The Great Depression was the most catastrophic event in U. It not only crippled the economy, but stunted political and social aspects of American life as well. Before the Depression, the twenties roared. The previous decade flourished after the slight recession following World War I, but overall made for a hopeful future. People celebrated the end of the war by spending money and enjoying all that life had to offer.
Many things lead up to it, but one of the main ones was the stock market crash. People believed that the stock market was as stable as could be, but it was very inflated and it crashed. People invested a lot of their savings into stocks as what was considered a smart move, yet as corporations reached their limit. The causes of the Great Depression in the early 20th century is a matter of active debate between economists. As these events transpired the state of economic. The American economic crash of spiraled into disaster leading into the Great Depression of the s. What caused the Great Depression has been an ongoing debate where economists, historians and even politicians cant agree on.
Tons of paperwork land on your head in whatever educational establishment you study. Here is the history in brief to save your time but for the better result, it would be wise to study the topic deeper independently. The Great Depression is a worldwide economic crisis that erupted in and lasted for 10 years. It captured the territory of the USA and leaked to all facets of social life.
Causes of Great DepressionThe economists and historians have not been able to reach an agreement regarding the causes of the depression. Most of them argue that the extensive stock market speculation was the major cause of depression. However they differ in the magnitude of effect of stock-market crash on the great depression.