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Stock market crash of 1929
Critically discuss the reasons for the 1929 wall street stock crash as well as the economic and social impact of the crash in USA
Stock market crash of 1929
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Fashion trends, fashion houses, fashion designers, and this career field as a whole were affected by the Great Depression. According to Overview 3.0: Fashion During the Depression, the fall of New York's stock exchange in the late 20's caused the Great Depression which made the couture houses decrease in size.In France, another major change included ten thousand employees in this career field losing their jobs. A trend during this time was fashions that showed off the back originating from actresses(SNHU, 2017). According to 100 Ideas That Changed Fashion, in the 30's, this event had females emulating fashions featured in films, as a means to escape this hard time ( King, 2014). Since this situation poorly affected the money in this industry,
More businesses became aware of the difficulties, which caused businesses to not expand and start new projects. This caused job insecurity and uncertainty in incomes for employees. The crash was also used as a symbol of the changing times. The crash led the American people out of the roaring 1920’s into a new decade.
The Great Depression from 1929 to 1933 was perhaps one of the darkest times in the United States. The desperation had spread to every single corner of the nation. Millions of people had lost their jobs and savings, parents were not able to provide food for their children. In the meantime, this greatest despair was to become the best opportunity for many outstanding artists and their works to sparkle.
Famous choreographer George Balanchine once said, “He is the most interesting, the most inventive, the most elegant dancer of our times” and noted dancer Rudolph Nureyev also said, “He was not just the best ballroom dancer, or tap dancer, he was simply the greatest, most imaginative, dancer of our time.” These famous dancers were referring to Fred Astaire, who has been known as one of the greatest dancers of all time. His light, artistic joyful style of dancing has impacted dance in an extremely unique way. Astaire used techniques in films as well as in dance that have shaped society. Astaire was mostly prominent throughout the 1930s during the Great Depression. Everywhere, Americans were looking for some joy in their lives, and Astaire was able to give them hope in a period of history that lacked optimism. Fred Astaire’s carefree dance movement style and techniques, specifically in the films Swing Time and The Gay Divorcee, help America through the Great Depression and signifies the importance of art in this time period.
"Fashion Timeline : 1920 To 1930." Vintage Fashion Guild. Vintage Fashion Guild, 2014. Web. 15 Feb. 2014. .
Throughout history, there were many things that influenced fashion and the ideal body image of the time. Things such as politics, and changes in social roles were some things that had an influence on the fashion of the day. One particular shocking thing that had influenced on the fashion around the 1800s were sickness and diseases. Not only were diseases and sickness caused by different fashion trends, but it set the tone for certain ideal body images and also influenced the fashion of the time.
For the average American living in the city, The Great Depression was a time to cut back on luxuries, and find ways to cut comers on even the most basic items. Appliances, jewelry, and flimiture were some of the first items that Americans stopped buying. Because industries must sell in order to continue, the decline in sales of goods caused many factories to close causing unemployment, and worsening the depression. (DiBacco 538-539)
The advancement from conservative to liberal thinking, eventually resulted in revolutionary changes in cultural fabric of American life. The 60s was a decade of sweeping change throughout the fashion world. Previously, fashion was aimed at mainly the wealthy and the mature elites, but as the decade began to unfold, the tastes and preferences of the youngsters became important. Parisian designers dominated the beginning of the decade with their outstanding ability to implement their own ideas into their clothing.
If we didn’t have fashion then a lot of people wouldn’t have jobs because there are a whole bunch of fashion designers out there, also all of the celebrities wouldn’t have name brand clothing because there would be no way to make them because we wouldn’t have designers. Fashion of the 1920’s played a very big role in today’s fashion. Including the material our clothing is made out of also the styles of clothing we wear. Many things women wear today first came from fashion in the 1920's. Flappers, shoe styles, and accessories are a few things that we wear today have came from. Many celebrities still wear some things that people wore in the 1920's including flappers. Have you ever wondered what the amazing fashion of the 1920's was like?
The Great Depression was one of the most important historical events that has happened within the last century that impacted every Americans life one way or another. There were many factors that could be an explanation of why The Great Depression happened, but there is no one definitive list of the reasons of what caused The Great Depression. It was a mixture of events in the United States and outside of it that probably led to this period of time to happen. The main reason that everyone could agree on was the event of the Wall Street Crash of 1929. Because of The Crash, it made people go on a bank run which made thousands of banks to close because they simply did not have all the money for all the people wanting to withdraw their savings. Because everyone was trying to take their savings out, most people were turned down by the bank and essentially lost of their savings in the bank. The banks were failing and because they had no more money left, this stopped the banks from having available credit for people to use which made matters even worse for the people. This leads people to poverty and were left with nothing. Because people were poor and were scared of spending their money now, it made people stop buying extra things that weren't essential to live. This was the cause of the unemployment rates during this time period because if no one was buying anything, then there was no reason to keep extra workers for things people are not buying.
The Impact of the Great Depression The stock market crash of 1929 sent the nation spiraling into a state of economic paralysis that became known as the Great Depression. As industries shrank and businesses collapsed or cut back, up to 25% of Americans were left unemployed. At the same time, the financial crisis destroyed the life savings of countless Americans (Modern American Poetry). Food, housing and other consumable goods were in short supply for most people (Zinn 282).
The 1930s brought the deepest and longest-lasting economic downturn of the Western industrial world (http://www.history.com). This economic downturn was known as ‘The Great Depression’ (http://www.history.com). The Great Depression in the United States soon began after the stock market crash of October 1929 (http://www.history.com). Consumer spending and investment dropped which caused a decline in industrial output and led to rising levels of unemployment (http://www.history.com). During this time period money was scarce. People did what they had to do in order to make their lives happy (http://wwwappskc.lonestar.edu). The Great Depression was hard on the economy which in turn affected how people lived their lives and spent their money.
The movie Modern Times was produced during a time of the economic and social strife caused by the great depression. The Great Depression was the worst economic disaster the United States has ever faced, and it lead to the collapse of industry which in turn led to large unemployment. People struggled to live, as there were few jobs, but when jobs were available they often involved meager pay and long hours. Modern Times by Charlie Chaplain was a great example into the struggle workers faced through their jobs and their social expectancies.
Fashion is an outlet people use to express themselves. People anxiously wait to see what the next trends are as seasons pass by. We buy anything that doesn’t break a bank, people buy a $10 shirt just because it’s cheap and they might not even wear it, but it’s all right, since it wasn’t expensive. As harmless and normal as that scenario sounds, the fashion industry has created the harmful concept that is “fast fashion”, in which stores sell an abundance of extremely cheap trendy clothing and “where deliveries are small and often, with stock delivered twice a week, for instant-access fashion.” (Cochrane)
Fashion plays an important role in the lives of billions all over the world; people, as part of a status craving society, turn to “fashion capitals” of the world for ways in which to dress and carry themselves. New York, Milan, and Paris are leaders among this fierce industry that the world lusts after. Fashion can speak volumes about ones personality, or also about the condition the world is in at the time. In France, fashion changed rapidly and feverously as the times changed.
Moreover, many products were luxurious in the 80s because the economy recovered during that period. Modern fashion is meaningful; it brings many changes and has a huge influence on general life. Heskett (2002) mentioned that it not only changes the lifestyle, but also changes the minds of a generation.