Order similar paper The Great Depression background The great depression is an immense tragedy that took millions of people in the United States from work.
There are many contributing factors but not one specific event can be pin pointed for starting the depression. It is believed that some events contribute more than others-such as the Stock Market Crash of So many people sold their stocks at a rapid rate that the corporations were unable to pay the shareholders.
Sooner or later a crash is coming which will take the leading stocks and cause a decline from 60 to 90 points in the Dow Jones Barometer. This was a leading causes that assisted the Great Depression become one of the bleakest and most studied events in the history of our country: Another large contributing factor was Mother Nature, I say this because in Oklahoma the weather was so dry that the farmers were unable to harvest their crops: In other areas, the extreme opposite took place: The drastic result of this oversupply made it hard for farmers to make money due to the fact that they had so much that they were forced to sell it at substantial low priced just to remain competitive enough to make even the small profit they were making.
For example when banks had large reserves, they lowered interest rates.
Cheaper loans encouraged manufactures to invest in new equipment and hire additional workers. The resulting expansion of production caused an upswing of the cycle.
That discouraged investors and slowed the economy down. Another good explanation was the bad distribution of wealth for the cycles. During these challenging and difficult times the rich opted not to spend there money: This resulted in increased investments, more production, and eventually more goods piled up on shelves and warehouses.
Prices fell, production was cut back and workers were discharged. As a result, the economy entered the depression phase of the cycle. The crisis stage of the cycle was brought about by bank failures and by irrational selling of stocks ;thus causing business failures, a slowing in production, a rise in unemployment, and an overall optimistic view about the future.
Lionel Robbins was a professor at the London School of Economics. An example of Robbins philosophy was that the monetary confusion and rampant inflation after the war had hampered. Many policies that the government put out hurt and slowed the recovering economy. One act known as the American Hawley-Smooth of crushed the European industry which was already unstable from the depression.
It stopped European trade and prevented European from earning the almighty dollar. This Act also destroyed any possibilities of regaining the money loaned to them during World War I. The collapse of the German Banking system in had monumental affects on the entire world.
It aided to turn, what would have been, a small economic problem into the Great Depression. They claimed the reparations brought down the economic vitality of their country to an all time low.Australia suffered significantly during the Great Depression of the late s.
Australia was one of the worst effected countries in the World. This essay will look at why Australia lead the world into Depression in the late s and why it suffered from it's effects for so long.
THE GREAT DEPRESSION My Essay: The Great Depression was a tragic time in history, thousands of people went poor, unemployed or little pay, children were forced to work at young age, women were scared to fall pregnant and some people like the employers and the wealthy weren’t affected.
“The Great Depression of the ’s was a worldwide phenomenon composed an infinite number of separate but related events.” The Great Depression was a time of poverty and despair caused by many different events.
Below is an essay on "Great Depression in Australia" from Anti Essays, your source for research papers, essays, and term paper examples. The great depression affected Australian society in different ways. Australia and the Great Depression Essay.
Why did Australia lead the world into Depression in the late s and suffer its effects so gravely and for so long? Australia suffered significantly during the Great Depression of the late s.
Australia was one of the worst effected countries in the World. During there were over 40, people living in shanty towns. One well known shanty town was called Happy Valley in the sand hills of La Perous to the South of Sydney. Unemployment had a big impact on Australia during the Great Depression because at one point during the Depression there were 60, people unemployed.