1920s and the Great Depression

If we approach an economic depression as bad as the Great Depression, all the plans created by the New Deal will create a safeguard for our country. Because the social security law provides retirement money to the elderly, they do not work, but they are alive. FDIC makes sure that our account will not disappear and FERA is implementing a relief program for those in need. Overall very positive

When the Great Depression struck, no one was there. The economic inequality of the 1920s made the Great Depression very serious. Most of the riches in this country are in the hands of a few people. Paul Brandhard mentioned people's hardships. He explained how it would be to live at 46 cents a day (Document 7). By contrast, the local newspaper showed advertisements for ships worth $ 10,000. Were yachts made by Gar Wood arbitrarily advertised as a cause of sandstorms? One of the most popular books in the United States is John Steinbeck's "The Grapes of Wrath". The book depicts Joaades, a family who left Oklahoma and traveled to California in search of a richer life. Steinbeck's books are acclaimed by critics and the American masses. This story resonated with the American people, as Steinbeck really caught the anxiety and broken heart of the directly affected people.

Some people do not agree, but there is increasing evidence that the actions of the US economy in the 1920s did not lead to the Great Depression. The depression in the 1930s was not "retaliation" for prosperity in the 1920s. The weakness of some economic sectors in the 1920s did not predict contraction from 1929 to 1933. Beginning in the 1920s and restarted after the Second World War, economic growth was hindered by the 1930s and the recession of the Second World War. True economic growth and progress were also like the construction of skyscrapers that began in the 1920s began again in the 1950s. In retrospect, in the 1920s the introduction and expansion of new technologies and industries such as automobiles, home appliances, radio, electricity, etc. were seen, and in the 1990s we responded to the expansion of personal use and development. . The rise of computers and the Internet

History has tested the popular economic theory of the 1920s and 1930s, and these theories did not pass the test. The economic imbalance and orthodoxy of the 1920s led to the Great Depression, which in turn opened the door to Nazism and war. Economic theorists, and more importantly, economic policy makers ignore this experience that poses great risk to the world.