their money would be backed by the government in case of another banking disaster like we saw in the 1930s. (B News…
Concerning whether a downturn in U.S. economic growth affects Canadian economic growth, there is indeed a direct correlation. Due to the closeness of the two economies, and the mammoth size of the U.S. Economy in general, there is no way that any disruption in one country would not be felt in the other. Over the past twenty years, globalization, NAFTA, and an increase in technological capability has only brought both countries financial mechanisms closer. In fact, Canadians are at great risk when the behavior of Wall Street becomes reckless. It is risky behavior, such as that exhibited during the subprime lending crisis, that most affects international financial institutions.[footnoteRef:3] (Somerville 2010) The health of the U.S. economy is vital to the success of Canada's economy, and therefore caution must be placed whenever either country predicts a downturn in the imminent future. [3: Somerville, Glenn. Reuters. January 31, 2010. http://www.reuters.com/article/2010/01/31/us-usa-economy-bailout-idUSTRE60U09L20100131 .]
However Canada does have its own ability to handle government spending however it likes. For instance, providing a single payer health care system greatly simplifies the health care process and costs, and ensures that even during an economic downturn, citizens are able to seek the medical treatment they are entitled to. This is a service provided by the government even during hard times, a social responsibility which is lacking in the American public conscience. This is in stark contrast to the United States, which opts to spend heavily on military and defense, while relying entirely on the private sector to provide health insurance for Americans. Among other differences between the nations, the way labor is exported from America to China and other low income nations is not nearly as extreme in Canada. Additionally, Canada's property market was not as heavily affected as in the States, due to better market regulation and less of a reliance on sub-prime loans. [footnoteRef:4] [4: CBC News. Replay of Great Depression Unlikely. September 25, 2008. http://www.cbc.ca/news/business/story/2008/09/25/td-forecast.html .]
In conclusion, we see that the Great Depression has taught all world governments how to evade calamity, but the extent to which government involvement in the market should be permitted is still in heavy contention. The pro-business low tax business class sees Keynes as a man who simply redistributes wealth via tax collection and government spending, meanwhile the middle class typically benefits from the benefits government offers in its ability to stabilize the market and prevent prolonged periods of slow growth and unemployment, periods which are inherent in the instability of the free market.
Depression V ecession
The Great ecession of 2009, which in economic terms lasted two quarters but for many people stretched out quite a bit longer, was billed as the worst economic event since the Great Depression. This provides us with an opportunity to examine the two events, their respective time periods, and what sort of similarities and differences we can determined between them.
The 1920s were known as the roaring twenties, and were considered a boom time. The period after the First World War saw significant shifts in American life, in terms of standard of living and how people lived. The 20s saw a significant shift towards urbanization, fueled by job opportunities that were emerging in white collar sectors. The term urban is juxtaposed against rural -- in many cases these areas were what we would consider small country towns. But the shift away from the farm was a profound…
Berger, I. (2013). The continuing, transformative impact of IT. Wall Street Journal. Retrieved December 6, 2014 from http://blogs.wsj.com/cio/2013/06/14/the-continuing-transformative-impact-of-it/
Escow, R. (2014). 7 facts that show the American Dream is dead. Salon. Retrieved December 6, 2014 from http://www.salon.com/2014/10/25/7_facts_that_show_the_american_dream_is_dead_part
Investopedia (2014). Definition of laissez-faire. Investopedia. Retrieved December 6, 2014 from http://www.investopedia.com/terms/l/laissezfaire.asp
The middle one, Stevie, he's usually hiding in his room but every now and then, he'd hug me like he knew I needed it. Times aren't the greatest for my friends either. They all have family and are looking for jobs, too. Remember our neighbors, the Moribitos? They've got six kids and Domenic, the husband, is out of work, too while his wife is running after their wee little ones. I think despite all the problems, the neighborhood here in New York City seems cohesive like we're all one big family facing the same dilemma. In the end, all we need is love right, and as long as our families got each other; money doesn't make the world go round! It's what I tell Eileen and myself but I don't think she's buying much of it anymore. We have nothing to our name but these ragged clothes on our backs…
Weak governmental intervention and stubborn responses by overzealous investors led to the stock market crash in October of 1929. Non-existent money artificially inflated the prices of stocks traded on the market and caused firms to produce more than they could sell. When reality hit, it was too late to prevent the market from crashing.
President Hoover reacted by stimulating construction and public works projects. Urging firms to keep wages steady and relatively high, he cut taxes and increased allocations for public spending. Hoover was initially praised for his approach and for his awareness of ancillary factors causing the recession including his blaming rampant stock speculation. His reputation fell when he passed the Smoot-Hawley Tariff. Moreover, his pro-development policies did not help circulate the surplus goods. Oversupply and under-demand were still core problems that needed to be addressed. Worker wages remained too low to stimulate consumer spending. In the absence of…
America's Great Depression." Retrieved Oct 25, 2006 at http://www.amatecon.com/gd/gdcandc.html
Gupta, P. & Lee, J. (1996). "The Great Depression and the New Deal." Retrieved Oct 24, 2006 at http://www.bergen.org/AAST/Projects/depression/
Gusmorino, P.A. (1996). "Main Causes of the Great Depression." Retrieved Oct 25, 2006 at http://www.gusmorino.com/pag3/greatdepression/
The Herbert Hoover Presidential Library and Museum." Retrieved Oct 24, 2006 at http://hoover.archives.gov/exhibits/Hooverstory/gallery06/gallery06.html
These two factors would cause the economy to experience a sudden erosion of economic stability. At which point, a new Administration would begin: massive spending and enacting various regulations to address the causes of the Great Depression. This would help to provide stability to: the economy and it created a foundation for placing some kind of support in the different economic structures (i.e. banks / the stock market). What all of this shows, is that the lack of taking any kind of action from the federal government would make the situation worse. As it would cause the depression to begin and have devastating effects. Then, when they finally decided to do something about it, the policies would essentially negate each other. What put an end to the Great Depression was: the massive amounts of government spending on social programs and new regulations to address the underlying causes.
Causes of the…
Baru, S. (2009). The Global Economic Crisis and U.S. Power. Economic Meltdown. (pp. 3 -- 38). Seattle, WA: National Bureau of Asian Research.
Bonnick, K. (2010). Securitization. Why to Big to Fail. (pp. 61 -- 68). New York, NY: Author House.
Edsforth, R. (2000). A New Deal in 100 Days. The New Deal. (pp. 121 -- 149). Malden, MA: Blackwell Publishing
Flynn, K. (2008). Federal Deposit Insurance. New Deal. (pp. 142-147). Layton, UT: Gibbs Smith.
The excessive use of margin had encouraged speculation. Poor governance on the part of banks and brokerages allowed for a market failure where investors were not making rational decisions, resulting in a bubble.
A variety of new taxes were created to offset Roosevelt's social programs. The American psyche had been scarred by the abject poverty of such a wide proportion of the population. There was palpable fear and desperation. This resulted in the creation of a social safety net and massive infrastructure investment. To pay for this, payroll taxes were developed and this was followed by more taxes to pay down. ithholding taxes and broader income taxes also came out of this era.
The gold standard was abandoned as a result of the Great Depression. The rigidity of the standard was considered to be an impediment to recovery. The coming of orld ar Two resulted in the postponement of monetary…
No author. (1929). Wall Street Hums on the Day of Rest to Catch up at Work. New York Times. Retrieved April 23, 2009 from http://www.nytimes.com/library/financial/102829crash-sunday.html
No author. (1929). Stocks Collapse in 16,410,030 Share Day, but Rally at Close Cheers Brokers; Bankers Optimistic, to Continue Aid. New York Times. Retrieved April 23, 2009 from http://www.nytimes.com/library/financial/103029crash-lede.html
Salesman, Richard M. (2004) "The Cause and Consequences of the Great Depression, Part 1: What Made the Roaring '20s Roar" The Intellectual Activist .
