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The stock market crash of 1929 1000 word essay
The stock market crash of 1929 1000 word essay
The stock market crash of 1929 1000 word essay
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In 1929, A Yale University Economist Irving Fisher stated. " The nation is marching along a permanently high plateau of prosperity".(5) 5 days later the stock market crashed and the worst economic downturn in American history called the "Great Depression" began. The Depression started in 1929 and would last for a decade until we entered War World II. The Great Depression affected every part of economy and no job was safe. In 1929 unemployment was at 1.5 million and by 1933 unemployment reached over 13 million which meant 1 out of 4 were out of work (3). Some who were successful businessmen before the stock market crash and now selling pencils or apples on the street corners after the crash .Many business closed their doors, factories shut down and banks failed causing homelessness, poverty and general despair on many Americans. Huge numbers of Americans had their lives upset by the Depression. Tens of thousands of migrant farm workers traveled the nation looking for employment. Farming income fell some 50 percent and people went hungry because so much food was produced that production became unprofitable. Many Americans watched their homes and life savings be lost because of the stock market. Confidence in the market was lost and without that confidence investors pulled out and the market collapsed.(4)
America's unevenly distributed wealth played a role in the stock market crash and slowed the recovery. During the "Roaring Twenties" our country prospered tremendously, but our middle and lower class prospered little compared to the upper class. The upper class profits sky rocked and the distance between the classes grew out of control. In 1929 the top .1% had a combined income equal to the bottom 42 percent (2). Much of the money was in the hands of a few families who saved or invested rather than spent their money on American goods causing a greater supply than demand. Three quarters of the population maded just enough to purchase consumer goods. They relied heavy on credit to make purchases and had no savings to protect them (5). By 1929, some 200 corporations controlled over half of all American wealth (2). Most of the industries that were prospering and using their profits to improve manufacturing to the point by the market crash they were supplying more than the demand. Before the depression successful companies were ...
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...sez-faire" and relied heavy on market forces to achieve necessary economic corrections. But market forces alone are not always able to achieve the desired recovery in the economy. Whether in the form of taxation, industrial regulation, public works, social insurance, social welfare services, or deficit spending the government must assume a principal role in ensuring economic stability. New theories and ideas came out of the depression like Keynesian theory. Which states that recessions and depressions happen because people hoard their money and to fix this the government should do the opposite and spend money(5).
1. Baughman, Judith S. American Decades 1920-1929, Detroit: Gale Research, Inc., 1996.
2.Gusmorino, Paul. "Main Causes of the Great Depression" (May 13 1996) Gusmorino World 30 July 2005
3.McElvaine, Robert S. The Great Depression. New York Times Books, 1984.
4. Samuelson, Robert. "The Great Depression" (2002) The Concise Encyclopedia Of Economics. 30 July 2005
< http://www.econlib.org/library/Enc/GreatDepression.html >
5. Schultz, Stanley "Crashing Hopes, the great Depression" (1999) American History 102 July 30 2005
The ancient cultures of Mesopotamia and Egypt developed into successful civilizations. One civilization the Egyptians developed was in the Nile River valley. Based off the "Mesopotamia and Egypt DBQ" packet, "Ancient Egypt was an advanced civilization in many areas including religion, architecture, transportation, and trade. Ancient Mesopotamia was one of the first civilizations that developed a form of government as well as organized people in political states." Based on the documents, Egypt and Mesopotamia developed into successful and advanced civilizations by effectively using the resources that surrounded them to solve problems and live happily.
Pindar, Ian. "The Forgotten Man: A New History of the Great Depression by Amity Shlaes." The Guardian, August 9, 2009.
The ancient cultures of Mesopotamia and Egypt are a factor of the evolution of civilizations in present-day. Though, it wouldn’t occur if both of these ancient civilizations didn’t develop into successful ones. There are three similar components that led Ancient Egypt and Ancient Mesopotamia to become prosperous. These are the locations, their way of life, and their beliefs. All of these elements will be explored more thoroughly throughout this essay.
McElvaine, Robert S, ed. Down and Out in the Great Depression: Letters from the Forgotten Man. Chapel Hill: The University of North Carolina Press, 1983.
The Great Depression America 1929-1941 by Robert S. McElvaine covers many topics of American history during the "Great Depression" through 1941. The topic that I have selected to compare to the text of American, Past and Present, written by Robert A. Divine, T.H. Breen, George M. Frederickson and R. Hal Williams, is Herbert Hoover, the thirty-first president of the United States and America's president during the horrible "Great Depression".
