Sample on the Great Depression in the USA

Sample on the Great Depression in the USA The Great Depression in the United States Jan 11, 2019 in History Introduction The period that lasted from 1929 to 1939 is considered to be the years of the Great Depression in the United States. Moreover, this global depression is named as a world economic crisis. The depression touched upon not only the US, but also Canada, Germany, Great Britain and France. Thus, it is interesting to find out in what way the depression occurred in two continents. Obviously, this great crisis was caused by some serious reasons. First of all, strong deflation provoked financial unsteadiness, business interruption of many enterprises, credit defaults. As the result, unemployment rates rose tremendously. Industrial production dropped to the level of the beginning of the XX century. There were about 30 million of people out of work in the industrialized countries with developed market economies (Beaudreau, 2014). Nearly a hundred years ago Emerson asked, Can anybody remember when the times were not hard and money not scarce? As the rule, nobody knows the answer to this question. Besides, economists have not reached a consensus on the causes of the Great Depression. Thus, were there any differences between European and American Depression? Can it be considered a kind of regular process in the world? The Analysis of the Period of the Great Depression To begin with, itis necessary to clarify what exactly the Great Depression meant for American nation. As it was already mentioned, this crisis had a huge impact on peoples lives. During 1929-1939, deteriorated farmers, small traders and the middle class were below the poverty line. From 25 to 90 % of children suffered from malnutrition throughout the country. Nevertheless, one should not forget that this period was not the only one during which the state faced such difficulties. R. Duffers (1932) mentioned in his article that hard times dated back to the years 1837, 1873, 1893, perhaps, 1907 and 1921, and of course 1929. It can, thus, be suggested that the phenomenon of the Great Depression is a kind of a regular process.