The Origins Of The Great Depression

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Term Paper Title	The Origins Of The Great Depression
# of Words	588
# of Pages (250 words per page double spaced)	2.35

The Origins of the Great Depression

     The Great Depression that began in October of 1929 and lasted 10 years, is said to
have many factors that play a role in the dramatic downfall of the economy.  Although no
economist has ever accurately explained why this disaster ever came about, economists
have come up with a few events and actions that have come up with a few events and
actions that have greatly contributed to it.  The decade previous to the crash was exciting,
care-free, and roaring.  It is an ample opportunity to get rich quick and buy the
technological luxuries that may have been unaffordable , but according to the ads,  “A
must-have of the future.”  Due to all the demands for more of these gidgets and gizmos of
the future, business used their profits to expand to accommodate the consumer.  During
the period from 1919 to 1929, manufacturing increased 64%.
     Under the presidents Harding, Coolidge, and Hoover, Americans practiced the
policy of laissez-fair.  This deceitful, yet widely praised policy was followed, and
allowed the economy to go on without the government interrupting or regulating it in any
way.  The belief that came from this policy was that the businesses that consolidated
would receive larger profits from the consumer and share it in the worker’s wages, who
would in turn invest in the general wealth by investing in the stock market and also
buying the manufacturer’s goods.  Even though it was true that the businesses were
gaining on profits, the worker’s wages were not being raised, and so they could not
contribute to the buying of goods.  Yet surprisingly, the stock market soared without any
regulation.
     In the 20’s banks began to quickly sprout up here and there around the country to
provide the Americans with the loans that they needed to,  “Get Rich Quick,” in t...

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