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Discussion Topics - Essay Example

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In particular, most Americans feared the great depression. According to Romer, America experienced the worst depression a few days before president Roosevelt became the president (767). The great depression is likely to…
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Discussion Topics “Fear” was on the minds of Americans from 1920 to 1945. In particular, most Americans feared the great depression. According to Romer, America experienced the worst depression a few days before president Roosevelt became the president (767). The great depression is likely to have resulted from the era of prosperity, which was unequally distributed. During this era, banks failed leaving millions of people without savings. In addition, factories closed down forcing people into unemployment. The tariff act of 1930 is considered as the worst mistake that Americans ever made. The act was meant to raise taxes as a strategy to cut down on people’s spending and hence increase the recovery process. However, the measure had insignificant effects on the economy since it targeted businesses, which were already closing down. The worst impacts of the depression were felt on October 29, 1929 when the stock market closed its doors for the first time in what came to be known as the black Tuesday. Most economists attribute the great depression with the fall of stock prices that occurred in the US before it spread to the rest of the world.
Having witnessed the impacts of the great depressions, Americans were fearful about similar occurrences. Fear from the great depression hindered people from achieving their financial targets and investing. People were scared about banking and saving in general.
On December 7, 1941, Japan launched a surprise attack on the United States at Pearl Harbor in Hawaii. This thrust America into World War II, and for the next four years. The war occurred during the era of the great depression when America was experiencing massive unemployment. Following the outbreak of the war, the position of women in the society is likely to have been reviewed. As men were recruited into the military, millions of women were left to take care of their families. Some of them took male dominated jobs in the manufacturing and construction industries. In addition, most women took leadership positions in their families as their husbands died in the war. The war changed the role of women in the society and compelled them to take male dominated positions such as politics. Entry of women into politics is also likely to have started during this era.
Works Cited
Romer, Christina. "What Ended the Great Depression?” Journal of Economic History 52.4 (1992): 757–784. Read More
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