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There are many contributing factors but not one specific event can be pin pointed for starting the depression. It Great depression and its causes essay believed that some events contribute more than others-such as the Stock Market Crash of So many people sold their stocks at a rapid rate that the corporations were unable to pay the shareholders.
Sooner or later a crash is coming which will take the leading stocks and cause a decline from 60 to 90 points in the Dow Jones Barometer. This was a leading causes that assisted the Great Depression become one of the bleakest and most studied events in the history of our country: Another large contributing factor was Mother Nature, I say this because in Oklahoma the weather was so dry that the farmers were unable to harvest their crops: In other areas, the extreme opposite took place: The drastic result of this oversupply made it hard for farmers to make money due to the fact that they had so much that they were forced to sell it at substantial low priced just to remain competitive enough to make even the small profit they were making.
For example when banks had large reserves, they lowered interest rates. Cheaper loans encouraged manufactures to invest in new equipment and hire additional workers. The resulting expansion of production caused an upswing of the cycle.
That discouraged investors and slowed the economy down. Another good explanation was the bad distribution of wealth for the cycles.
During these challenging and difficult times the rich opted not to spend there money: This resulted in increased investments, more production, and eventually more goods piled up on shelves and warehouses.
Prices fell, production was cut back and workers were discharged. As a result, the economy entered the depression phase of the cycle.
The crisis stage of the cycle was brought about by bank failures and by irrational selling of stocks ;thus causing business failures, a slowing in production, a rise in unemployment, and an overall optimistic view about the future.
Lionel Robbins was a professor at the London School of Economics. An example of Robbins philosophy was that the monetary confusion and rampant inflation after the war had hampered.
Many policies that the government put out hurt and slowed the recovering economy. One act known as the American Hawley-Smooth of crushed the European industry which was already unstable from the depression. It stopped European trade and prevented European from earning the almighty dollar. This Act also destroyed any possibilities of regaining the money loaned to them during World War I.
The collapse of the German Banking system in had monumental affects on the entire world. It aided to turn, what would have been, a small economic problem into the Great Depression.
They claimed the reparations brought down the economic vitality of their country to an all time low. Not one single book I have read has blamed any one specific country for the start of this catastrophe.
As a matter of fact, each book has said if the countries would have worked in unison rather than focusing solely on themselves we might not have ever heard of the Great Depression. Nobody knows what the result would have been if the countries worked together and resolved the problem before it festered as it did.
No one ever envisioned the extensive duration of the depression. My only prayer is that we never see another time like this again. When American producers cut back on their purchases of raw materials and other supplies, the effect on other countries was devastating. After Great Britain was again forced to leave the gold standard inmany foreign banks withdrew deposits from America in the form of gold: High unemployment was the most alarming aspect of the Great Depression.
It has been estimated that in about thirty million workers were jobless, about two-thirds of these in three countries — the United States, Germany, and Great Britain.The causes of the Great Depression of the 's and 's has been argued about for generations.
Most people agree on several key topics and that it was the severity and length of time the Depression lasted that was actually the most remarkable. Another group of factors that lead to depression are different psychological problems. Most often, low self-esteem is the major cause, since it makes a person treat themselves with neglect, prevent them from believing in their own strengths, and see the world pessimistically.
Causes of the Great Depression Essay The Great Depression - Words The Great Depression was an economic slump in North America, Europe, and other industrialized areas of the world that began in and lasted until about The Great Depression: Causes and There are many points in American history that have a great effect on America as a whole.
But there are also some major turning points, these moments in history leave a large impact on the course of America. The Great Depression: Causes and Effects.
Print Reference this. Disclaimer: G. Rethinking the Great Depression: A New View of its Causes and Consequences, Chicago: Ivan R. Dee, ; If you are the original writer of this essay and no longer wish to have the essay published on the UK Essays website then please click on the link below.
Check out our cause and effect essay samples to understand how to write an essay of this type on your own. Causes of the Great Depression Beginning in the United States, the Great Depression was a worldwide economic depression.