Great Depression Dbq

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The Great Depression, starting with the infamous stock market crash of 1929, represents the most severe economic downturn in the history of the United States, lasting through the 1930s. It was marked by massive financial collapses, mass unemployment, and widespread poverty. In response to this unprecedented crisis, President Franklin D. Roosevelt introduced the New Deal, a series of programs and policies aimed at providing relief, promoting economic recovery, and implementing reforms in order to prevent future depressions. Understanding the Great Depression and the New Deal is crucial for understanding the dynamics of economic policy and government intervention, and their profound long-term impacts on American society. The Great Depression …show more content…

For example, protectionist policies such as the Smoot-Hawley Tariff Act of 1930 significantly reduced international trade, worsening global economic conditions. Douglas A. Irwin explained, "The Smoot-Hawley Tariff Act of 1930 raised U.S. tariffs to historically high levels, leading to retaliatory tariffs from other countries and a significant decline in international trade." Consequently, "Global trade fell by nearly two-thirds between 1929 and 1934, exacerbating the economic downturn worldwide." Also, post-World War I economic disruptions, including war debts and reparations, strained European economies and contributed to the global financial instability. Charles P. Kindleberger highlighted that "The reparations imposed on Germany after World War I and the interlinked war debts among European nations created a fragile financial system that was vulnerable to economic …show more content…

This came along with many policies and groups. Such as. The Federal Emergency Relief Administration (FERA), FERA was established in 1933 to provide direct relief and job creation programs for the unemployed, distributing over $3 billion during its existence. As well as the Civilian Conservation Corps (CCC), The CCC created jobs for young men in conservation and public works projects, employing over 3 million young men between 1933 and 1942. Including the Public Works Administration (PWA), which funded large-scale infrastructure projects to stimulate economic growth and employment. There were also new measures being put in place to prevent future depressions. The most prominent of the bunch was the Social Security Act, establishing a system of old-age pensions, unemployment insurance, and welfare benefits. Along with the Securities Exchange Act, creating the Securities and Exchange Commission (SEC) to regulate the stock market and prevent

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