Essay On Causes Of The Great Depression

Essay On Causes Of The Great Depression-27
Each embraced a pair of episodes with lastingly transformative impacts.

Each embraced a pair of episodes with lastingly transformative impacts.

Virtually none enjoyed such common urban amenities as electricity and indoor plumbing.

Other maladies began to appear, faintly at first, but with mounting urgency as the Depression began to unfold.

But even after due allowance has been made for the effects of the American stock market’s "Great Crash" in 1929 and for the policies of the United States Federal Reserve System, there can be little doubt that the deepest roots of the crisis lay in the several chronic infirmities that World War I had inflicted on the international political and economic order.

The war exacted a cruel economic and human toll from the core societies of the advanced industrialized world, including conspicuously Britain, France, and Germany.

Among those eventually excluded (though none could yet know it) were thousands of Jewish would-be fugitives from Nazi persecution.

Militarily, diplomatically, commercially, financially, even morally, Americans thus turned their backs on the outside world.

To those abundant physical and institutional ills might be added a rigidly doctrinaire faith in laissez-faire, balanced national budgets, and the gold standard.

All of this added up to a witches’ brew of economic illness, ideological paralysis, and consequent political incapacity as the Depression relentlessly enveloped the globe.

It did not entirely lift until the next world war, more than twenty years later.

The long-suffering countryside was home to nearly half of all Americans in the 1920s; one out of every five workers toiled on the nation’s fields and farms.

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