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The Great Depression

Great Depression.jpg

The Great Depression was a devastating economic crisis that afflicted the United States and much of the world during the 1930s. Triggered by the stock market crash of 1929, the Great Depression was marked by widespread unemployment, severe poverty, and a sharp decline in industrial production and economic activity. The crash shattered the illusion of a prosperous and invincible economy and exposed the vulnerabilities of the financial system. Significant events during this period included the Dust Bowl, a severe drought that struck the Midwest, exacerbating the economic woes, and the New Deal, a series of government programs implemented by President Franklin D. Roosevelt to alleviate the suffering and restore the economy.

One of the most significant factors contributing to the Great Depression was the speculative frenzy that had gripped the stock market in the 1920s, leading to an unsustainable bubble. When the market collapsed on October 29, 1929, known as "Black Tuesday," it set off a chain reaction of bank failures, job losses, and a contraction of credit. The depression's impact was felt globally, with economies around the world spiraling into recession. Prominent figures like President Roosevelt implemented the New Deal, a comprehensive series of programs aimed at providing relief, recovery, and reform. The New Deal included initiatives such as the Civilian Conservation Corps (CCC), the Works Progress Administration (WPA), and Social Security, all of which aimed to stimulate economic growth and provide support to struggling individuals and families.

The Great Depression's effects were profound and far-reaching. It brought about lasting changes in the way governments approached economic policy and regulation. The New Deal's reforms laid the foundation for modern social safety nets and increased government intervention in the economy. The experience of the Great Depression also left a lasting impact on the American psyche, fostering a sense of caution and a focus on financial security for subsequent generations. It reshaped cultural and artistic expressions of the time, influencing literature, music, and art. Additionally, the Great Depression underscored the importance of maintaining a stable financial system, leading to the establishment of regulatory measures and financial safeguards to prevent a similar catastrophe in the future.

 

Additional Resources:

 

The Great Depression

 

 

The Great Depression and World War II (1920-1945)

 

Great Depression and New Deal: A General Resources Guide

 

The Great Depression 1929-1940

 

BOOKS:

·  "The Great Depression: A Diary" by Benjamin Roth

·  "The Worst Hard Time: The Untold Story of Those Who Survived the Great American Dust Bowl" by Timothy Egan

·  "The Great Crash 1929" by John Kenneth Galbraith

·  "America's Great Depression" by Murray N. Rothbard

·  "The Forgotten Man: A New History of the Great Depression" by Amity Shlaes

·  "The Depression Comes to the South Side: Protest and Politics in the Black Metropolis, 1930-1933" by Christopher Robert Reed

·  "A Square Meal: A Culinary History of the Great Depression" by Jane Ziegelman and Andrew Coe

·  "The Great Depression Ahead: How to Prosper in the Crash Following the Greatest Boom in History" by Harry S. Dent Jr.

·  "Hard Times: An Oral History of the Great Depression" by Studs Terkel

·  "The Making of Global Capitalism: The Political Economy of American Empire" by Leo Panitch and Sam Gindin

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