What and when was the Great Depression?

Answer 1

1) The Great Depression describes the period from late 1929 to 1941, when the US economy contracted. The Depression was characterized by massive unemployment, falling demand, low capital investment, business failures,and generally poor economic performance.

2) Although the Depression may be said to encompass the whole period from 1929 until American entry in WW2, in popular consciousness it mainly refers to 1931-37. There was a market and business rally in 1930, and this was popularly expected to be the end of the business "slump" that had begun with the Stock Market crash of October 1929. By 1932 the Depression was seen as a long-term, serious emergency. The New Deal programs began in 1933-34; there was a modest recovery till 1937, when another serious business contraction set in. There was a gradual rise in employment and production 1938-41, but investors and managers were now very risk-averse, so production and investment remained below 1929 levels until America was well into the War.

Answer 2

Hello!

The Great Depression was a severe worldwide economic depression during World War 2. It affected the stock trade greatly and many families became broke. It was the longest and worst depression in the U.s. during the in the 20th century.

The Great Depression lasted from 1929 until the late 1930's or early 1940's.

Thanks!

~Thunderfin~

Answer 3

The stock market crash, structural weakness of the economy, overproduction, maldistribution of wealth and an international crisis contributed to the Great Depression in the United States. Hoover was interested in world peace and wanted to advocate cooperative individualism. He said "people should depend on charity and take care of each other, we'll all suffer but we'll make it through". He was against federal aid during the great depression. He was unprepared to deal with this crisis and tried to tell people that laughter was the best medicine. He lowered taxes and raised the tariff, as a result, international trade died out at this point. He encouraged volunteerism and businesses to tax cut and invest it in the economy. The Reconstruction Finance Corporation gave the government the ability to loan money to major failing banks and big businesses. This was a very limited measure though. It only bailed out certain people for certain reasons and this angered the people. During FDR's first 100 days he waged war against the economy by attacks the baking crisis. He created a bank holiday which would shut down the banks so people wouldn't withdraw all their $. He also created an emergency banking which would loan money to failing banks from the federal reserve so they don't go totally under. The Glass Steagall Act was another one of his attempts; this was a separation of investment and commercial banking. According to the people, capitalism was save in 8 days." He also created the Agricultural Adjustment Act which paid farmers to keep land fallow. The National Industrial Recovery Act was created to cure over production, boost prices, protect labor, end cut throat competition and created the National Recovery Administration which meant that big businesses should have set standards, codes and wages to eliminate cut throat competition. The Federal Emergency Relief Administration was also created as well as the Civilian Conservation Corp. This put young men to work in national parks to work in forests preservation. The Public Works Administration was created to build roads, hospitals, bridges etc. He also created the Tennessee Valley Authority which hired unemployed to build dams to prevent floods. Some of the most recognized populists were Father Coughlin, Upton Sinclair and Charles Townsend. Father Coughlin attacked Wall Street and capitalism. He wanted government ownership of industry and supported fascism. Huey Long , gov of LA, which was the closes thing to fascism that the US has ever seen. He had complete control over every branch in LA. He increased taxes on LA oil companies and takes that $ to build roads, schools, hospitals etc which provided jobs. He also wanted a guaranteed national income an free college. Sinclair ran for gov of CA and experienced the first negative campaign. He wanted to put the poor people to work on the fallow lands in CA. Townsend as the spokesperson for the elderly in CA. He liked the idea of old age pensions and social security which would stimulate the economy but no one liked it because it w s too expensive.The second new deal came about as a result of the populists. It created the Works Progress Administration which put the unemployed to work building post offices, county buildings, 500,000+ miles of road, 600 airports, stadiums, community swimming pools, sewage treatment plants, etc. It also included the Wagner Act which established the workers' rights to collective bargaining. It outlawed firings and blacklistings of union members. It also created the Social Security Act which gave unemployment insurance to disabled and elderly. He wanted the money to come from taxing the people. The Revenue Act of 1935 increased corporate taxes.

Eleanor worked for civil and equal rights but FDR never really touch the issue. Social Security was not extended to African Americans. Southern Democrats revolted if Roosevelt tried to help African Americans and they wouldn't pass his acts/laws if he did, as result his effort for helping them was low. The states were in charge of the CCC, WPA, etc. They didn't generally give those jobs to African Americans. The Federal Housing Act also discriminated against blacks and further segregates America. Fed Employment Practices were discriminatory and projects in the south refused to hire blacks.They were the last hired and the first fired. Although, FDR did appoint Mary McLeod Bethune to his cabinet. He encouraged hope for them.

The new deal was the great debate between R and D. The debate was to either extend the new deal or cut back on it. It shifted politics. Before the 1920's, the R were progressive and they slowly start becoming more conservative. The government expanded as well and it was the first time the government gets involved in the welfare of common people. FDR also increased the power of imperial presidency. The people that lived through the Great Depression said "We didn't go hungry but we lived lean." During the GD, unemployment reached 25% by 1933. 86,000 businesses failed between 1932-3. The national income in 1929 was 87.8 billion in 1933 it was 40.2 billion. Wages declined by 60%, 9 million savings accounts were wiped out, poverty became a way of life. People moved to the cities to find jobs but there were no jobs were left. The homeless built shanty-towns around cities and called them Hoovervilles in spite of Hoover's response to the Depression and people began to blame Hoover for the Depression.. People stood in the breadline from charity handouts. People started eating jackrabbits and called them Hooverhogs.

Answer 4

The Great Depression is an economic depression that resulted when the US stock market crashed in October of 1929. Some other factors that caused the Depression include irresponsible credit card debt and speculation on stocks.

Answer 5

The Great Depression began at different times in different countries. In most countries it is considered to have begun in 1929. In the US it was 29 October 1929. While many countries began to recover in the late 1930's for many the effects lasted until World War 2.

There are many different theories as to why the Great Depression was so much worse and more widespread that previous economic downturns. No doubt part of it was the increasing inter-relationships of the world economies, the harsh peace terms given Germany after World War 1, and the economic bubble and subsequent stock market crash in the US.

Answer 6

Worldwide, beginning in 1929 and extending until the beginning of WW II.