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Essay / Research Paper Abstract
In five pages this paper examines the Great Depression in an overview of what happened to the economy, how people were affected, what the government did to generate the economy and get people back to work. The Agricultural Adjustment Administration is the federal government agency that is described in detail. Five sources are listed in the bibliography.
Page Count:
5 pages (~225 words per page)
File: TG15_TGgd.rtf
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Unformatted sample text from the term paper:
until October 29, 1929, "the most devastating day in the history of the New York Stock Market" initiated what has become known as the Great Depression (Garraty 31). However,
the events that led to the Great Depression did not materialize overnight; they were a long time in coming. During the First World War (1913-1918), which the United States
did not enter until near the end, America enjoyed a period of unparalleled growth. From 1902 to 1920, the Gross Domestic Product (GDP), which is the total value of
goods produced, practically doubled from $37.1 billion to $73.3 billion due to the agricultural exports being shipped to a war-ravaged Europe (Burg 4). The economy continued to flourish with
the manufacturing of automobiles and war materials. However, the brief U.S. involvement in World War I carried a hefty price tag of $21 billion in national debt (Burg 5).
This debt further increased when the United States began extending financial credits to its European allies to support its rebuilding efforts, generating another $11 billion in loan debts.
World markets continued to be unstable for years after the war, and as a result, demand for American exports decreased. During the early twentieth century, the United States
was still very much an agrarian or agricultural economy. After the First World War, the American farmers were the hardest hit by the stalling economy. To meet U.S.
military and allied food needs, farmers responded by cultivating more than 400,000 acres of pasture for grazing. When European began resuming their own postwar agricultural production, the demand for
U.S. crops naturally declined, resulting in plummeting prices. Expanding their acreage placed severe financial burdens on farmers and forced them to take out bank loans, which many defaulted on
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