The Great Depression During World War I - 1943 Words

The 1920’s in American history, characterized by its social, artistic and cultural vitality, and is known as the roaring twenties. The U.S. economy was the largest industrial in the world, thus it provided significant help to European nations that experienced debt after World War I. Throughout this prosperous era, many rich Americans made large profits from businesses that they owned. A majority of Americans started to spend more money than they earned which would inevitably lead to major problems in the future. On October 29, 1929, which is known as Black Tuesday, the stock market crashed. The Great Depression began and proved to be a worldwide phenomenon. Domestically as well as internationally, the dramatic effects of the depression worked as a domino effect as all banks and other businesses fell almost instantaneously. Through the use of these two documents which are being used from Shi and Mayer, For the Record; â€Å"Two Views of the Great Depression†, and †Å"Letters to the Roosevelt’s this paper will address and assess the effects of the depression from eyes of the everyday American who experienced this depression first hand. Throughout the 1800’s the nation was a rural, agrarian society, isolated from the rest of the world since the days of independence.[1] Industrialization was never a major concern at this time. During the next century the way people started to think changed drastically. After World War I the economy around the world plummeted. ImmediatelyShow MoreRelatedThe Great Depression During World War I Essay2238 Words   |  9 PagesAfter the Great War (1914-1919) came the â€Å"Roaring Twenties† followed by the Great Depression (1929-1939). After World War I America experienced the greatest economic growth in its history. Its economic expansion was due to how undamaged it was after the war. It became the richest country in the world at that time. The people enjoyed life as it were back then until the US experienced the largest economic downturn in history when the Stock Market crashed on 29th October 1929. It began in the summerRead MoreThe Great Depression During Wo rld War I And Industry1354 Words   |  6 Pages The great depression was an economic recession in America that spanned between the years of 1929-1939. Although this was sparked by the stock market crash on October 29, 1929, there were several long term causes, most prominently, the decline of both the agricultural industry post World War I and industry. After the end of the first World War, food demand decreased 40% internationally, leading to a decrease in farmers’ profits. 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Not only did we discuss the war, but we also looked at the impact it had on AmericanRead MoreAmerican Foreign Policy After The Great Depression1390 Words   |  6 PagesAmerican foreign policy completely shifted from the Isolationism to Interventionism for valid reasons. First the economic and socially challenging home front crisis of the Great Depression kept American citizens and politicians busy with domestic policy. Additionally the disillusionment of people with WWI caused America to avoid war at all costs. However, the rising threat of fascism in Europe forced America to defend democracy and help its allies. The first shift was seen when foreign policy in the