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Chapter 12 causes of the great depression
Wall Street crash of 1929
Wall Street crash of 1929
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Recommended: Chapter 12 causes of the great depression
The United States Stock Market
In the world today, people buy and sell to make a living. The American stock market is a great example of what it is like to buy and sell. The saying of the stock market is “buy low, sell high”. That means you buy a stock at a low price and sell it when it gets to a high price. There are two main stock exchanges. The American Stock Exchange and Nasdaq. They are what most people basically trade on.
Basically the first major incident in the stock market was the Great Depression. The year of 1929 began a time period of horror in America. It was the beginning of the great depression. A time in which many lost their jobs became homeless, and went hungry. Many people had to live off the nutrition of weeds or some worked fifty - five hours and only earned seventy - five cents. The cause of the depression was the stock market crash of 1929 known to investors as Black Tuesday. Black Tuesday is said to be the most shocking financial event in the history of the United States. Not only did the stock market prices drop drastically but the business world was brought down with it. Inflation also rose because of the crash. The crash that occurred on October of 1929 caused Americans to lose Thirty billion dollars and the American dollar value was 90% less than it was prior to October of 1929. Wholesale and retail food prices dropped 40% and farm prices dropped over 60%. About four million families were left unemployed and on relief support only receiving fifteen dollars a month. Because of the crash the government was required to set new regulations regarding stock market trade. The reason for this was to attempt to prevent another stock market crash from happening in the future. The depression brought about many problems not only did people have to worry about unemployment they also had to worry about crime. Many Americans tried to get easy money by taking part in robberies kidnappings and murders. In 1935 criminals out numbered carpenters four to one, grocers six to one, and doctors twenty to one. In the mid west, crooks with shotguns and Tommy Gun were a common thing. In large cities the criminals were making money off of extortion, prostitution, and auto theft.
GREAT DEPRESSION TIMELINE
The stock market crash of 1929 was the primary event that led to the collapse of stability in the nation and ultimately paved the road to the Great Depression. The crash was a wide range of causes that varied throughout the prosperous times of the 1920’s. There were consumers buying on margin, too much faith in businesses and government, and most felt there were large expansions in the stock market. Because of all these positive views that the people of the American society possessed, people hardly looked at the crises in front of them.... ...
Through temptation and torture, Odysseus never forgets that he must put others’ needs before his own desires. Like a hero, Odysseus has to sacrifice the options that benefit him in order to benefit his others. Specifically, Odysseus accepted the fact that he laid with Kirke in order to free his men from her spell. Though it went against all of his ethics and unfaithful to Penelope, Odysseus’s main objective was to return home with all of his crew alive. He illustrates his true loyalty to Penelope when he declines Kalypso’s offer of immortality. Odysseus immediately responded and refused Kalypso’s offer: “My lady goddess…come (Book V, 223-233).” Many individuals would not decline immortality, but he did not ponder over the thought of living for eternity. Odysseus made this decision based on his ethics and because of true love. Odysseus also makes ethical decisions to save people’s lives. For instance, ...
Even before the eve of the Revolution, the colonists constantly had the image of independence lingering in the back of their heads. The colonists felt that they were first on a loose leash, and as that leash tightened over the years, the colonists began to understand their true culture and identity. As time passed, the colonists developed a greater sense of their identity and unity as Americans and by the eve of the Revolution, even though at first the colonists were unorganized and had problems with being united, they remained determined to gain their identity and unity as Americans.
During 1928, the stock market continued to roar, as average price rose and trading grew; however as speculative fever grew more intense, the market began to fall apart around 1929. After the stock market crash, a period began that lasted for a full decade, from 1929 to 1939, where the nation plunged into the severest and the most prolonged economic depression in history - the Great Depression. During this inevitable period, the economy plummeted and the unemployment rate skyrocketed due to poor economic diversification, uneven distribution of wealth and poor international debt structure.
Thomas Hobbes and Jean-Jacques Rousseau have very different views on the social contract largely based on their fundamental views of the state of nature in humanity. These basic views of natural human nature cause Hobbes and Rousseau to have views on opposite sides of the spectrum, based on two controversial speculations, that human is inherently good or that human is inherently inclined towards egotism and perpetual insecurity. Due to his belief that they are of this nature, Hobbes viewed an all-powerful sovereign of a rather totalarianistic nature to be necessary. Rousseau on the other hand, viewed that the sovereign should represent the common will of the people, the sovereign being agreed upon by all constituents. It is my assertion that Rousseau’s argument, although flawed in its own ways, is superior to Hobbes in that it has an answer for the inequalities that may arise in a society by Hobbes’ princples.