Carter, Susan. (2006). Historical Statistics of the U.S.: Millenial Edition. Retrieved April 23, 2009 from http://www.hyperhistory.com/online_n2/connections_n2/depression9.html
Great Depression was an immense tragedy for Americans. It was the beginning of involvement of government in the economy. After a decade of prosperity and optimism, the United States of America was thrown in despair on October 1929. The whole stock market got crashed and the Great Depression began officially. That day is known as Black Tuesday. There was no hope of the recovery of stock prices. Masses of Americans tried to sell all the stock but there was no buyer. At that time, the stock market became the path of bankruptcy. After the crash of stock market, the banks had to close forcefully as they had invested the savings of their clients in the stock market. This caused a lot of panic and people rushed to the opened banks for withdrawing their money.
The Great Depression caused the unemployment to reach 25% and the wages of employed people fell…
Dickstein, Morris. Dancing in the Dark: A cultural History of the Great Depression. New York: W.W. Norton and Company, 2009. Print.
McElvaine, Robert S. The Great Depression: America 1929-1941. New York: Times Books, 1984. Print.
"Wall Street Crash of 1929 and it's after math." Historylearningsite.co.uk. Web. 1 April 2012.
Great Depression New Deal Voices Protest
In this essay, the author will discuss the importance of Huey Long and Father Coughlin in shaping the course of the New Deal. Since rinkley also mentions Charles Townsend's social security ideas, it will also be necessary to consider them as well. It is the author's position that Alan rinkley is largely correct that these individuals forced the president Franklin Delano Roosevelt to move left in 1935. Evidence will be presented to support this position. The urbane, pragmatic president looked with fear upon the above extremist figures and found it necessary to craft a third way between the extremes and a leftward drift was necessary to achieve this.
While this essay comprises principally a comparison of rinkley and Rauchway, it is necessary to consider Long's writings themselves and the impact that they had upon the American political landscape. In 1934 Huey Long created "Share…
Amenta, Edwin, Dunleavy, Kathleen and Mary Bernstein. "Stolen Thunder? Huey
Long's 'Share Our Wealth', Political Mediation. 59. (1994), 678-702,
http://www.jstor.org/pss/2096443 . (accessed May 31, 2011).
Beekman, Scott. William Dudley Pelley: A Life in Right-Wing Extremism And the Occult .
In essence, there was rapid expansion of the United States stock market in the 1920s. This expansion was founded on credit. In late 1920s, wild speculation reached its peak, and the price of stocks went too far from their intrinsic value. This led to the 1929 Stock Market Crash. The 1930s ushered a period of the stock market contraction as a consequence of the Great Depression.
The United States did not have its factories destroyed during WW1, unlike was the case in some European countries. It is important to note that through necessity, there was significant increase in production as well as manufacturing during the war. For this reason, and several others, the United States emerged from the WW1 stronger, with a booming economy and as an industrial leader.
With most people having zero experience in the purchase of securities, Liberty Bonds, “Investing Culture”,…
[FullyFundedTrader]. (2013, Jan 30). 1929 The Great Crash. – A Video about the Stock Market Crash in 1929 [Video File]. Retrieved from https://youtu.be/POMhTJqw1d4
Great Depression has had a significant effect on society as a whole and it has also provided inspiration for creative minds who acknowledged the suffering that it generated. Many American writers saw the events accompanying the economic crisis from a firsthand perspective and their artistic personalities thus came to shape their perception of these respective happenings. Literature actually provided a way out for individuals who suffered financial deficit, as they could escape society's problems into the pages of a book that could provide them with a whole new point-of-view regarding the depression and concerning their personal identity.
One of the principal negative consequences triggered by the Great Depression was the fact that the American Dream was no longer attainable in an environment dominated by poverty. American writers got actively engaged in writing in regard to the crisis and did not hesitate to paint a true portrayal of conditions in the…
Andrews, William L., Smith Foster, Frances, and Harris, Trudier, "The Concise Oxford Companion to African-American Literature," ( Oxford University Press, 2001)
Burt, Daniel, S. "The Chronology of American Literature: America's Literary Achievements from the Colonial Era to Modern Times," (Houghton Mifflin Harcourt, 2004)
Solomon, William, "Literature, Amusement, and Technology in the Great Depression," (Cambridge University Press, 2002)
Yannella, Philip, R., "American Literature in Context After 1929," (John Wiley & Sons, 2010)
Second, margin accounts are now regulated. There are margin call limits nowadays which prevent individuals and institutions from assuming too much risk in the stock market. Banks also limit margin borrowing. A person has to fill out a special application in order to open a margin account and demonstrate knowledge of stock trading before such an account is opened. Thirdly, banks that are big are not permitted to go out of business like they were in the Great Depression. During the Great Depression, when financial institutions failed they had a ripple effect on all facets of the economy from farming to automobile production. During the current recession, federal government action saved most of the biggest banks from collapse by supporting them up with emergency financing. Lastly, the stock market is not allowed to plummet too much in a given period of time. Trading halts or breaks are imposed in times…
Krugman, Paul (2009). The Return of Depression Economics and the Crisis of 2008 W.W. Norton & Company.
Fabozzi, Frank J. (1992). The Handbook of Mortgage-Back Securities 3rd Edition. Probus Publishing Company. P. 483-511.
Eichengreen, B.J., & O'Rourke K.H. (2009). A Tale of Two Depressions.
Great Depression -- Randall E. Parker
Albert Hart: Albert Hart's interview in this book opens with a description of his influence on the American economic machinery (72): his highly influential book, Debts and Recovery 1929 to 1937 " ... painstakingly documented and analyzed changes in the structure of the internal debts" of every detail of the U.S. economy, according to the book's author, Randall Parker. The interview also began with some humor. Hart, who died a month after the interview took place in 1997, related a story about his father, who was born in 1851, and thought he had earned a $400 fellowship from Dearborn Theological Seminary, which was supposedly going to pay all his school costs and living expenses. The catch to the money, Hart related, was that after his father was told he would get it, his father still had to "swear that he believed unbaptized infants were…
Parker, Randall E. (2002). Reflections on the Great Depression. Cheltenham, UK: Edward Elgar.
Great Depression and the New Deal
Brinkley, lan the Unfinished Nation: Concise History of the merican People. 4th Edition. New York: McGraw-Hill 2004.
There is almost something comical about the level of the outrage expressed by contemporary Democrats regarding the appointment of John Roberts, President Bush's nominee to the Supreme Court to replace Supreme Court Justice Sandra Day O'Connor. While not to mitigate the importance of the Supreme Court as enforcing the law of the land, the fact that John Roberts might -- gasp -- interpret the constitution with a more strict constructionalist viewpoint than his moderate predecessor seems far less hubristic in comparison to President Roosevelt's efforts to stuff the U.S. Supreme Court with new numbers of justices. Roosevelt openly wished to increase the number of justices specified in the Constitution for the highest court of the land to make it easier for him to enforce his…
Americans responded with hope and optimism to the first coherent plan to elevate the American nation out of the depression. Even today, the durability of Roosevelt's attempt to construct the foundations of the federal social welfare system and for the federal government to take responsibility for helping to elevate the quality of life of ordinary American people shows his greatness as a president.
8.Explain the evolution of American diplomacy toward Japan between 1921 and 1941. Was war between the U.S. And Japan inevitable? If so why and if not how might it have been avoided?
While not inevitable, war between the U.S. And Japan seemed unavoidable after Japan so securely allied itself with Germany, causing American diplomacy to become increasingly hostile after an initially sympathetic period after the end of the first World War -- had America become part of the League of Nations, perhaps, and mitigated some of Japan's regional, territorial, and economic concerns, only then could the Japan and Nazi union been avoided.
Many Americans became jobless and homeless, even setting up shantytowns.
) the Hoover administration did little in response to the growing crisis. The administration remained committed to balancing the budget, and refused to run a deficit in order to stimulate the economy. He felt the use of volunteerism was the path to success. He did try a couple of things, with the Agricultural Marketing Act and the Emergency Relief and Construction Act. The Federal Reserve did not act to loosen the money supply.
4) I believe there could be another Great Depression. Many of the root causes have been seen at different points in the past several years. In the earlier part of this decade we saw the dot-com bubble, and we also saw a decline in confidence in the markets following scandals like Enron. The present oil crisis is raising prices and pressuring the economy to a degree that…
3) the Hoover administration did little in response to the growing crisis. The administration remained committed to balancing the budget, and refused to run a deficit in order to stimulate the economy. He felt the use of volunteerism was the path to success. He did try a couple of things, with the Agricultural Marketing Act and the Emergency Relief and Construction Act. The Federal Reserve did not act to loosen the money supply.
4) I believe there could be another Great Depression. Many of the root causes have been seen at different points in the past several years. In the earlier part of this decade we saw the dot-com bubble, and we also saw a decline in confidence in the markets following scandals like Enron. The present oil crisis is raising prices and pressuring the economy to a degree that is similar to the effects of Smooth-Hawley. Should all of these factors come together at one time, during a period of poor fiscal management, we could see another Great Depression.
Faragher, John Mack et al. Out of Many: a History of the American People. 5th ed. Vol. 2: (Since 1865. Upper Saddle River NJ: Pearson/Prentice Hall, 2006)(Chapters 21-24).
Prices would fall and farmers lose money when their techniques are more efficient because in that scenario there would be a surplus of agricultural products on the market that automatically causes a drop of prices. Where crops are rare, there is under surplus and prices will eventually rise. Where there is a fall of agricultural prices and a slump in industrial orders, industrialized nations and those supplying primary products (food and raw materials) are all affected in one way or another (About the Great Depression 2). Great Britain (Economic Handout Point 8b): Britain fortunes improved after leaving the gold standard. Under the Gold Standard, which linked currencies to the value of gold, governments were committed to maintaining fixed exchange rates. The British economy stopped declining soon after Britain's abandonment of the gold standard in September 1931, though genuine recovery did not begin until the end of 1932 (omer 2). Great…
About the Great Depression. 1-6. Accessed 17 October 2011.
Cached - Similar
American President: Herbert Clark Hoover. A Reference Resource. 1-4. 2011.
Accessed 17 October 2011.
Great Depression of the 1930s and the current status of the United States.
Great depression of the 1930's and current economic status of the U.S.
The research paper compares and contrasts the great depression of the 1930's and the current economic status of the United State of America.
It first of all makes a general overview of each of these two different periods and then focuses on certain specific aspects during these different times which include the causes to the economic recessions witnessed, impacts of the economic recessions and the solutions that were introduced so as to bring the economy to a recovery level or phase and lastly the research paper will conclude the topic.
Great Depression of 1930's
When talking about any topic regarding the American history it would be hard not to mention the 1930's great depression, this is evident by the fact that various authors in those…
Embrechts, Donnelly. The devil is in the tails: actuarial mathematics and the subprime mortgage crisis, (1) pp 1-33, (2010).
Gusmorino, Paul. "Main Causes of the Great Depression. Web page" . 9th November, 2010.
Mitchell, Broadus. Depression Decade: From New Era through New Deal, 1929-1941, pp 462, 1947.
Taylor, David. Soul of a People: The WPA Writers' Project Uncovers Depression America. Hoboken, N.J.: Wiley & Sons, pp 21-54, 2009.
Industrial workers were probably less affected by the depression than African-Americans or the elderly (Temin, 27). 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…
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.
The Great Depression is said by economists to be the worst economic downturn to ever occur in the Western World. It started in 1929 and lasted for 10 straight years. The economic depression was triggered by a stock market crash in the October of 1929. The stock market crash sent shockwaves through Wall Street resulting in investors losing millions of dollars. After the stock market crash, investment and consumer spending naturally dropped in the following months and years. This had a negative effect on manufacturing and employment resulting in millions of Americans being laid off. At its lowest point, the economic depression had forced approximately 15 million to lose their jobs. Moreover, nearly 50 percent of the America’s banks collapsed during the Great Depression. This paper discusses the great depression, its causes, the negative effects it had, and the recovery.
What caused the Great Depression?
From the turn of…
Eichengreen, Barry, and Peter Temin. \\\\"The gold standard and the great depression.\\\\" Contemporary European History 9.2 (2000): 183-207. Web.
Elder, Glen H. Children of the great depression. Routledge, 2018. Web.
Hobsbawm, Eric. \\\\"The age of extremes: A history of the world.\\\\" New York: Pantheon (1994). Web.
Kyvig, David E., and David E. Kyvig. Daily life in the United States, 1920-1940: how Americans lived through the\\\\" Roaring Twenties\\\\" and the Great Depression. Chicago: Ivan R. Dee, 2004. Web.
Romer, Christina D. \\\\"The great crash and the onset of the great depression.\\\\" The Quarterly Journal of Economics 105.3 (1990): 597-624. Web.
Simpson, Brian P. \\\\"The Great Depression.\\\\" Money, Banking, and the Business Cycle. Palgrave Macmillan, New York, 2014. 187-219. Web.
Watkins, Tom H. The great depression: America in the 1930s. Boston, MA: Little, Brown, 1993. Web.
Lessons From the Great Depression
he great depression in the U.S.A. was occasioned by the crash in the stock market in October 1929 and led to great panic at the wall street, wiping out millions of investors, the consumer spending drastically dropped and hence drop in investments hence by 1933 around 15 million Americans were rendered jobless and close to half the banks in the nation closed. More citizens withdrew their money from the banks with fears that the banks could go under despite the repeated assurance by President Roosevelt that it was safe to keep their money in the banks than to keep it under the mattress. It is a period that left people with no options to satisfy their basic needs, yet on the flip side, it presented people with positive lessons and skills to adopt in order to survive through the tough economic times (Browder, Laura
The effects of the depression were far reaching, however, there was a section of population that had an easier time as compared to other Americans. The Dakota population was a special exemption during the depression. McNicol Stock & Catherine, (1992)
note that apart from the crash at the stock market, the depression was further exacerbated by the bad weather that mutilated the agricultural sector just as the economic downturn took its worst turn. The people of Dakota however had a lucky spell of rainfall that meant they had a better harvest than the rest of the country. With this advantage over the rest of the U.S.A., Dakota combined it with the other skills and forged ahead with their economy as the rest of the country remained behind. It was a case of luck and skills combined for Dakota in the lessening of the effects of the drought, a lesson that the nation can learn on how to strengthen the parts of the economy that ach state has for the good of the entire U.S..
The great depression had various lessons as noted above for the current U.S. society in terms
Great Depression and the New Deal
The Great Depression
The Great Depression was caused by the stock market crash of 1929. The 1920s had been a roaring good time for Americans: credit was easy and investments were going up. In the 1920s, it was known as the Installment Plan -- and "enjoy while you pay" was a popular expression used to lure buyers into the market who could not otherwise afford to be consumers. Credit was used for everything -- including stock. However, when credit expands in the form of shoddy loans, a credit bubble is created. The bubble, in this case, popped in 1929 when the market realized no more credit was going to be pumped in as a result of too many loans to undeserving customers were being made (i.e., customers who could not pay them back). With the market correction came the margin calls and accounts had…
Brinkley, Alan. Voices of Protest: Huey Long, Father Coughlin, and The Great
Depression. NY: Vintage, 1983.
Butler, Smedley. War is a Racket. LA: Feral House, 2003.
Jeansonne, Glen. Transformation and Reaction America 1921-1945. IL: Waveland
lacks and the Great Depression
The Great Depression, which had significant impacts across America, had a lesser impact on lack America. The greater is the loss, the greater the impact. Vice versa, the lesser is the loss, the lesser the impact. Historically, lack Americans had relatively less to lose in a Great Depression. Consequently, lacks, already disenfranchised from American society, were less affected in the Great Depression than White Americans.
Understanding the Great Depression means, in part, that its effects on Americans cannot be painted with one brush stroke because the Great Depression had different effects on different groups of people. Certainly, the Great Depression had devastating effects on many Americans. As excerpts from two of the more than fifteen million letters written directly to President and Mrs. Roosevelt show, some Americans desperately needed coats[footnoteRef:1], rent, transportation, food and utilities[footnoteRef:2] but were unable to obtain financial relief from government programs.[footnoteRef:3]…
Greenberg, Cheryl Lynn. "Or Does it Explode?": Black Harlem in the Great Depression. New York, NY: Oxford University Press, Inc., 1991.
McElvaine, Robert S. "Letters to the Roosevelts During the Depression." In America: A Narrative History, 8th Edition, by George Brown Tindall and David E. Shi, 221-222. New York, NY W.W. Norton & Company, Inc., 2009.
Shlaes, Amity. The Forgotten Man: A New History of the Great Depression. New York, NY: HarperCollins, 2008.
Turkel, Studs. "Two Views of the Great Depression (1932)." In America: A Narrative History, 8th Edition, by George Brown Tindall and David E. Shi, 214-216. New York, NY W.W. Norton & Company, Inc., 2009.
Great Depression or hat Reagan Doesn't Know about the 1920s" analyzes the economic and social conditions of the 1920s from a "Marxist underconsumptionist" stance and criticizes the foundations of a capitalist, free market economy. The prevailing view of the causes of the Great Depression centers on monetarism and thus oversimplifies the actual and complex causes of the Depression Monetarism focuses on the role of government fiscal controls such as the Federal Reserve and posits that the presence of key masterminds could have helped avert the crisis. However, Stricker finds that monetarism fails to address the entire gamut of social and economic conditions that led to the Depression.
Rather, a number of interrelated social, economic, and political issues, all of which hinge on a capitalist state, directly impacted the Great Depression. Moreover, the causes of the Great Depression cannot be viewed without considering the general economic conditions of the 1920s. The…
Striker, Frank. "Causes of the Great Depression, or What Reagan Doesn't Know About the 1920s."
The Great Depression
The Great Depression started in 1929 and lasted until the end of the Second World War, it was the most severe depression seen in the western world. The depression had far reaching economic, social, and political consequences. To understand the depression it is necessary to look at the event itself, underlying causes, the impacts and the way in which recovery took place.
The Great Depression may be argued as starting in August of 1929, when the countries GDP started to decline; but it is the cash of October 1929 that marks the official beginning of the crisis (obbins & Weidenbaum, 2009). The stock market crash of 1929 was a surprise for many; the previous decade had been one of growth and prosperity. On Black Tuesday 29th of October the bottom dropped out of the stock market, which resulted in panic selling loosing 40% of the paper…
Bernanke, BS, (1983), Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression, The American Economic Review, 73(3), 257-276
Cecchetti, G, (1992). Sources of Output Fluctuations During the Interwar Period: Further Evidence on the Causes of the Great Depression, Working Paper No. 4049, National Bureau of Economic Research
Robbins, Lionel; Weidenbaum, Murray, (2009), The Great Depression, Transaction Publishers
The downward spiral of deflation, the collapse of countless banks and other financial institutions, and the unprecedented levels of unemployment all demanded that something be done.
The programs that constituted President Franklin Delano Roosevelt's New Deal were not entirely unknown in the pre-Depression world. Various European countries already possessed social welfare schemes to some extent, but in the United States this was largely new thinking. The changes wrought by the New Deal reflected as much the uniqueness of conditions during the Great Depression as they did the undercurrent of new attitudes and ideas that had gradually been taking hold among America's intellectuals.
FDR's planners acted in the context of changing values, an evolving set of institutions, shifting political and economic circumstances, and the ebb and flow of planning opportunities to create a distinctly national, American form of planning.... They were part of a wide-ranging national debate over how to create…
DUMMY CITATION #1 G.M., Blaauw, G.A., and Brooks, Jr., F.P. "Architecture of the IBM System/360," IBM Journal of Research and Development, Vol. 44, No. 1/2, IBM, January/March 2000 [Reprint of IBM Journal of Research and Development, Vol. 8, No. 2, 1964.]
DUMMY CITATION #2 Anderson, Philip, and Michael L. Tushman. "Technological Discontinuities and Dominant Designs: A Cyclical Model of Technological Change." Administrative Science Quarterly 35.4 (1990): 604fl.
Gibbons, Jim. "Gibbons Tells Congressional Committee to Abolish Arbitrary FAA Retirement Age: Nevadan Calls Current Federal Rule, 'Blatant Age Discrimination.'" Press Release, (United States Congress, Washington D.C., 12 March, 2003).
Wilkening, Robin. "The Age 60 Rule: Age Discrimination in Civil Aviation." (No Date). URL: http://aeromedical.org/Articles/age60.html.
With a decreasing demand, the economy could no longer produce to the same levels, pressured by price deflation as well, so the spiral continued to tail the economy downwards.
The New Deal measures produced the exact reverse effects. In this sense, stimulating the economy with new governmental programs and increased governmental spending meant that new jobs were created and that the economy gradually resumed its growth.
1. Causes of the Great Depression. 2001-2006. On the Internet at http://www.learninghaven.com/articles/causes_of_the_great_depression.html.Last retrieved on October 13, 2006
2. en S. ernanke. August 1994. The Macroeconomics of the Great Depression: a Comparative Approach. Working Paper No. 4814. National ureau of Economic Research. Page 23.
3. Rothbard, Murray N. 1969. Economic Depressions: Their Cause and Cure. The Austrian Theory of the Trade Cycle compiled by Richard M. Ebeling. On the Internet at http://www.mises.org/tradcycl/econdepr.asp.Last retrieved on October 13, 2006
4. Keynesian Model. 2000-2006. On the Internet…
1. Causes of the Great Depression. 2001-2006. On the Internet at http://www.learninghaven.com/articles/causes_of_the_great_depression.html.Last retrieved on October 13, 2006
2. Ben S. Bernanke. August 1994. The Macroeconomics of the Great Depression: a Comparative Approach. Working Paper No. 4814. National Bureau of Economic Research. Page 23.
3. Rothbard, Murray N. 1969. Economic Depressions: Their Cause and Cure. The Austrian Theory of the Trade Cycle compiled by Richard M. Ebeling. On the Internet at http://www.mises.org/tradcycl/econdepr.asp.Last retrieved on October 13, 2006
4. Keynesian Model. 2000-2006. On the Internet at http://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=Keynesian+model.Last retrieved on October 13, 2006
Similarly, FD initiated the Securities and Exchange Commission. FD served four terms and would be the last president to serve more than two terms in office.
The New Deal was built upon oosevelt's belief in the power of the federal government to alleviate the financial woes of the nation. Although unpopular to some, many of the New Deal programs proved to be promising in both the short- and the long-term. Opponents of the New Deal generally disagree with the theory of big government; the New Deal epitomizes big government but in the wake of the Depression only such broad programs could have taken root and alleviated the suffering of so many Americans. The New Deal definitely contributed to the American economy's revival but the Second World War would help, too.
One of the reasons for the Great Depression, according to oosevelt and his supporters, was the proliferation of big business,…
Lessons from the Great Depression, William Watson is comparing the current recession with the time frame between 1939 and 1940. This is when ritain and France had declared war on Germany after its invasion of Poland. However, no real hostilities took place between the two until Germany invaded France in May 1940. The time when there was little conflict that was occurring, fooled many people into thinking that the war and the subsequent events would not be as bad as feared. Once this occurred, it caused the public to have a sense of complacency about these events and the impact that they would have on the lives of ordinary people. (Watson, 2009, pp. 41 -- 44)
According to Watson, a similar situation is occurring with the recent financial crisis that has taken place. This was sparked initially by doomsday predictions that many in news media were making about: the bailouts…
Watson, W. (2008). Lessons from the Great Depression. Policy Options, 41 -- 44.
Although there are few Americans alive today who actually lived through the Great Depression, the event exacted an enormous toll on the country's and ultimately the world's economy in unprecedented ways, and some contemporaries questioned whether recovery was ever possible. To determine the facts, this paper reviews the literature concerning the Great Depression to identify is causes, including the financial, ecological and speculative reasons for the crash of the American economy. Finally, a discussion concerning the gradual recovery that spelled the end of the Great Depression is followed by a summary of the research and important findings concerning this seminal event in American history in the conclusion.
eview and Discussion
Although precise figures remain elusive, historians estimates that at least one-quarter and perhaps even more of the American workforce was unemployed during the period following the stock market crash in October 1929 through 1932, and 9,000 banks failed…
Byas, S. (2016, December 5). The Great Depression: Why it started, continued, and ended. The New American, 32(23), 33-37.
Joseph, L. C. (2003, November-December). Legacy of the Dust Bowl. Multimedia Schools, 10(6), 36-39.
Salamon, H. & Ebrahimi, M. (2014, October). The functions of speculation in economy: An investigation on the New York Stock Exchange Crash (1929-39). Asian Social Science, 10(19), 129-133.
World War I and the Great Depression
World War I
The assassination of Archduke Franz Ferdinand on 28 June 1914 sparked the occurrence of the First World War. A Serbian nationalist called Gavrilo Princip murdered him as the heir apparent to the throne of Austria. However, other underlying factors that contributed to the rivalry between the Great Powers include the system of alliances, nationalism, domestic political factors, militarism, the Eastern question (The Balkans), and the crises before 1914. The main powers of Europe before 1914 were: (i) the Triple Alliance of Germany, Austria-Hungary and Italy (1882) and (ii) the Triple Entente of Britain, ussia and France (1907). In nature, the alliances were defensive, and this implied that major political disputes inevitably would lead to large and not small conflicts. Nationalism looked at eager people across the world who wanted to let the rest of the world know how strong and…
Giangreco, D. M. & Griffin, R. E. (1988). Airbridge to Berlin -- The Berlin Crisis of 1948, Its Origins and Aftermath. Background on Conflict with USSR.
Hiebert, Ray, and Roselyn Hiebert. (1970). The Stock Market Crash, 1929. New York, NY: Franklin Watts.
McElvaine, R. S. (1993). The Great Depression: America, 1929-1941. New York, NY: Times Books.
Parrish, M. E. (1992). Anxious Decades: America in Prosperity and Depression, 1920-1941. New York, NY: W.W. Norton.
New Deal and Programs to Cure the Great Depression
Back in the 1930s, the Americans experienced the worst financial crisis that has ever occurred in the United States' history. In attempts to get back from this particular disaster, the New Deal- a chain of laws and programs, meant to provide assistance to the Americans- was established by Franklin D. Roosevelt. However, an argument has always existed regarding the usefulness of the policies of the New Deal. Robert haples published his results to the prolonged Great Depression in his article "here Is the Consensus among American Economic Historians?" back in 1995. The findings of a research on Forty Propositions states: it is quite exciting to view where the division falls in this argument, given that the difference in reactions clearly exists amidst historians and economists.
In his article, "An Overview of the Great Depression," he offers an introduction to the circumstances…
Eggertsson, Gauti. "Great Expectations and the End of the Depression." American Economic Review. 98. (2008): 1476-1516.
Kirkwood, John. "The Great Depression: A Structural Analysis." Journal of Money, Credit and Banking. 4. (1972): 811-837.
Parker, Randall, ed. Economic History Association. Tuscan: 2010. s.v. "An Overview of the Great Depression." http://www.eh.net/eha/contact-us (accessed February 10, 2013).
One of the primary proximate causes of the Great Depression was the stock market crash of 1929, but even the market crash was the culmination of years of speculative banking and investments leading to the economic downturn. For example, also during this time, American banks—as well as some foreign ones—actually capitulated, causing many people to lose their savings and many businesses to lose their access to financing as well. Responding to initial fears of a financial crisis, several policy initiatives exacerbated the situation. For example, when banks reduced or curtained entirely the number and value of loans offered to Americans, there was less of an opportunity to re-invest in business or housing infrastructure.
Another policy problem was protectionist tariffs on foreign goods, which stifled foreign trade, which also contributed to the Great Depression. For instance in 1930, the American government passed the Smoot-Hawley Tariff, which was intended to…
orld ar I upon the Great Depression on the federal role of American government
After the advent of the Great Depression and the presidency of Franklin Roosevelt, America shifted in its national emphasis from being an economically decentralized nation, with a capitalistic and 'hands off' attitude to the development of industry, to a more truly modern nation that took an active role in the lives and well being of its citizens. The American federal government also began to seek to exercise its moral influence upon the rest of the world. However, this shift from American isolationism towards those in need within America, as well as the needs of individuals abroad, did not come with some national soul-searching. The historian illiam E. Leuchtenburg writes in his text The Perils of Prosperity: 1914-32 that the economic advancement of the post orld ar I era, and America's less economically damaging late involvement in…
Gould, Lewis. America in the Progressive Era. New York Longman, 2000.
Leuchtenburg, William E. The Perils of Prosperity, 1914-32. Chicago: University of Chicago Press, 1958.
Religion for the Blues: Evangelicalism, Poor Whites, and the Great Depression
White evangelical religion is often conceptualized as a solely conservative force inhibiting social change. The purpose of the article “Religion for the Blues: Evangelicalism, Poor Whites, and the Great Depression” by Wayne Flynt is to contextualize the type of religious faith that sustained many poor whites during difficult economic circumstances in the early half of the 20th century in America. Rather than a source of repression, Flynt argues the religion provided a sense of purpose and a way of making sense of senseless circumstances.
Flynt is interested in giving voice to his subjects on an individual basis to humanize them and present their unique perspectives. He begins his article not with a theoretical overview but with a description of May Jordan, a congregant at the Buck Hill Baptist Church, the daughter of a faith doctor. Jordan left…
Herbert Hoover and the Great Depression
In recent years, a debate has arisen regarding the extent of Herbert Hoover's progressive and Keynesian leanings, with conservative historians suggesting that Hoover may have been less of an advocate for laissez -faire capitalism than was commonly believed during his lifetime. Ideologues such as Amity Shlaes and Murray Rothbard have suggested that Hoover was a closet statist and New Dealer, and that ranklin Roosevelt simply continued many of these policies in a natural progression. On the other hand, liberal and mainstream historians have generally accepted the idea that Hoover was perhaps a more activist president than his earlier reputation may have indicated, but disagree with conservative historians as to the extent of Hoover's progressive inclinations. They argue that Hoover's retreat from laissez-faire policies was too little, too late, and ultimately inadequate to deal with the severity of the economic crisis, a position in direct…
From the start, Hoover urged industry not to lay off workers and maintain their 1929 levels of employment, although this eventually proved impossible as the economy continued its downward spiral. At first, Hoover remained an orthodox proponent of balanced budgets and the gold standards, unlike FDR, who abandoned gold in 1934. His Federal Reserve was also slow to respond to the crash and actually seemed to be determined to control inflation by raising interest rates, although this led to a severe contraction of the money supply, which fell by one-third in 1931 alone. As prices and credit continued to collapse, wages fell over 50% in 1928-32, while agricultural prices sunk below the cost of production by 1933.
