Known also as Black Tuesday, October 29th left stockholders shattered with recorded losses reaching $40 billion dollars (Kelly, n.d.). Many banks and financial institutions began collapsing which led to irretrievable, uninsured deposits and savings. Fearing further loss, people began spending less which led to a decrease in production and an increase in unemployment. As companies began to fail, the government devised the Smoot-Hawley Tariff in order to protect American businesses. The Tariff placed high taxes on imports leading to a decline in international trade.
This means that the prices for stock were too high, far higher than they were really worth, then they fell drastically. People who had borrowed money to buy high-priced stocks (intending to sell the stocks at a profit and repay lenders), went bankrupt. That’s further expounding on what I said about buying on margin. Black Tuesday also marks the beginning of the great depression (Regan3). Living conditions during this time were unsanitary and horrible.
Both classes had disagreements with the Articles of Confederation. Federalists say that the articles were weak and ineffective because the state governments was too weak to apply laws and ordered for a national government instead. We Anti-federalists however believed that the Articles of Confederation was a good plan and that there should not be a government more powerful than the state governments. Believing that state governments should have more power compared to the national government was one of the big reasons why the anti-federalists supported the Articles of Confederation. How about the U.S constitution, what factors were held to point out?
What more could they be doing? What handicaps do they work under in trying to help you? As a business owner in 1937, times were hard all over the nation. When you think of local effects, such as being a local business owner in Oregon City, you can see the vast problems with the economy. The first big issue is the fact this time period is predominantly remembered as the “Great Depression.” The Great Depression began on October 29th, 1929 with the crash of the stock market in the United States.
It is during this time, in the fictional town of Maycomb in southern Alabama, that the novel is set. The Great Depression brought distress to many people throughout America. It was with the Wall Street Crash in October 1929 that suddenly ended the strong American economy, and the Great Depression began. The crash led to many companies and banks closing, and industries suffering as no one wanted to spend any money. Many were left unemployed and had to take to the road to find work.
Then finally on October 29,1929th the stock market crashed, because no one was buying and this directly led to the Great Depression. After the Stock market crashed not even 2 months later, the stock holders had lost more than forty billion dollars. Though the market had once again began to come of its losses back by the end of 1930, it was not enough and America entered what we now know as The Great Depression. After the stock market
These and many other problems have led to the country’s poor economic growth performance, paralyzed manufacturing sector, high rates of inflation, massive displacement of the population, and high unemployment rate, which have culminated into extreme poverty and food insecurity and hunger amongst the population. Overall, the economy has not performed well, since the inception of the civil war. A combination of bad governance, limited social integration between the then ruling elite since independence and the rest of the society, coupled with inequality in the distribution of the wealth of the nation provoked the military coup in 1980, which was followed by the civil war in 1989. These events impacted the lives of the people negatively and contributed to the worsening poverty rate and food insecurity in the country. Poverty and food insecurity as we know are multi-dimensional phenomena, which have political, social, economic and cultural implications.
This essay explains these factors in turns… Starting from the main aspect, a major problem for the L.O.N (League of Nations) was the Wall Street Crash in 1929. The Crash mainly affected the USA. USA was in short of money and couldn’t lend money to other nations or buy goods from other countries. This caused massive unemployment around the world. This made countries care about themselves (self- interest).
The middle class was nearly non-existent. This occurs often in the world, but the Great Depression was the worst economic downfall in the history of the U.S. It spread and affected all of the industrialized world. The depression began with Black Tuesday, and lasted for nearly a decade. According to Paul Alexander Gusmorino, the main cause of the drastic downfall was the combination of unequal distribution of wealth and the extensive stock market speculation that took place in the later years of that decade.
This reduces the democratic choice of the electorate as the underfunded small parties and independent candidates that are put forward have little hopes of winning seats or the election, these votes cast on these candidates are “wasted.” The voices of these individuals in the electorate are not heard in parliament. It is sometimes insinuated that the major parties develop the smaller parties or independent candidates to reduce the heat from their opponents. Using the First Past the Post System general elections were made to ‘Enhance Democracy’ but yet still the voices of the electorate are not heard, as the results are clearly disproportional. In the February 1974 general elections in the UK we see clearly the undemocratic nature of the UK general elections as we see the Conservatives gaining 200, 000 more votes than the Labour Party, however, they did