Locke expressed the ideal that men are created equal and nevertheless men will flourish with independence and freedom, “no one having more than another” (Locke 101). In this way, Locke believes that an individual should have the capability to find happiness through equality and human freedoms. Even with these naturally positive and good qualities, Locke believes that there are potential for bad tendencies within man. With this possibility for negative attributes, a government is essential to protect them from themselves and to guarantee that equality will prosper. He introduces the main ideas that govern a community, “Life, Liberty and Property” (Locke 101). These are the freedoms that every individual within the community should have, and the government should follow these rights because mankind is naturally good. Hobbes opposes this view and believes that men are naturally immoral and base actions on personal desires rather than the greater good. Hobbes expresses, “So that in the nature of man we find three principal causes of quarrel: first, competition; secondly, diffidence; thirdly, glory” (Hobbes 99). These three principles are the reasons for confrontation, and they are also inevitable. Men act on their desires for wealth and power and also create enemies. In his work Leviathan Hobbes explains that “from [man’s] equality of ability arises equality of hope in the attaining of
Hobbes and Locke argued that people mainly formed a state for different reasons according to their ideology. Hobbes mentioned that humans only formed a state for their mere self interest to protect themselves from the wrath of others. In contrast Locke had a more positive perspective that individuals believed it was moral to form a state to protect their natural rights and would not be deprived from their rights. In Leviathan, Hobbes asserts, "Conferre all of their power and strength upon one Man, or upon one assembly of men, that may reduce all of their Wills, by plurality of voices," (Locke, 95). Comparing the statement of Hobbes with Locke is the following, “It is not, nor can possibly be absolutely arbitrary over the lives and fortunes of the people," (Locke, 70). Both theories on the sovereign power relates to the human nature. For example Hobbes’s believes that humans need a strong authority to protect citizens from each other and outside forces, which is why the sovereign has absolute power. Critiquing Locke 's perspective he mentions that the people in state of nature live in peace and tranquility amongst each other setting moral limits without having a sovereign (central
Power has been defined as the psychological relations over another to get them to do what you want them to do. We are exposed to forms of power from the time of birth. Our parents exercise power over us to behave in a way they deem appropriate. In school, teachers use their power to help us learn. When we enter the work world the power of our boss motivates us to perform and desire to move up the corporate ladder so that we too can intimidate someone with power one day. In Joseph Conrad’s Heart of Darkness Kurtz had a power over the jungle and its people that was inexplicable.
In many ways Hobbes and Locke’s conclusions on man and society create a polarizing argument when held in comparison to each other. For instance the two make wildly conflicting assertions concerning mankind’s capacity to foster and achieve organized society. Hobbes asserts humans cannot be trusted to govern themselves lest they fall into war and chaos; Locke, on the other hand concludes almost the exact opposite. Despite the polarity in each man’s train of thought, both philosophies share a common ancestor: a state defined by total equality where no human is superior or holds dominance over another. Although this is the base of both theories, it is the only similarity between the two. This commonality can be illustrated when tracing each argument deductively from their conclusions, the comparison reveals that the heaviest and most base opposition in each mans philosophy is his assertions regarding the nature of human beings.
The stock market is a centralized area where buyers and sellers comes together to perform stock transaction. When one thinks of the stock market, the first thing comes to mind is Wall Street which is sometimes referred to as the New York Stock Exchange as well as the NYSE.
...ns. Hobbes, insist that the nature of mankind is a state of savagery if left to its own device and the amalgamation of people under the confines of law allows people to seek the peace they thirst for. On the contrary Rousseau advocates that people are a naturally social species, and the submission to a greater good of the community by parting with their born rights is paramount to the superfluidity of the society. Both essentially agree that giving up natural right for the civil liberties within the state is a necessary exchange for the preservation of both the individual and the state itself.
Both philosophers agreed that humans are naturally self-interested, however, Rousseau fails to understand the concept that there are insufficient resources for every human and that brutal competition is part of survival. When discussing Rousseau’s theory on the corruption of society, an interesting question arises. If humans are naturally so good, then how could society be so evil? Hobbes would argue that society is what keeps human nature stable by the use of sovereign power, laws, and the authority to regulate people’s actions. Without society, corruption would continue and people would have absolute freedom to do what they please, which would cause more fear. According to Hobbes " The notions of right and wrong, justice and injustice, have there no place. Where there is no common power, there is no law; where no law, no injustice" (Hobbes-79). Ultimately, life is better when humans are a
Hobbes, Locke and Rousseau all agree that humans are born equal in the state of nature, and like Locke, Rousseau also believes that the state of nature is a happy one, with optimism towards human nature. He believed that people were only concerned with survival instincts and reproduction, like sleeping, eating, and having sex. Hobbes saw this state of nature as brutal and a constant state of war, while Rousseau argues that it reaches this point when societies develops and population grows, so do people's needs. People start living together in families then small small communities, then they start acquiring properties and the propertyless works for those property owning in...
Power is the ability to control or influence others, especially socially or politically. We often hear of the horror stories, in which corrupt dictators with too much power kill innocent citizens, eliminate all competition, and hurt others for personal gain. Power itself is not necessarily the bad thing here; it comes as an instinctive need to humans, rooted in the primal purpose of survival (Anchor text). The abuse of power leads to corruption. Power is an unstable force that can have positive or negative outcomes, depending on why it was sought and the attitude of those on the receiving end of the control.
Like the types of leadership, the choice of which power to use is highly situational. There are six basic types of power: