scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 3,095
On July 2 1932 at the Democratic National Convention the crowd listened intently to the phrase I pledge you I pledge myself to a new deal for the American people The New Deal name was soon applied to the program of reform and recovery instituted by Franklin Delano Roosevelt During the early part of the Great Depression the economy had ground to a halt as a result of the stock market crashing and the unemployment rates skyrocketed as businesses shut down Only a very small portion of the population actually held stock The cause of the Great Depression was really a result of shallow economical prosperity Most of the farmers and other industries struggled in the 1920s Low prices suppressed wages and production material prices and lopsided distribution of income all influenced the spiraling effect of the Great Depression The relative greed of businesses in terms of profit margins and little interest in the increase of wages and positive working environments also played a role By not making allowances for increasing wages businesses essentially reduced the spending power of the workforce This made the products these workers helped to produce unavailable to them The banking industries were also involved by reacting inappropriately to economical trends right before the crash An increase in credit flexibility might have helped reduce some of the dramatic effects of the stock market crash The relative reduction in disposable income as well as an inflexible credit system created a dramatic reduction in spending and effectively promoted a drastic reduction in the value of the dollar When the market crashed all of these factors that were hidden by a general belief in permanent wealth and prosperous trends sent the economy into a tale spin Many believed that the United States would decline into dissolution and little faith was placed with the current policies of Herbert Hoovers administration The American public desperately needed someone to guide them through the most economically debilitating period
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA