The Great Depression

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The Great Depression is among the most painful and scary periods in recent US history, aside from the two world wars. Yet, some argue it was actually worse, as the financial and social impact of the recession touched nearly every American family and resulted in millions of broken lives, families, and destinies.

The economic collapse and surging layoff rate were among the most glaring effects of the Great Depression. The share prices plummeted, taking the banking system along for the ride, resulting in bankrupt businesses across all major industries. Despite the governmental mandates, companies had to lay off millions of Americans, which boosted the layoff rate to a record-breaking 25%. 

As the Great Depression progressed, more people were laid off and incurred debt, resulting in mortgage foreclosures and bank defaults. As a result, millions of people went homeless during the first years of the recession. They congregated in Hoovervilles, spread across the country, including the large cities, like New York.

It took a few years for the administration to get a handle on the Great Depression. And few of the measures put in place were effective. For example, the banking system lost thousands of banks regardless of the policies and legislation. The import bans didn’t do much good either. However, the targeted monetary benefits aimed at the elderly helped many people come out on the other side of the recession. The planned economy was also implemented for a few years to control the prices and production rates while the country rode out the economic crisis.

The entertainment industry was probably the only winner of the recession. Even while people struggled to make ends meet, they continued to go to the movie theaters to get their minds off the daily struggles.

And while World War II took a horrible toll on the country, it was also a powerful driver of economic growth. As a result, the US came out of the war with better economic indicators and resettled in the place of global dominance undercut by the isolationist policies of the recession years.

Whether you’re a history or an Economy major, you will likely have to write an essay on the Great Depression at least once. And while you can get your hands on plenty of credible sources to substantiate your research, pulling them together into a compelling narrative that will catch your professor’s notice will take time, patience, and creativity. After all, hundreds of students write on the same topic every year, so you have to work hard to find a fresh perspective.

Whether you want to impress your professor or just get over the assignment, our free samples are a goldmine. Check out what other students write on the topic, consider adopting their ideas, and plunder their reference sections for good sources to use. You can rip apart the essay outlines and mash a couple of thesis statements together to make a new and exciting take on the issue.

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