The Great Depression: Causes and Outcomes
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This paper describes the causes and outcomes of the Great Depression which is much more different than similar to the current economic situation although lessons learned from this earlier period can be applied today. Next, the author relates that the Great Depression was caused by poor governance, irrational investing and a series of ill-conceived policies; whereas, the greatest outcome was the development of a regulatory framework for the banking industry. The paper underscores the importance of regaining consumer confidence to help turn around this type of economic depression.
Table of Contents:
Table of Contents:
From the Paper:"The Securities Exchange Commission was created in response to the view that the stock market crash had contributed too much to the Great Depression. The excessive use of margin had encouraged speculation. Poor governance on the part of banks and brokerages allowed for a market failure where investors were not making rational decisions, resulting in a bubble.
"A variety of new taxes were created to offset Roosevelt's social programs. The American psyche had been scarred by the abject poverty of such a wide proportion of the population."
Sample of Sources Used:
- No author. (1929). Wall Street Hums on the Day of Rest to Catch up at Work. New York Times. Retrieved April 23, 2009 from http://www.nytimes.com/library/financial/102829crash-sunday.html
- No author. (1929). Stocks Collapse in 16,410,030 Share Day, but Rally at Close Cheers Brokers; Bankers Optimistic, to Continue Aid. New York Times. Retrieved April 23, 2009 from http://www.nytimes.com/library/financial/103029crash-lede.html
- Salesman, Richard M. (2004) "The Cause and Consequences of the Great Depression, Part 1: What Made the Roaring '20s Roar" The Intellectual Activist .
- Carter, Susan. (2006). Historical Statistics of the US: Millenial Edition. Retrieved April 23, 2009 from http://www.hyperhistory.com/online_n2/connections_n2/depression9.html
- Wilson B. Brown and Jan S. Hogendorn. International Economics: In the Age of Globalization. Retrieved April 23 from http://www.google.com.au/books?id=5SoP6KUDwY4C&pg=PA246&dq=smoot+hawley&sig=GplUGJBCti3Tv3XN2saPicP5Lsw
Cite this Analytical Essay:
The Great Depression: Causes and Outcomes (2011, October 12) Retrieved February 07, 2023, from https://www.academon.com/analytical-essay/the-great-depression-causes-and-outcomes-148358/
"The Great Depression: Causes and Outcomes" 12 October 2011. Web. 07 February. 2023. <https://www.academon.com/analytical-essay/the-great-depression-causes-and-outcomes-148358/>