The first one is the Sumerian civilizations. Sumerian cities began in the south of Mesopotamia. Ruler was dependent upon to make sure that the city walls and irrigation systems were okay. Their government was based heavily on religion. They had created a system of laws which allowed them to keep order in their society. These laws were later called the Hammurabi’s Codes of Laws. The Sumerian cities also had a system of ranks. The ranks are as followed: leading family, priests, scribes, merchants, artisans, and peasant farmers. Majority of the population was made of farmers. As for education, only the royals went to school. Can you imagine only the upper class humans being able to go to school? Next, when the Mesopotamians were first civilizing women were equal to women. Although as time progressed the society became a fairly patriarchal society. Despite the women’s setbacks they still had some political rights. The Sumerians were polytheistic. Not surprising since it was an early civilization huh? They built ziggurats or a pyramid temple that soared towards the heavens. Although they were the first to create them Assyrians and the Babylonians also built them due to cultural diffusion. With these temples they praised their gods and thank them for all they have done. The Sumerians believed in an afterlife. Although they never went to extremes they buried their dead with weapons in case they needed them. The
Before the beginning of history, people from across the land gradually developed numerous cultures, each unique in some ways while the same time having features in common. Mesopotamia and Egypt are important to the history of the world because of religious, social, political and economic development. Mesopotamia was the first civilization, which was around 3000 B.C., and all other countries evolved from it. Mesopotamia emerged from the Tigris and Euphrates Rivers. The soil was rich and agriculture was plentiful. The Semitic nomads occupied the land around Akkad. The Sumerians established the city-states. Villages became urban centers. Because of the formation of the city-states everything flourished. However, Mesopotamian agriculture lacked stones; therefore mud brick became their major building block. Their diet consisted of fish from the rivers. The rivers were flooded frequently destroyed the cities. Mesopotamians made their living from crops and pottery.
The cultures of ancient Egypt and Mesopotamia developed into successful civilizations because they had rivers for mandatory needs like food and transportation, they had their own ruler, laws of civilization for the people, jobs for people, and temples for jobs and shelter for some.
When analyzing ancient civilization and how it began, there are many elements and aspects that should be considered. Questions such as how did civilization begin? What lead to its creation? Where did it begin, and why in that particular location? Many of these questions can be examined and answered by researching what many believe is the world’s earliest civilization, Mesopotamia. It is widely believed that this region was chosen and supported one of the world’s first civilizations. This area was settled over 10,000 years ago by a group of people known as the Sumerians (Cunningham & Reich, 2010).
"Great Depression in the United States." Microsoft Encarta Encyclopedia 2001. CD-ROM. 2001 ed. Microsoft Corporation. 2001
Throughout time societies have developed and progressed from each other through trade and exchanging knowledge, as well as numerous other aspects. Although, initially each civilization possesses their individual benefits, which causes each civilization to be quite diverse. During the River valley civilizations period, the civilizations Mesopotamia and Egypt developed upon their society politically, economically, and culturally. However, each civilization progressed upon these aspects differently based on the structure of their society, geography of their settlement, and their overall beliefs. Politically, Mesopotamia had a less centralized government, as they possessed numerous city-states, which were self-governed. Egypt, however, possessed
Bunny Rogan later goes on to say “And you have to admit having been there, to having failed in front of a crowd of friends and well-wishers” (Merullo, 231)? Herman demonstrates resistance to temptation during the golf match with the devil. This is temptation because the devil is trying to get Herman to break his morals and faith by giving in. Herman says internally that goodness, true goodness, has an enormous power to it, and if I was not exactly the paragon of goodness, well then I had close friends who were. Goodness has a tremendous effect on Herman’s handle on Satan’s temptation, he allowed Herman to face his fears internally which he showed with courage that lead to a moment of truth. This also shows that he didn’t allow Satan to win with deception and that he rose to what God had wanted him to embrace within himself to find his spiritual potential and learn from his mistakes. In contrast, earlier in Herman’s life he does give in to temptation during the Western Pennsylvania Open, however there is an ironic connection between God and Herman. Herman experiences the yips caused by the devil’s doing which later cause him to drop in rank, resulting in the loss of the
The ancient civilizations of Mesopotamia and Egypt began to develop circa 3,000 B.C. Located near rivers, the lands offered fertile soil and an excess of crops that drew in many people. As more people arrived, the small settlements flourished into large, thriving civilizations. Many aspects of Mesopotamia and Egypt, such as their cities, their strongly organized government, and their religion, greatly contributed to the success of these two civilizations.
Mesopotamia and Ancient Egypt are both cradles of civilization. Both contributed greatly to human development through their achievements, failures, peoples, scientific accomplishments, philosophies, religions, and contributions.
Mesopotamia Civilization: The Mesopotamian civilization was developed 6000 years ago and is located in the Fertile Crescent which is now the modern day Iraq. In Mesopotamia, there is an existence of a social structure that was divided into four. The priests were considered to in the top of the pyramid while the slaves which came from the different cities that the Sumerians conquered were considered to be at the bottom of the structure. In Ancient Mesopotamian family, men had more power than women. Men were taught about the business of trading and while women stayed at their homes, cooking and taking care of their family. The men were considered to be the masters of their house, but women have also the right to divorce their husbands (Mark,