FratFiles

• Save Paper

The economic depression that beset the United States and other countries in the 1930s was unique in its magnitude and its consequences. At the depth of the depression, in 1933, one American worker in every four was out of a job. In other countries unemployment ranged between 15 percent and 25 percent of the labor force. The great industrial slump continued throughout the 1930s, shaking the foundations of Western capitalism and the society based upon it. Economic Aspects President Calvin COOLIDGE had said during the long prosperity of the 1920s that "The business of America is business." Despite the seeming business prosperity of the 1920s, however, there were serious economic weak spots, a chief one being a depression in the agricultural sector. Also depressed were such industries as coal mining, railroads, and textiles.

Throughout the 1920s, U. S. banks had failed--an average of 600 per year--as had thousands of other business firms. By 1928 the construction boom was over.......

View the rest of this paper...

Approximate Word Count: 1301
Approximate Pages: 6 (250 words per double-spaced page)

Similar Essays

1. The Great Depression Of The 1930s
   

   The Great Depression Of The 1930s The economic depression that beset the United States and other countries in the 1930s was unique in its magnitude and its consequences. At the

2. The Great Depression Of The 1930s
   

   The Great Depression of the 1930s The economic depression that beset the United States and other countries in the 1930s was unique in its magnitude and its consequences. At the

3. The Great Depression
   

   the great depression The Great Depression of the 1930s in Canada The Great Depression of the 1930's is a benchmark for all depressions and recessions in the past and in the

4. Great Depression Of 1929
   

   Great Depression of 1929 The Great Depression was a worldwide economic downturn which started in October of 1929 and lasted through most of the 1930s. It began in the United

5. Great Depression
   

   great depression The Great Depression is probably one of the most misunderstood events in American history. It is routinely cited, as proof that unregulated capitalism is not the