Assignment task:
In a well-developed essay, please briefly provide three or four examples of the experiences of Americans during and after World War II. You might talk about the harsh environments soldiers faced on the European battlefield, the war time economy, the experiences of women, or questions of race that included Executive Order 8802, the Red Tails, or the Double "V" Campaign that helped to spearhead the modern Civil Rights Movement. Need Assignment Help?
The Great Depression: Causes and Lived Experiences
One of the most terrible economic tragedies in American history was the Great Depression that began in 1929 and continued most during the 1930s. Although the Stock Market Crash of October 1929 can be considered the event that led to the Depression, the reasons were much deeper and more complicated, and they were built over several decades. Depression transformed American life, and millions of people remained jobless, homeless, and desperate. To comprehend its effect, one has to consider two primary causes: the crashing of the banking system and the purchasing power loss, as well as look at two examples of lived experience in this period: life in Hoovervilles and the Dust Bowl migration.
The breakdown of the banking system was one of the reasons that led to the great depression. Banks of the 1920s took dangerous loans and overinvested in the stock market. As the market crashed, both individuals and institutions lost huge sums of money. Fear gripped the country, and withdrawal of savings began, and bank failures were common. Most of the life savings of millions of people were lost overnight in the absence of federal insurance (the FDIC was not in existence until 1933). The breakdown of the banking system also rendered businesses helpless since they could no longer get credit to settle workers or even make investments in production. This increased mass layoffs, reduction in wages, and further economic contraction (Romer, 2003). The collapse of financial institutions demonstrated the inconsistency of the uncontrolled economy and showed how easily the panic could transform a recession into a full-blown depression.
The other significant reason was the loss of purchasing power among the common Americans. The income inequality grew exponentially in the 1920s as corporate profits increased, and the wages of most workers remained stable. The people of America were not able to buy goods produced, and this formed an unsustainable economic imbalance. With the increase in unemployment following the crash, the consumer demand decreased even more. Factories reduced their work or even closed down, and this further increased job losses, which is referred to as the vicious circle of deflation. This particularly affected the farmers who had been facing weak prices for their crops following World War I. With the prices of wheat, cotton, and corn crashing down, a large number of people could no longer afford their debts, and they were unable to retain their lands as they were foreclosed (U.S. History.org, 2023). The decline in purchasing power in urban and rural America transformed a financial crisis into a depression.
The financial meltdown was truly disastrous to everyday living. A clear indication of the lived experience during this era was the emergence of Hoovervilles, improvised shantytowns named after President Herbert Hoover, whom many residents held responsible as the cause of the crisis. In countries, the jobless constructed houses using scrap wood, tin, and cardboard, and concentrated in the outskirts of the cities. Families in these communities were also able to share what they had little of, scavenge, and survive on charity. Hoovervilles were a synonym of the depression despair; however, they represented the strength and unity of the ordinary American who struggled collectively (Romer, 2003).
The other experience that was defining experience was the Dust Bowl that struck the Great Plains in the early 1930s. According to the lecture, The Dust Bowl, many years of extreme drought and bad farming techniques wiped out millions of acres of farmland. The dry topsoil was blown away by strong winds, and it formed huge dust storms that darkened the skies and buried the homes. The farmers lost their livelihood, crops, and livestock. Families in the thousands (they were known as Okies because of the former home state of Oklahoma) flocked to California in search of employment. Some of them became migrant workers residing in tents or camping, and were discriminated against and impoverished. Not only was the Dust Bowl an ecological disaster, but also a human disaster, as economic and ecological disasters became one to overturn whole communities. In conclusion, the great depression was provoked by profound structural flaws in the American economy, especially the failure of the banking system and the massive destruction of buying power. It had a tremendous human price, witnessed in the proliferation of Hoovervilles and the misery of Dust Bowl migrants.