Philadelphia and the Great Depression

Paper Summary:

In this paper, it is shown that the effects of the Stock Market Crash of 1929 were a major crisis for Philadelphia which became an epicenter for the homeless and unemployed as the greed of big business and banking had destroyed the economic foundation of the country. The paper shows, however, that political leaders and government helped to forge greater laws that would help protect citizens from corporate greed and helped to solve the problem of high unemployment after nearly 10 years.

From the Paper:

"This historical study will examine the economic dynamics of the Great Depression within the city of Philadelphia. By understanding the city's economic and societal problems, as well as the political measures to correct impoverishment in this era, one can realize the governmental measures that were taken to solve this problem. By analyzing the scope of the Great Depression in this microcosm, the other larger aspects of federal intervention can be examined in relation to Philadelphia's attempts to resolve this major crisis in American history. After the Stock Market Crash of 1929, the federal government was a key factor in dealing with major cities, which had excessive unemployment. The city of Philadelphia, along with other major east coast cities, was the target for Roosevelt's plans to begin constructing government regulations on labor and big business."

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