(This last detail must have been especially galling to Hoover, considering his time spent as Commerce Secretary and his previous belief that government intervention in the agricultural industry was beyond the pale.)
Hoover was known as a humanitarian and compassionate man, and both traits were attributed to his Quaker background. In private he would literally end up crying at his desk in the White House after reading desperate letters from hungry and unemployed citizens. Furthermore, he lamented the fact that the shantytowns that grew up around all major cities during the Depression were called 'Hoovervilles' and his inability to end the economic crisis, but he was unable to translate this
The people. The faces
At the doors. Then my own face at the door.
No work, man. The pavement beneath my feet.
I can feel the cardboard in my shoes and once Only the finest of leather would do. From living
It up putting on the Ritz in the Big Apple
To selling Apples and eating Ritz crumbled
In charity stews. FDR says
Big government will provide big jobs
And once again I will spend, and America
Will spend, and all will be well again.
But it's hard to believe,
What you read,
On paper, in the papers
After losing your money, your shirt, and everything
You are and own on paper -- paper lies, paper money
Paper words, are cruel.
So sir, that's how my Great Depression began.
That's why I learned not to spend. To save string.
To hoard, like a rat, what I earn, burning with anger…
The vey cux of the agument comes to the cental point of censoship -- who must be potected and why must they be potected? Ideas, political, social, o othewise, may be the most dangeous fom of liteatue eve. Fo instance, in 19th centuy autocatic egimes, the ideas of Kal Max, even Voltaie, Locke, and Jeffeson wee seen to be subvesive because they challenged the ode of things, the idea that the monachy should ule by divine ight, and that cetain people had, by manifest destiny, the ight to be moe equal than othes. So, too, do images and vebiage change ove time egading public acceptance. At the tun of the centuy bathing suits coveed almost 90% of the human body, and a day at the beach would've been fa diffeent had some of today's skimpy G-stings o bikinis shown up. Similaly, sexual activity was hinted at fom the ealy days…
references homo-eroticism in a coming of age drama; another might see critiques of the War on Terror subversive, while still another might find literary value in the works of art by someone like Robert Mapplethorpe. Thus, in order to maintain a free and just society in which ideas are strong commodities we must take the notion that an educated populace is an informed populace. Our focus should be on educating children and youth so that, when appropriate, they can make decisions about what is right, wrong -- how to vet source material, and above all, what ideas they might want to accept and which to reject. This documentary should be shown in the classroom for, much like the movie Saving Private Ryan, it brings the real story of history into the lives of people without over glorifying the issue. War and conflict are not pretty, not neat, and people do not die as they do in a John Wayne western. Of course, certain material is age dependent, but it is important to note that in Middle and High school, students appreciate the truth more than half-truths and old adages about history that are simply not factual.
The United States after the Great ar
orld ar I, also known as the Great ar, officially came to an end in 1918 and reshaped the country in a variety of ways. One of the most immediate changes was the way the world perceived the United States. Before the war, most of the country and its leaders preferred an isolationist stance to any international conflict. In 1914 the U.S. had only a small army and a pitiful navy, yet as the war progressed many Americans began to disapprove of the German's use of submarines to sink neutral ships such as the infamous sinking of the Lusitania (Hickman). However, it is interesting to note that the German's were actually correct in their assertion that the Lusitania was being used to carry military ammunition, as divers have recently uncovered from the wreckage, which did actually make the ship a legitimate…
Arnesen, E. "Red Summer: The Summer of 1919 and the Awakening of Black America' by Cameron McWhirter." 18 November 2011. Chicago Tribune. Web. 27 October 2012.
Greenhill, S. "Secret of the Lusitania: Arms find challenges Allied claims it was solely a passenger ship." 19 December 2008. Mail Online. Web. 27 October 2012.
Hickman, K. "World War I: Sinking of the Lusitania." N.d. Military History. Web. 27 October 2012.
Kaldor, N. "Inflation and Recession in the World Economy." The Economic Journal (1976): 703-714. Web.
Third, economic depressions spread from one nation to others whereas economic recessions remain substantially isolated where they first occur and they are eased partially by the strength of national economies elsewhere. Finally, contemporary analyses of economic downturns suggest that distortions to industrial labor markets that keep wages above market-clearing levels are more significant than even bank failures (Ohanian, 2010).
Recommendations and Conclusion
It is recommended that public statements on the matter highlight the failure of the opposition to recognize or understand the fundamental nature of economic depressions and the dangers associated with ignoring the important similarities between the 2008 economic crisis and the Great Depression. The current economic crisis shares all of the conceptual hallmarks of an economic depression, including the potential to persist over a longer term and spread globally more than it has already. In that regard, the key to overcoming the current economic crisis is in supporting…
Judis, J.B. "You Say Recession, I Say Depression: Why the difference between those two words is so important to the future of our economy." The New Republic, September 7, 2010. Retrieved September 8, 2010 from: http://www.tnr.com/article/economy/77427/economic-crisis-recession-depression
Ohanian, L.E. "Understanding Economic Crises: The Great Depression and the 2008
Recession." The Economic Record, Vol. 86, Sept. 2010: 2-6.
Mercosur is the fourth largest integrated market and is the second largest in the Americas (Paolera & Taylor, 1999). NAFTA is first. In May of 2008 Argentina was also elected to the Human Rights Council.
There have also been UN peacekeeping operations in places like Cyprus, Haiti, Kosovo, and the Middle East that have used Argentine troops (Paolera & Taylor, 1999). In 1990, diplomatic relations with Argentina were restored and many countries invest in Argentina (Paolera & Taylor, 1999). The U.S. is one of them, and is the sixth largest investor (Paolera & Taylor, 1999). In the pharmaceuticals sector, the UK is one of the biggest investors (Paolera & Taylor, 1999). It is easy to see that Argentina has been through a lot but it has emerged stronger and is capable of doing a great deal for other countries as well.
Caldwell, J. & O'Driscoll, T.G. (2007). What caused…
Caldwell, J. & O'Driscoll, T.G. (2007). What caused the great depression? Social Education, 71(2), 70-74.
Hopenhayn, H.A. & Neumeyer, P.A. (2003). The Argentine great depression 1975-1990. Universidad T. di Tella. Retrieved from: www.utdt.edu/download.php?fname=_ 116465913307356800.pdf
Ohanian, L.H. & Cole, H. (2002). The great UK depression: A puzzle and possible resolution. Review of Economic Dynamics, 19-44.
Ohanian, L.H. & Cole, H. (1999). The great depression in the United States from a neoclassical perspective. Quarterly Review, Federal Reserve Bank of Minneapolis, 2-24.
John Kenneth Galbraith's The Great Crash: 1929
John Kenneth Galbraith's book The Great Crash: 1929 claims that the depression of 1929 was a direct result of the miscalculations of the financial analysts and the other brokers which caused the crash of the stocks. He states that these actors of the economic field had a direct involvement in the stock market and had become too greedy to actually see what was happening to the market around them-too greedy to actually fear the recuperation's of what was easily predictable as the downfall.
The Great Crash of 1929 was one which shook the very foundations of the economic theories that were prevalent in the past and forced the society to realize that there was something fundamentally wrong when our basic concepts were proven so drastically wrong. John Kenneth Galbraith like many other economists remains fascinated with the Crash of 1929. As an economist…
1. The Great Crash 1929, by John Kenneth Galbraith (1997)
-Quotes from "The Great Crash: 1929," First Published 1955
Depression, Disease, And Aging
Aging brings many changes in health, social relationships, work situation, and other dimensions of life, and old age has been examined as one aspect of life development, showing how earlier stages contribute to the coping mechanisms older people have and how they apply these to new situations. A number of the changes accompanying old age can create stress and depression, and in turn these psychological states can contribute to the onset of disease or to the course disease takes. Studies have also shown that untreated depression can contribute to a higher suicide rate for the elderly.
