Introduction A worldwide depression struck countries with market economies at the end of the 1920s. Although the Great Depression was relatively mild in some countries, it was severe in others, particularly in the United States. It was, without a doubt, the longest and most severe economic downturn in American history. Widely held to begin with the stock market crash of 1929, the Depression lasted until the advent of American involvement in World War II. Unemployment skyrocketed during the Depression years, reaching levels as high as one third of the population. Output shrank tremendously, falling by ten percent a year from 1929 to 1932. Nearly half of the commerical banks of the United States failed during the Depression. Crop prices fell by over fifty percent. People went hungry because so much food was produced that production became unprofitable. Others were unemployed because they had produced more than could be sold. Huge numbers of Americans had their lives upset by the Depression. Tens of thousands of migrant farm workers travelled the nation looking for employment. Homelessness, poverty and general despair characterized much of the nation. In this paper we will discuss how the Great Depression started, what were the causes of it. We will also analyze different economic views on the Great Depression. At the end of the paper we will define the turning point and see how it went to recovery. Of course it had several effects and consequences, some of which we would discuss in the course of this paper.
Introduction Start of the Great Depression Causes of the Great Depression Different Views of the Great Depression Turning point and recovery Effects of the Great Depression Conclusion Literature
Literature 1. Bernanke, Ben. Essays on the Great Depression (Princeton University Press, 2000) 2. Kennedy, David. Freedom from Fear: The American People in Depression and War, 1929-1945 (1999) 3. История США . Т. 3, 1918 - 1945 / Под ред. Г. Н. Севостьянова. -- М.: «Наука», 2005. 4. http://en.wikipedia.org/wiki/Great_Depression
http://history1900s.about.com/od/photographs/tp/greatdepressionpictures.htm - дополнительные фото этого периода