The Great Depression and the revival of American dream
The Great Depression made a huge impact on both the American economic history and the shape of its nationality. The United States had been no great economic glowing nation in the world for that decade until the beginning of the World War 2 and its further development of the economy afterwards. Citizens were on the verge of losing their nationality and trust for the government. Therefore, how the United States survived this emergency and recovered its pride as America among the nations can be scrutinized with the reactions and causes of the Great Depression, and their major purpose to joining WW2.
The Great Depression began in October 1929, when the stock market in the United States dropped rapidly. Thousands of investors lost all of their money and were forced to live on the streets often going without food. This crash led into the Great Depression. The ensuing period of 10 years ranked as the worst period of high unemployment and low business activity in modern times. Banks, stores, and factories were closed and left millions of Americans jobless, homeless, and without food.
Most of the nation’s public figures were stubbornly unwilling to recognize the disaster, at least at first (46, Piven and Cloward). They still believed in the perspective of the America’s prosperity which leads the global economy and keep up their national pride. By then, American was recognizing its prosperity and economic growth thanks to the economic demands for war industries at the time of World War 1. National income rose from about $60 billion in 1922 to $89 billion in 1929, and by June of 1929 the index of industrial production reached its highest point ever (45, Piven and Cloward).
However, the wave of unemployment caused that many people could not help depending on the government or charity to provide them with food. By the end of 1930 over four million people were unemployed and jobless. Only two years...