Question

write about great depression fiancial crisis in 500-600 words. please do not copy from google. write in your own words with xamples and evidence.

Answer 1

The Great depression was the worst economic downturn in the history of the industrialised world wwhich lasted from 1929 to 1939. The reason behind this was the stock market crash which took place in October 1929. Because of this wall street went into a state of panic and wiped out millions of investors.

The whole society was affected by The Great depression.

Unemployment had risen by 22 percent. Wages fell down by 42 percent. Due to this depression many farmers lost their farms. At the same time, years of over-cultivation and drought created the dust Bowl in the city. It leaded to an end of the agriculture in the fertile land. many people ended up being homeless.

The reason of this Great Depression was the central bank. It used tight monetary policy when it should'nt have.

The Great Depression ended when the country elected Franklin D Roosevelt as their president in 1932. He promised that he will create federal government programs to end the Great Depression. It created 42 new agencies.

Those agencies were designed to create jobs, provide unemployment insurance. This programs helped to safeguard economy and remove depression.