What was the impact of the Great Depression on U.S. society?

Answer 1

The depression was brought around by circumstances that were not in the hands of most. People bought stock on no money down deals and when that stock had to be paid for there was no money to back it. That spawned the Federal Reserve System which most people think is a government system that was and is supposed to stop another great depression from occurring. What few knew then or now is that it is a private bank that lends money to this country and makes money off of the interest and control of that money. The depression also spawned America's first foray into socialism. The government was the great healer and provider of all to people. It was just what every socialistic person thought should be the way. The programs included building projects that were taken out of the hands of the states and became the product of a central government. People then expected the government to be the provider of all for the people and such programs as social security were born. It was a "voluntary" program but heaven help you if you didn't contribute or didn't want to be part of it. This was then accepted by us as a country and has lead to other social programs as Medicare, Medicaid, and too many other programs to mention. At the time people were trying to find any kind of work as there was none. People had no money but the money was backed by gold and so inflation was not a major factor here as it was in the European countries. The ultimate thing that was then and still exists is the thinking that the government will take care of us and we have no self responsibility. You can see that now as more and more people expect the government to fix every problem instead of doing it themself.

Answer 2

Answer Well that started FDI banks in case of anthor market crash == FDIC stands for "Federal Deposit Insurance Corporation", which insures each bank account up to $100,000 in the event the bank would go broke. The Great Depression affected our society in a number of ways. There were no jobs, so of course people had no money to house, feed and clothe themselves. After the tremendous Stock Market crash, many people lost pretty much every thing they had. Some (mostly men) were so devastated over this loss, and felt like failures, that they committed suicide. The suicide rate during that time went to an all time high. Many of the men who lost everything in the 'crash' actually jumped from their office windows from quite a few stories up. Some of the foods (commodities such as sugar, flour, coffee, etc., as well as gasoline) were doled out to families in limited amonts. This was done by giving each family a voucher for the item(s) that allowed them to buy only a certain amount of those items. Women couldn't buy stockings, because the silk used in making them was also used by the military for parachutes, etc. Even cotton fabric was not as readily available since it was used for bandages for the military. There were many, many other things that were not available to the general public. The military's needs came first, so they took priority over the general public. The lack of jobs was devastating to the country. Families lost homes, farms, and couldn't pay for food or clothing, medical treatment, etc. All of this had a tremendous impact on the people of our country, and took many years for our country to 'get back on its feet'.

Answer 3

America's "Great Depression" began with the dramatic crash of the stock marketon "Black Thursday", October 24, 1929 when 16 million shares of stock were quickly sold by panicking investors who had lost faith in the American economy. At the height of the Depression in 1933, nearly 25% of the Nation's total work force, 12,830,000 people, were unemployed.

Wage income for workers who were lucky enough to have kept their jobs fell almost 43% between 1929 and 1933. It was the worst economic disaster in American history. Farm prices fell so drastically that many farmers lost their homes and land. Many went hungry.

Answer 4

The stock markethas crashed and people have invested in it so it was not a good idea to because they would lose their money because no one would buy the product as much as they did before the great depression. There savings were lost so they were poor. That is one effect but there are many more just look them up.

Answer 5

The major effect of the Great Depression and the New Deal on America was expanded government intervention into new areas of social and economic affairs and the creation of more social assistance agencies at the national level. The relationship between the national government and the people changed drastically. The government took on a greater role in the everyday social and economic lives of the people. The New Deal programs of FDR also created a liberal political alliance made up of labor unions, blacks and other ethnic and religious minorities, intellectuals, the poor, and some farmers. These groups became the backbone of the Democratic Party for decades following the Depression. As the federal government grew with new agencies and reform attempts, the cost of government increased. The growth of the government continued following the New Deal.

The Great Depression and the New Deal measures led to the domestic programs of JFK's New Frontier, and LBJ's Great Society and War on Poverty. The New Deal measures have also had an influence on the current Obama administration, in its attempts to stimulate the economy.

Answer 6

The Great Depression was the cause of major unemployment, the loss of income, the loss of some people's life savings, and a complete collapse of the economic system that many had predicted would end poverty and economic suffering. The major effect of the Great Depression on America was expanded government intervention into new areas of social and economic affairs and the creation of more social assistance agencies at the national level. The relationship between the national government and the people changed drastically. The government took on a greater role in the everyday social and economic lives of the people. The New Deal programs of FDR also created a liberal political alliance made up of labor unions, blacks, other ethnic and religious minorities, intellectuals, the poor, and some farmers. These groups became the backbone of the Democratic Party for decades following the Depression.

The Great Depression and the New Deal measure led to the domestic programs of JFK's New Frontier, and LBJ's Great Society and War on Poverty. The New Deal measures have also an influence on the current Obama administration, in its attempts to stimulate the economy.

Answer 7

The depression was brought around by circumstances that were not in the hands of most. People bought stock on no money down deals and when that stock had to be paid for there was no money to back it. That spawned the Federal Reserve System which most people think is a government system that was and is supposed to stop another great depression from occurring. What few knew then or now is that it is a private bank that lends money to this country and makes money off of the interest and control of that money. The depression also spawned America's first foray into socialism. The government was the great healer and provider of all to people. It was just what every socialistic person thought should be the way. The programs included building projects that were taken out of the hands of the states and became the product of a central government. People then expected the government to be the provider of all for the people and such programs as social security were born. It was a "voluntary" program but heaven help you if you didn't contribute or didn't want to be part of it. This was then accepted by us as a country and has lead to other social programs as Medicare, Medicaid, and too many other programs to mention. At the time people were trying to find any kind of work as there was none. People had no money but the money was backed by gold and so inflation was not a major factor here as it was in the European countries. The ultimate thing that was then and still exists is the thinking that the government will take care of us and we have no self responsibility. You can see that now as more and more people expect the government to fix every problem instead of doing it themself.