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The Great Depression of 1929: Overview of Causes and Effects on America
– February 15, 2013
Those who choose to ignore history are condemned to repeat it. The end of World War I in 1919 found the war torn countries of the world in a great depression. Their economic systems were shattered. The change to peace time production was undertaken and the recovery was sure but slow. The United States never experienced any war on its soil and seem to fare differently. According to U.S. History, the 1920s were the "Roaring 20s" were city life was full of "Speak Easies" (night clubs) and free flowing "illegal" liquor. Businesses were booming and the stock market was an easy way to make big money. The rich and their money were featured promptly through out the time. Many cities and towns were controlled by "gangsters" fighting over the rights to territory for selling of the illegal "booze". Al Capone, “Bugs” Moran and Elliot Ness were the news makers of the day. The real signs of the depression could be seen in the daily lives of the struggling farmers, the forgotten immigrants and the lower working class of people. U.S. History marks the 1929 Stock Market Crash as the beginning of the Great Depression in America, but has little mention of the how the warning signs of the coming event was obscured by the great prosperity of the industrial revolution. The wealth of the country was only shared by the rich while ignoring the general populace. The 1930's hero was Franklin D Roosevelt; the president who led the country through the Great Depression. FDR's "New Deal" was to aid the recovery of America; however, critics say it only prolonged and made it worse. What was the New Deal? Why has history ignored the flight of the farmers, working class and immigrants who composed the majority of the population? Did the Government really act on behalf of the people? Did the laws not go far enough to provide any benefits for the people? Today, many of these laws provide the bases for the functioning of our economic society. The general populace still consist of the basic working class supporting the few well to do. The signs of the eroding economy can be seen everywhere but despite government action progress has been extremely slow. Have all the hard earned lessons learned by the people of the great depression being ignored? Is the U.S. again positioned for another great depression? Learn what the signs where and compare the present day situation. What conclusion can you reach? Did the United States learn from the history of the Depression or are we once again repeating history again?
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