America's Great Depression

Paper Summary:

Discusses the social and economic problems resulting from the 1929 stock market crash which led to the Great Depression. What went wrong with the American economy & its underlying weakness at the time of the crash. Political ramifications including widening gulf between Democrats & Republicans regarding government responsibility to its poor citizens. President Franklin D. Roosevelt's New Deal legislation to help the unemployed, create system of social security for workers. Accomplishments of the New Deal.

From the Paper:

"The Great Depression: American Watershed


When the Roaring Twenties came to an unpleasant end with the Wall Street Crash and resultant unemployment, poverty, and the failure of businesses and banks, the Great Depression made one thing very clear: unchecked Capitalism cannot survive without the danger of serious economic consequences.


Many Americans, until the end of the Twenties, thought that getting rich was the solution to everything. There were the rich and the super-rich, and those wanting to be rich. And then, in 1929, on that Black Friday, America would collapse down into somber reality. Worthless stocks couldn't buy bread. America the greedy, in 1929, turned into America the needy.


There are many people who still today tend to blame Herbert Hoover for causing the depression. This is simply not accurate."

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