Effects and Results of the Great Depression
During the year of 1929 a tragic event happened that affected the United States of America for the worst. This event is known as the American Great Depression. It was a crash in the stock market that sent the United States into an economic downfall of the greatest proportion. This occurrence lasted from 1929 up until 1941, when the United States supposedly wasn’t in the war. Thus these are basic events leading to and resulting from the stock market crash of 1929.
During World War I the United States was at an all time economic high. By producing weapons for the United States and other allied armies the economy soared past the norm. Whiling the fighting was going on over seas the women and African American workers were increasing the value of every American made product. As the tide was turning in favor of the Allied powers troops and the war was drawing near closure, production of goods started to slowly decrease, but not enough for alarm. The United States government never prepared for the closing of the war and was unprepared for the return of the troops from Europe.
As the troops returned all the jobs previously held by the soldiers were now taken by the women and the African Americans of the south. Just as the war ended the need for the war-time supplies ceased to be needed and many of the factories closed due to the fact that there was no need for weapons or military supplies. With millions of troops returning home from the war the worst and longest period of high unemployment and low business activity in modern times was set. The jobs held by the African Americans of the south and the women were taken and given to the ex-soldiers. As many of people were left jobless the nation’s crime rate sky-rocketed to an all time high as most were left to starve and go without shelter. John Kenneth Galbraith said “Early in 1928, the nature of the boom changed. The mass escape into make-believe, so much a part of the...