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Essay / The Great Depression - 562
The Great Depression is one of the longest and most serious economic hysterias experienced by the Western industrialized world. During the Depression, the political, economic, and social institutions of the United States were in poor condition. The government, various groups, and individuals sought ways to solve the problems Americans were facing. The Great Depression, which began in the United States and later engulfed nations around the world, broke out across the industrialized Western world and triggered the largest stock market crash in history. The fundamental weakness and contradictions of the global economy were the real cause of the Great Depression. The international economy was in ruins due to the cost of the war and the American economy suffered indirectly; However, October 29, 1929 marked the official start of the Great Depression due to the stock market crash of 1929. Paper fortunes were gone, but money was the foundation of American life. People usually took out loans from banks to be able to start a business, but because of the depression, they took out loans to have more money....