How the elderly person is affected may depend on his or her closest relationship. The aging process for many includes physical or mental deterioration which can place considerable strain on the life partner, who now has to contend not only with his or her own diminished function because of aging…
Causes of depression 2004, GlaxoSmithKline, retrieved August 23, 2005 from http://www.depression.com/causes_of_depression.html .
Cox, H.G. (1988). Later life: the realities of aging. Englewood Cliffs, New Jersey: Prentice-Hall.
Depner, C.E. & Ingersoll-Dayton, B. (1985). "Conjugal social support and patterns in later life." Journal of Gerontology, 40, No. 6, 761-766.
Ebersole, P. & Hess, P. (1998). Toward healthy aging: Human needs and nursing response. St. Louis, Missouri: Mosby.
So, although the reverse of these characteristic is not indicative of depression, their expression within the context of grief suggests the lack of clinical depression.
ith the fundamentals of depression outlined, it is reasonable to wonder why such symptoms and behaviors manifest themselves in certain people and why they do not in others. Many different researchers coming from many different scientific backgrounds -- from psychology to biochemistry -- have investigated the fundamentals of depression, and each have constructed models as to what its underlying causes are. Each of these investigations has attempted to explain the causes and symptoms of depression and has offered treatment possibilities.
The psychological models of depression have focused their attention on failed early attachment, inability to obtain desired rewards, impaired social relations, and distorted thinking." This approach to depression has yielded some valuable information regarding the disorder; yet, much of the results make it unclear as…
Ainsworth, Patricia M.D. Understanding Depression. Jackson: University of Mississippi Press, 2000.
American Medical Association. Essential Guide to Depression. New York: Pocket Books, 1998.
Cherlin, Andrew J. "Going to Extremes: Family Structure, Children's Well-Being, and Social Science." Demography, Vol. 36, Nov. 1999. Pages 421-28.
Copeland, Mary Ellen M.S., M.A. The Depression Workbook: Second Edition. Oakland: New Harbinger Publications, 2001.
Depression in Young and Older Women
Recent research reveals that about one percent of the general population suffers from manic-depression and five percent suffers from major depression during their lives (Simonds, 2001, p. 86). However, the incidence for depression in women is twice as high or more; as many as one in five American women has a history of depression during her lifetime.
Due to the various social and medical problems presented by increasing numbers of women who suffer from depression, this topic is of utmost importance in today's society.
This paper will examine the causes and effects of depression in both young and older women; examine existing medical research for both groups; identify major differences in depression for young and older women; and present a conclusive analysis of observations.
To determine what the causes of depression are in young and older women, and to differentiate between the two groups,…
Blumenthal, Susan. (Fall, 1996). Gender Differences in Depression. The Decade of the Brain, NAMI, Volume VII, Issue 3.
Boyles, Salynn. (February 14, 2002). Older Women Have Tough Time With Depression. WebMD Medical News.
Merschino, Diane. (July 2002). Depression in Young Women. Women's College Hospital Foundation.
National Institute of Mental Health. (October, 1999). Depression: What Every Woman Should Know. NIMH Publication No. 95-3871.
Depression in Adolescents
Roughly nine percent of the population - an estimated 18.8 million Americans -- suffers from depressive disorders, illnesses that affect the body as well as the mind.
The effects of depression are magnified in children, who are experiencing depression in greater numbers. An estimated 8.3% of teenagers in the United States are suffering from depression, a significant leap from two decades ago. To compound the problem, researchers like Farmer (2002) found that about 70% of adolescents suffering from depression are unfortunately not receiving adequate treatment.
This paper examines the growing problem of depression among adolescents. The first part of this paper is an overview of teen depression, looking at its causes and contrasting teen depression with depression in adults. The next part then looks at the depressive symptoms among teenagers, contrasting these with the symptoms of depression in adults. In the last part, the paper examines the…
Beardslee, William R., Tracy Gladstone, Ellen Wright and Andrew Cooper. 2003. "A family-based approach to the prevention of depressive symptoms in children at risk: evidence of parental and child change." Pediatrics. 112(2): 401-412.
Egger, Helen. 2003. "Recognizing and treating depression in young children." The Brown University Child and Adolescent Behavior Letter. 19(3): 1-3.
Farmer, Terri J. 2002. "The experience of major depression: Adolescents' perspectives." Issues in Mental Health Nursing. 23(6): 567-586.
Koplewitz, Harold. 2002. More Than Moody: Recognizing and Treating Adolescent Depression. New York: Putnam.
Depression continues to be one of most common medical conditions for the elderly.
Percentages of elderly with the illness
Degree of increase in suicidal tendencies of depressed
Wrong assumption that aging necessitates depression.
Difficulty of healthcare providers in recognizing depression.
Increased tendency toward suicidal tendencies in many depressed.
Other individuals immune to depression and suicide despite life problems.
Individuals may not even recognize their own depression
Myths associated with aging including depression
Symptoms may take months to worsen and show up
Aging individuals should be treated similar to younger patients when seen by doctor.
Depression can mask itself in many ways
Up to family and healthcare providers to be vigilant and notice changes.
With care, individuals can be helped.
Depression ranks as one of the most common medical problems in the elderly. The occurrence of this illness among community-dwelling older individuals ranges from 8 to 15% and among institutionalized individuals,…
De Leo, D. (ed) (2004). Suicidal Behavior. Cambridge, MA: Hogrefe & Huber.
Evans, G. (2000) Suicide and the elderly: warning signs and helping points.
The Institute of Food and Agricultural Sciences (IFAS) of the University of Florida.
Fact sheet FCS2183. Gainesville, FLA.
Depression and Eating Disorders
The eating disorder category in the DSM-IV includes Anorexia Nervosa, Bulimia Nervosa, and the Eating Disorder Not Otherwise Specified categories. Peck and Lightsey (2008) note that while the DSM classification symptom is currently the most used system, there has been some debate in the about how to classify people with eating disordered behavior. A viable alternative to the discrete categories used in the DSM is notion of viewing eating disorders along a continuum from having no such behaviors to the severe eating disordered behaviors. In an effort to combine the two methods the self-report Questionnaire for Eating Disorders Diagnosis (QEDD) was developed. The QEDD distinguishes nonsymptomatic individuals (no symptoms) to symptomatic individuals (those that have some symptoms, but do not qualify for a diagnosis to anyone qualifying for an eating disorder diagnosis). Previous research has provided support for this conceptualization by comparing the QEDD with scores…
Hudson, J.I., Hiripi, E., Pope, H.G., Jr., & Kessler, R.C. (2007). The prevalence and correlates of eating disorders in the National Comorbidity Survey Replication. Biological Psychiatry, 61, 348 -- 358.
Then after Homer disappeared, she gave china painting lessons until a new generation lost interest, and then "The front door closed...remained closed for good" (Faulkner pp). Emily's depression caused her to become a recluse.
All three female protagonists are so dominated by male authority figures that their loneliness leads to severe depression, which in turn leads to madness, then eventually acts of violence. None of the women have active control of their lives, however, each in their own way makes a desperate attempt to take action, to seek a type of redemption for the misery and humiliation they have endured by the male figures in their lives.
Curry, Renee R. "Gender and authorial limitation in Faulkner's 'A Rose for Emily.'" The Mississippi Quarterly. June 22, 1994. Retrieved July 28, 2005 from HighBeam Research Library eb site.
Faulkner, illiam. "A Rose for Emily." Retrieved July 28, 2005 at http://xroads.virginia.edu/~drbr/wf_rose.html…
Curry, Renee R. "Gender and authorial limitation in Faulkner's 'A Rose for Emily.'" The Mississippi Quarterly. June 22, 1994. Retrieved July 28, 2005 from HighBeam Research Library Web site.
