Unemployment increased since industries could not take employees anymore. They could not afford to pay the people what they deserved.
Research shows that at least a fourth of the labor force in all the industrialized countries could not work anymore Martin The industries could not satisfy them in terms of wages.
This was noticed in , and the total recovery was only realized by the end of that decade. End of international gold standard. The Great Depression is seen as a cause of international gold standard.
There was no money to invest anymore, and it was evident that the interest rates went down too. There was also the introduction of floating rates, and people stopped using the fixed exchange rates. On the other hand, there was an expansion of the welfare state and labor unions in Union membership went to an extent of doubling between that year and This was a result of extreme unemployment and the National Labor Relations Act which was passed in All this led to collective bargaining.
The US took an extra mile of coming up with unemployment compensation. This was incorporated in the Social Security Act the same year. Its aim was to cater for the hardships that the citizens were going through in The rate at which the government regulated the economy increased substantially. The focus was mostly on the financial markets. Different bodies to carry out this function were established. These included the Securities and Exchange Commission which was established in The main role of these institutions was to control and regulate stock issues in the stock market, especially with regard to the new products.
The Banking Act went ahead to come up with deposit insurance, whose role was to work with the banks by prohibiting them from underwriting. Deposit insurance was not so popular in the world up to the Second World War. This time it was able to work effectively, hence achieving its mission and objectives. Growth of macroeconomic strategies. The aim of the latter was to fight the economic upturns and downturns.
As a matter of fact, different strategies were established to fight the Great Depression. An increased focus on how the government spend, tax cuts, and expansion of the monetary fund were some of the ways to fight the the phenomenon under consideration.
The government was also trying to work to its best so as to fight unemployment. The banks were also working against recessions. Homelessness, discrimination and racism. Many people had lost their jobs and it became even hard to get rent for their houses. They had to move to shanty areas which also were not very affordable. Others could not afford anything to cover their heads. This led to building the Hoovervilles. Since so many people were unemployed, there was a huge competition in the job market.
Very few could get jobs, and those who did were not paid according to what they delivered. Under the circumstances, discrimination grew and African Americans could rarely get a job. Racism was an issue at that time. Americans were more aggressive as they noticed that there were shrinking opportunities to get a position. This is because of the discrimination and racism that were going on.
Again, the whites were claiming the jobs which were paying poorly, hence occupying the opportunities that these minorities had before Hoovervilles. It is evident that in any country there are different levels of people as far as their income is concerned. Where people live is different depending on what one eats. The lifestyle generally depends on what the person earns….
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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 in , many 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.
If anything, this estimate is low. The homeless rate increased dramatically. So much so that many people did not even have a roof over their heads. The majority of homeless people had nothing at all and the minority made shacks on vacant land: Women played a new role during this time. When a man lost his job and was having difficulty locating a new one, it was up to the women to work. Worldwide, in about one-third of all workers were women.
There was also, however, the more immediate problem of what to do about the people who were unemployed and needed assistance merely to survive. Whether efforts to aid the unemployed would help to end the depression or make it worse was a matter of risk-taking. Another way to solve the unemployment problem was to export people to other countries that had available jobs so that people could survive. I do not think the Great Depression could have been avoided: There is no way of telling when or if the next depression will occur.
I feel if the governments worked together then the depression would not have been such a catastrophe as it ended up being. Did the nations not know that they influenced the course of the depression and in turn, the course of history. Another reason why the depression lasted so long was because politicians were so busy in pointing fingers at each other instead of resolving it.
Who knows how long the depression would have lasted if World War II never came to be. Lost them through foreclosure when cotton prices fell after the war. Became tenants and sharecroppers. With the drought and dust they came West, Never before left the county where they were born.
Now although in California over a year they haven't been continuously resident in any single county long enough to become a legal resident. Source Drought refugees near Holtville, California. Source Lincoln Brigade Ambulance Corps. The Spanish Civil War was the great international cause of the s. Aided by Hitler and Mussolini, the Spansih military led a revolt against the progressive elected government. About 3, Americans volunteered to fight on behlaf of the Spanish Republic.
Tattered communities of the homeless coalesced in and around every major city in the country. Source Squatter makes coffee in kitchen at his home in abandoned warehouse, Caruthersville, Missouri. Source Members of the picket line at King Farm strike.
In contrast to a frequently racist society, several unions were militantly integrationist. Source Power farming displaces tenants. House was built of scrap material in vacant lot in Mexican section of San Antonio, Texas. Source Mexican woman arranging things in her shack home. Source Relief line waiting for commodities, San Antonio, Texas. Source Man in hobo jungle killing turtle to make soup, Minneapolis, Minnesota.
Source Selling apples, Jacksonville, Texas. Many tried apple-selling to avoid the shame of panhandling. In New York City, there were over 5, apple sellers on the street. Source Young boys waiting in kitchen of city mission for soup which is given out nightly. For millions, soup kitchens offered the only food they would eat.
Source Durham, North Carolina, May Source Yabucoa, Puerto Rico. Strikers near the sugar mill. In the mill village at the sugar mill. Bud Fields and his family. Squatter's Camp, Route 70, Arkansas, October, Philipinos cutting lettuce, Salinas, California, Roadside stand near Birmingham, Alabama, Farmer and sons, dust storm, Cimarron County, Oklahoma, Migrant pea pickers camp in the rain.
In one of the largest pea camps in California. The photograph that has become known as "Migrant Mother" is one of a series of photographs that Dorothea Lange made in February or March of in Nipomo, California. Dorothea Lange's "Migrant Mother," destitute in a pea picker's camp, because of the failure of the early pea crop. Freight car converted into house in "Little Oklahoma," California. Demonstration of unemployed, Columbus, Kansas.
A sharecropper's yard, Hale County, Alabama, Summer Porch of a sharecropper's cabin, Hale County, Alabama, Summer Part of an impoverished family of nine on a New Mexico highway. Squatter camp, California, November During the Great Depression, unemployment was high. Strikers guarding window entrance to Fisher body plant number three.
Toward Los Angeles, California. Waiting for the semimonthly relief checks at Calipatria, Imperial Valley, California.
The Great Depression was horrendous, no other panic or depression that taken place before can add up to the economic and social devastation that The Great Depression inflicted. However before the Great Depression even happened there was a Bull Market boom.
Essay on The Causes and Consequences of the Great Depression The Great Depression was a long-lasting economic crisis in the global economy which started in .
The great depression is an immense tragedy that took millions of people in the United States from work. Read full The Great Depression essay. The Great Depression and the New Deal Essay - Great Depression The Great Depression and the New Deal In response to the Stock Market Crash of and the Great Depression, Franklin D. Roosevelt was ready for action unlike the previous President, Hubert Hoover. Hoover allowed the country to fall into a complete state of depression with his.
The Great Depression was the worst and longest economic downturn in the history of the world economy. The Depression began in and lasted until This economic meltdown affected Western industrialized economies but its effects spread across other nations. The deflation stemmed from the collapse of the banking system, as explained in the essay on the banking panics of and Essays on the Great Depression. Princeton: Princeton University Press, Bernanke, Ben.