The Impact Of Capitalism In The Great Depression

INTRO: The poor gets poorer, and the rich gets richer. Economically speaking, this is the truth about Capitalism. Numerous people agree that this inequality shows the greedy nature of humankind. The author of the source displays a capitalist perspective that encompasses an individualist approach towards an “un-ideal” economic system. The source articulates a prominent idea that capitalism is far from perfect. The reality is, as long as capitalism exists, there are always those people who are too poor or too rich in the system. We do not need elitists in our society but that is exactly what capitalists are. In this society, people are in clash with those who “have” and those who “have not”, which creates conflict and competition. Throughout

No, the Great Depression was not caused by capitalism, but without capitalism, the period of the depression would have been meaningless. The idea of “depression” was framed within a capitalist economic system. The capitalist perspective played an increasingly prominent role in the system throughout the world, contributing mostly in the Great Depression. It created the conditions wherein the Great Depression became what it is. Its effect was remarkable because the currency and the money they used were gold. By the time that Roosevelt started, he took most of the gold – emphasizing self-interest – that lead to people becoming impoverish, and obviously can no longer use the gold pieces. The stock market was full of investors who were interested in investing gold but since Roosevelt took most of it, their money was useless. This caused an increasing conflict affecting the stock market, causing it to collapse and whereabouts of missing money which triggered the rising of the Great depression. In addition, capitalism was obviously one the bases that caused money to disappear which in effect, stimulated a lot of citizens to became underprivileged involving many people from communities, causing them to be poor. It is evident that laissez-faire capitalism is seen in the light, which cuts government expenditures, lowers taxes on the rich, and anticipates higher taxes on the middle, and lower working classes. This notion stresses the elite of an increase in production, purchasing of new machineries (lowering the amount of workers needed), and most importantly to use the tax breaks to spend for themselves, inferring a lower wage. This shows that the “rich gets richer, and the poor gets poorer” principle, indicating the poor as the working class. One could infer that the unequal distribution of wealth during the Great