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All industries and companies were affected by the crisis.It is the reason for their mutual work, cooperation with the stock market, they depended on stocks.Interesting that the Gold Standard abandonment together with the ensuing monetary expansion made the recovery possible. It included both huge changes in economic policy and extreme suffering of the people.
Here we will give you a good example of the Great Depression essay which took place in the United States.The hardest influence was experienced by the American and European economies. Big enterprises, small companies, farmers, families around the countries suffered from the crisis which caused banking panic, the decline in the consumer demand.Improper policies of the government led the fall of the output in the United States, while the so-called gold standard, which gave fixed currency exchange rates to almost all countries transmitted downturn from the USA to other countries and made the crises international.The Great Depression had its start during the Herbert Hoover, American people blamed their President for everything that happened.They didn’t listen to his positive public speech, instead of it, they tried to spread some humiliating jokes, metaphors.Thousands of small farmers took agricultural equipment from the governments.They rented it according to some programs, they had to pay money for the renting these tools.Great Depression became a worldwide business slump of the 20th century.It is one of the worst and longest years of low business activity in the USA.The unemployment rate rose to 25% in the USA at it was the highest rate during the time of Depression. It means that a quarter of all population didn’t have any means of subsistence even though plants and factories were doing their best to save their workforce.Losing a job was leading to the inability to buy food and provide other basic needs, unemployed people could not live like this for a long time.