Sunday, March 11, 2012

Video

Summary
The speaker in the video states that the average unemplyment rate in America was one in four people. That was thirteen million people that were out of work in the duration of the depression. People were basically in shock at how bad America had gotten because it was in the jazz age and everything was running smoothly then all of a sudden disater struck. People in America lost sight of the "American dream" when the market crashed, putting the economy into the worst econimic times of the twentieth century. Things in America got even worse becasue of the dust bowl in the midwest. Many farmers lost their jobs and had to move to cities and set up slums basically. The depression did not end until America got involved in WWII because of all the military eqiptment that had to be made.

Analysis
The dust bowl did not cause the depression that was the crash of the stock market and many other factors within the banking system, but it did worsen the situation. Many farmers lost their jobs. When they lost their jobs , they no longer contributed to the economy, The more people out of work the worse the economy is going to get and that is exactly what happened. Many poeple were shell shocked when the crash occured because they were in an age of music, fun, and laughter. That could also be a reason times got so tough so quickly becasue no one was really in the mind set to deal with it. When America entered the second world war, equiptment was starting to be made in America which created jobs and in turn helped stir up wealth within the economy. WWII saved America from the depression in a way.

Question
Do you think it would of taken America a significant amount of time longer to get out of the depression if America did not get involved in WWII?

Citation
http://youtu.be/aPtbekTh2qo

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