Faulkner, William. "A Rose for Emily." Retrieved July 28, 2005 at http://xroads.virginia.edu/~drbr/wf_rose.html
Gilman1, Charlotte Perkins. "The Yellow Wallpaper (1899)." Retrieved July 29, 2005 at http://www.library.csi.cuny.edu/dept/history/lavender/wallpaper.html
Gilman, Charlotte Perkins. "Why I Wrote The Yellow Wallpaper" 1913. Retrieved July 28, 2005 at http://www.library.csi.cuny.edu/dept/history/lavender/whyyw.html
era through the great depression_
The economy of the United States was faced with fair share of challenges towards the close of the 19th century that had to be mitigated lets they got out of control. Other than the economic woes, there were also widespread social injustices. There was eminent war between capital and labor. Progressive era was realized in the very last years of the 19th century up to 1917 (Sage, 2010). The progressive era was a dawn of new ideas and progressive reforms. Some of its advantages are enjoyed to date. Some of the major events that characterized the progressive era were the birth of the American oil industry in 1901 and the initiation of the National Association for the Advancement of Colored People in 1909.
The first American oil was prospected in Texas' Spindletop and this set precedent for evolution of the nation's oil sector. The Texan…
References Bridgen, K. (2012). The war on women: Women's right to vote. Retrieved March 14, 2013 from http://www.examiner.com/article/the-war-on-women-women-s-right-to-vote .
Commercial Laws. (2012). What is the Hepburn Act 1906? Retrieved March 14, 2013 from http://commercial.laws.com/hepburn-act .
Grossman, J. (1973). The origin of the U.S. Department of Labor. Retrieved March 14, 2013 from http://www.dol.gov/oasam/programs/history/dolorigabridge.htm .
NAACP. (2012). National Association for the Advancement of Colored
People Victories. Retrieved from http://www.naacp.org/pages/our-mission .
e learn that our way of life can change practically overnight. e learn that suffering on a massive scale can happen from just a few high-level missteps. But perhaps most importantly, we learn that the American spirit has an amazing capacity for resourcefulness and resilience -- a lesson that might comfort us in our own times of worry.
"Always Lending a Helping Hand: Sevier County Remembers the Great Depression." New Deal Network. eb. Retrieved 19 Sept 2011 from http://newdeal.feri.org/sevier/index.htm
Downing, David. The Great Depression. Chicago: Reed Educational Publishing, 2001.
Horowitz, Irving Lewis. "A Child's View of the Great Depression." Antioch Review. Fall 2009, Vol. 67, Issue 4. p 678-681.
McNeese, Tim. The Great Depression, 1929-1938. New York: Infobase Publishing, 2010.
Schultz, Stanley. The Great Depression: A Primary Source History. New York: Gareth Stevens, 2005.
"Always Lending a Helping Hand: Sevier County Remembers the Great Depression." New…
"Always Lending a Helping Hand: Sevier County Remembers the Great Depression." New Deal Network. Web. Retrieved 19 Sept 2011 from http://newdeal.feri.org/sevier/index.htm
Downing, David. The Great Depression. Chicago: Reed Educational Publishing, 2001.
Horowitz, Irving Lewis. "A Child's View of the Great Depression." Antioch Review. Fall 2009, Vol. 67, Issue 4. p 678-681.
McNeese, Tim. The Great Depression, 1929-1938. New York: Infobase Publishing, 2010.
His painting (social realism) called "Approaching Storm" is a remarkable portrayal of a man walking up a hill with a bucket of water and two donkeys waiting to be told what to do. In the distance is a menacing storm. The website (Twecht.tripod) says that this farm could possibly have been a beautiful place to live at one point in time…but now it is gray and windy…all life in the painting ceases to exist" (www.twecht.tripod.com).
Dorothea Lange is among the best known of all the photographers and artists that contributed to the social realism movement during the Great Depression. Lange's most famous photograph, "Migrant Mother," shows a worried woman with two "tousle-haired children clinging to her, their faces turned away from the camera" (u, 2010, p. 1). A third child is asleep in the woman's arms. That photo -- taken in a migrant camp in California -- is…
Archives. "Portfolio: Dorothea Lange." Retrieved Dec. 7, 2010, from http://www.archives.gov/exhibits/picturing_the_century/text/port_lange_text.html .
Illinois State Museum. "The Federal Art Project (FAP)" Retrieved Dec. 8, 2010, from http://www.museum.state.il.us/muslink/art/htmls/de_FAPhist.html . (2010).
The History Place. "Migrant Farm Families." Retrieved Dec. 8, 2010, from http://www.historyplace.com/unitedstates/lang/index.html. (2010).
Twecht Tripod. "Thomas Hart Benton: Approaching Storm, 1938." Retrieved Dec. 8, 2010,
Economic Depression of Europe
An economic depression is more severe than a recession due to the fact that a depression involves drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and high levels of unemployment.
There were economic depressions in Europe that were experienced before and after the 1870 but with a remarkable difference, being that those that were experienced before the 1870s were less costly in terms of life and resources and took relatively lesser period. Indeed it was a commonplace that every part of Europe experienced one sort of economic depression or the other.
One such economic situation before 1870 was the "little ice age" which began in the late 16th century till around 1950s as indicated by Big Site of History (2011). This was a time when a severe cold that could not be withstood by most crops set in most…
Big Site of History (2011). Social Trends in 17th Century Europe: The Problem of Divine-Right
Monarchy. Retrieved July 18, 2011 from http://bigsiteofhistory.com/social-trends-in-17th-century-europe-the-problem-of-divine-right-monarchy
Historic UK, (2011). The Great Plague 1665. Retrieved July 18, 2011 from http://www.historic-
Economic Depression in 1929
The Great Depression of the 1930s began with the stock market crash in October 1929. When this occurred, Herbert Hoover was president, and he did not do enough, in many people's opinion, to end the depression. In fact, many of the "shanty" towns where homeless, out of work people lived were called "Hoovervilles." Republican Hoover took a stand back and wait approach, he felt that American business would rebound, and that it was not the business of government to get involved in creating jobs. Hoover understood he needed to make changes, but many of the changes he attempted failed, due to a Democratic Congress and a strained federal budget. The country continued to blame Hoover as the depression worsened, and threw more and more people out of work. He did initiate work programs and economic legislation, but it was not enough to put the country back…
eading 4.6 b.(collecting information, using resources from media centers online, print and other media resources)
Using the media center, the children will find information on the Great
Depression -- what caused it, how it affected the people of the United States and in other places of the world.
Grade level: 4th
a) allow students to learn skills to help them find information about topics that they need to research. This will help them immensely as they go through school.
So much information is found online these days, giving students the tools to answer their own questions is a very important aspect of learning.
Character Principles: Discipline -- "And that you study to be quiet, and to do your own business, and to work with your own hands, as commanded you" (I Thessalonians 4:11). Work ethic -- "But let every man prove his own work, and then shall he…
HCISD (Harlingen Consolidated Independent School District). (2010). "Math Lesson
Plan Ideas." Retrieved on August 28, 2010, from the Web site:
Spano, M. (2002). Measuring up to the Virginia standards of learning, mathematics:
Galbraith's Great Crash
The Great Crash of 1929 and the ensuing Great Depression is an event that many comparisons are drawn against. Certainly in a time of global economic recession, bank bailouts, and political meanderings about the future of social safety nets like Social Security and Medicare, the topics in Galbraith's book represent interesting anecdotes and lessons we can learn from the event. Galbraith uses both his sharp wit and his background in finance and economics to pinpoint the causes of the crash and make some assertions as to the true roots of the Great Depression. Interestingly enough, Galbraith does not attribute the crash to an abundance of credit, as was the case in 2000's, and which caused some of the panic and financial markets damage in 2008. This is a point of contention with some economists, and I believe that Galbraith's assessment of the situation in 1929 is correct…