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Explore the Great Depression in the United States, 1929-1941. What were its root causes? What were the specific events that led to financial collapse? How did the government first react to the situation? Who offered an alternative? What did he propose? How successful was he, and did anyone object to his policies? In the end, what ended the Depression, and why?
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The Great Depression
An economic recession in August 1929 marked the onset of the Great Depression in America
(Saint-Etienne n.p.). The recession was initially mild, and minimal effects were felt. Nonetheless,
two months later, the Wall Street Crash had overarching effects of the global economy, and
almost every region started feeling the impact of the economic downturn. It was characterized by
deflation, poverty, unemployment, stagnation in personal development, and low profits in the
business of the time. Most of the issues and factors that heightened the gravity of the depression
remain uncertain and fiercely debated.
There are, however, some factors believed to have been the root causes of the depression.
First, the stock market crash is debated as one of the root causes because while some people hold
that it had an effect on the ensuing depression, others believe that it is one and the same thing
with the depression. Notably, this crash was different from the actual depression. It is the loss
that investors and organizations faced in this crash that paved the way f...
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