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Great Depression - Thesis Example

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Summary
It started in the United States but affected Canada and other European countries and other parts of the world. It ran for almost a decade…
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Great Depression
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Great Depression

Download file to see previous pages... It led to lower production of staple and cash crop food like wheat, which led to low income2. Misuse of land by farmers caused soil erosion by wind storms; plagues of grasshoppers invaded their wheat and caused massive losses. It caused migration of civilians in other parts of the country, which had not been hit hard (Atlantic and southern parts).
Production industries and companies: they had to reduce production, especially farm inputs, this led to dropping off of employees hence rising unemployment, few people considered luxury items therefore affecting industries producing such appliances for example cars3. Other parts of Ontario and Quebec went through unemployment since mining and forest tourists had dropped. For British Columbia province, which majors in horticulture encountered an economic downfall due to low demand hence workers were laid off. The Newfoundland province had to ask for government help for the crisis (Wiegand, 254). Very few wealthy citizens benefited from the depression since they acquired property due to the low value and cheap prices and later sold it at higher rates. In addition, few big industries capitalized on the chance of depression since they didn’t have to pay wages as many workers were dismissed.
Political instability: A lot of pressure from the economy and citizens, the whole country faced to politics to try to save the situation, they overthrew the past political parties and brought in liberals lawyer Richard Bennett hoping to bring a ...Download file to see next pagesRead More
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