Running Head: THE DEPRESSION IN THE US 1
THE DEPRESSION IN THE US 2
The Depression in the US
The great depression in the USA was the worst economic crisis that the USA has ever witnessed. It left millions of US citizens unemployed, the economy declined drastically, and most citizens died from the depression. The USA’s industrial production was the most affected among all the countries that witnessed this depression (D’Apice & Ferri 2010). US citizens still witness some of these effects, some positive and others negative. Although the depression had serious negative effects during the occurrence, positive effects also emerged, leading to a better America.
Effects of the Great Depression
One of the effects is food consumption. Science and experts say that human beings are products of how they grow up. The nation’s hunger during the depression and the way of food consumption affected how Americans consumed foods. Up to date, most Americans teach about the value of proper food consumption without wastage. Also, depression led to an increase in fast food consumption. Up to date, America is the biggest consumer of fast foods. I believe that the great depression played a role in fast food consumption since they are cheap to obtain. Most Americans got used to taking fast foods, making that a part of their lives, and they had to live with it. Also, the manufacturing of fast foods increased after the great depression.
On a positive note, the great depression prompted the American government to intervene in areas that required economic support. Since the great depression, the government has also created more agencies to help in economic and social assistance to the people in need. The depression was a big blow to the government, and it affected the nation when the government had not prepared for any crisis. Creating these agencies can help contain any possible incidences of a crisis similar to the great depression or closely related to the depression. A similar crisis occurred in 2008, but the Americans successfully contained these crises, and everything resumed to normalcy.
The other effect of the depression was the creation of a war against poverty in America. During the depression, the most affected people were the poor. Although the wealthy also suffered, the most affected were the poor. There have since been a war in America to fight poverty, and capitalism has become the normal of the day. A good example of the fight against poverty is when President Obama was in power. Obama’s government was under pressure to stimulate the economy since the depression was a big blow to the government. It taught them to avoid any possibility of another economic crisis. With the fight against poverty, Americans can easily combat any possible economic crisis since most of the population will sustain themselves economically.
The great depression led to the fall of the economy and industrial position of the US. Some of the effects of this depression included loss of jobs, homelessness, and industrial failure. In today’s world, the USA still witnesses some of these effects, both positive and negative. The USA has been taking adequate measures to ensure that they will be able to fight any other crisis that may arise, and they have been doing this through various programs and agencies. The country had not prepared adequately for any crisis during the depression. Since the crisis, it has been trying to encompass all possible interventions to prevent any other crisis and manage it if it happens.
Crafts, N., & Fearon, P. (Eds.). (2013). The great depression of the 1930s: lessons for today. Oxford University Press.
D’Apice, V., & Ferri, G. (2010). The Great Depression of the 1930s. In Financial Instability (pp. 39-44). Palgrave Macmillan, London.
Last Updated on October 20, 2020 by EssayPro